Bank of America

Banks

BAC

$ 34 (1.5)%

Share price

$ 277 bn

Market Cap

$ 277 bn

Enterprise Value

Carbon footprint

GHG emissions per $ 1 mln investment

0.01x the weighted average for S&P 500

FY2020

Primary Climate Goal

Bank of America achieved carbon neutrality across its operations (Scope 1 + 2) in 2019

Secondary Climate Goal

Proj. YOY change in GHG emissions (all Scopes)

Weaker than the -6.9% weighted average for S&P 500

FY2021

Bank of America aims to achieve net zero for all Scopes by 2050

This target has not been verified as science based according to SBTi

GHG emissions and Carbon intensity

Bank of America reported gross GHG emissions (Scope 1 + 2 before carbon offsets) for the twelve months ending 31 December 2020 at 61 Kt (-19 /-23.8% y-o-y).

Bank of America's Scope 3 emissions decreased sharply to 3,291 Kt (-929 /-22% y-o-y). This is a higher rate of decline than over the period since 4Q'16 (-9.8% CAGR).

The company is committed to achieving net zero for all Scopes by 2050, which translates into the estimated reduction of -112 Kt per annum over the period of FY2021 - FY2050. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.

Bank of America achieved carbon neutrality across its operations (Scope 1 + 2) in 2019. Companies normally become carbon neutral with the help of the acquisition of carbon offsets rather than absolute reductions in their own greenhouse emissions. Also, carbon neutrality does not include non-CO2 GHG emissions.

Date	Total CO2e emissions (market-based Scope 1 & 2) (Kt)	Scope 1	Scope 2	Scope 3	Carbon offsets	Revenue (USDm)	Carbon intensity (tons of CO2e) / (USDm)
2020Q4	61	53	7.7	3,291	(93)
2019Q4	80	63	18	4,221	(80)
2018Q4	169	62	106	3,993	0
2017Q4	238	59	179	5,193
2016Q4	458	84	373	5,524
2015Q4	1,120	96	1,024	4,109