In an effort to become more sustainable, Bank of America has achieved its goal of carbon neutrality. Even better: it did so a year ahead of schedule. The carbon-neutral status is still pending third party approval, but the company achieved its carbon footprint reduction by reducing Scope 1 and 2 emissions from its facilities, purchasing 100 percent renewable electricity and buying carbon offsets for its remaining unavoidable emissions.
The company has reduced emissions by more than 50 percent in its facilities since 2010 and used solar and wind power to achieve its 100 percent renewable electricity benchmark.
This story was shared with us by our partner, Just Capital, which aims to bring attention to companies in terms of social goals such as sustainability, equality, and worker satisfaction. The banking industry certainly has a long way to go in terms of becoming environmentally friendly, but this achievement by Bank of America is a significant first step and achieving carbon neutrality ahead of schedule sends a positive message to the rest of the industry about the value of prioritizing sustainability.