Bank of America Accelerates Sustainability Efforts
- Jun 07, 2019
Bank of America is accelerating its transition to a sustainable, low-carbon economy by launching its own on-site solar initiative to install solar panels across its operations. The program is anticipated to generate more than 25 megawatts of renewable energy, which will be used to power the bank’s operations in select locations.
To date, six financial centers in California, Florida and Pennsylvania, as well as two office locations in Nevada and North Carolina are already benefiting from the energy savings and low-carbon enhancement through the bank’s on-site solar installations. By the end of this year, another 15 financial centers and 10 ATMs are set to be equipped with solar panels. Over the next three years, the company anticipates it will add more than 60 solar installations across its operations.
These actions will support the bank in meeting its broader environmental commitment to carbon neutrality and purchasing 100 percent renewable electricity by the end of 2020, as well as reach its goal to reduce location-based greenhouse gas emissions by 50 percent and energy use by 40 percent in the same timeframe. In November 2018, the bank announced a partnership with Juhl Energy and GE Renewable Energy that materialized into a wind and solar hybrid project in Minnesota.
Golden business environment
In 2019, the initiative will focus on installing solar panels at select financial centers, community financial centers and ATMs in the following states: Arizona, California, Connecticut, Florida, Illinois, Kansas, Massachusetts, Maryland, Missouri, Nevada, New Jersey, New York, North Carolina, Rhode Island, Texas and Virginia. In 2020 and 2021, select administrative offices in Arizona, Delaware, Florida, New York, North Carolina, Rhode Island and Texas are slated to be retrofitted with solar panels.
Bank of America’s environmental operation commitment to carbon neutrality includes LEED achievements, with its first LEED certification dating back to 2007. Since then, the company has achieved the award in more than 200 financial centers, counting 19 million square feet of LEED-certified workspace and 341 LEED certifications, which includes whole buildings and/or floor levels. With these numbers, the goal to have LEED certification in 20 percent of the company’s owned and leased space has been exceeded.
As part of the bank’s broader financial commitment, the company has deployed more than $126 billion over the past 12 years in support of environmental business efforts and will mobilize an additional $300 billion in capital starting next year to support more sustainable business activities. The bank will meet its current goal of $125 billion by the end of 2019, six years ahead of schedule.