Bank of America aims to be carbon neutral by 2020

Bank of America has pledged to become carbon neutral by 2020. The second largest bank in the US has committed to work to reduce its greenhouse gas (GHG) emissions by 50% and energy […]

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By Jacqueline Echevarria

Bank of America has pledged to become carbon neutral by 2020.

The second largest bank in the US has committed to work to reduce its greenhouse gas (GHG) emissions by 50% and energy and water use by 40% and 45% respectively in its global operations during the same period.

It also aims to buy 100% renewable electricity and has joined the global initiative RE100, which includes Nike, Philips and Tata Motors among other firms.

The bank stated its new commitments are part of its $125 billion (£95bn) environmental initiative.

It claims it reduced its carbon emissions by 73% between 2010 and 2015 through energy efficiency projects.

The company will also reduce the carbon footprint of its data centres to support its new targets.

Anne Finucane, Vice Chairman at Bank of America said: “Addressing global issues like climate change and the transition to a sustainable and low-carbon future takes collaboration, innovation and investment.

“The expansion of our operational goals to 2020, achieving carbon neutrality and the purchase of 100% renewable electricity build on our existing environmental commitment and responsible growth strategy. This demonstrates the measurable actions we are taking to reduce our environmental impacts.”