Bank of America aims to cut its greenhouse gas emissions 15 percent below a 2010 baseline by 2015. The goal expands on a previous target for cutting U.S. emissions 18 percent between 2004 and 2009.

It also incorporates all operations—across 40 countries—and includes Merrill Lynch and Countrywide, which Bank of America acquired during recent restructuring in the financial industry.

Combined, the two goals would take BOA to a GHG level 30 percent below the 2004 baseline, if the company meets the new goal. BOA said that would be equal to 700,000 metric tons of CO2-equivalent—the same as eliminating the annual GHG emissions from more than 124,000 passenger vehicles.

90 percent of BOA’s emissions come from energy consumption. To operate more efficiently, the bank plans to expand the use of energy management systems; increase computing efficiency; improve HVAC and lighting efficiency; implement emerging technologies; educate employees on behavioral changes.

Under the company's Hybrid Vehicle Reimbursement program, eligible U.S.-based employees can receive up to a $3,000 reimbursement toward the purchase of a new hybrid, highway-capable electric or compressed natural gas vehicle. Initially launched in 2007, more than 3,800 employees have replaced conventionally powered vehicles which, on average, doubled their fuel economy and prevented the release of nearly 4,000 tons of annual CO2 emissions from employee commuting.

Greenbuilding Goal

BOA also announced plans tp certify 20 percent of its workplace real estate under the U.S. Green Building Council’s LEED rating system by 2015. Currently the bank is at 11 percent, which represents 13.2 million square feet, the bank said.

LEED-certified space will include new construction, core and shell construction, commercial interiors, retail spaces and the operations and maintenance of existing buildings.

BOA competitor TD Bank opened the first net zero emissions branch in Florida earlier this week.

Reprinted with permission from Sustainable Life Media