Bank of America
Carbon footprint
Primary Climate Goal
Bank of America aims to achieve carbon neutrality for Scope 1 + 2 by 2030
Secondary Climate Goal
Bank of America aims to achieve net zero for all Scopes by 2050
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 2021 at 71 Kt (+9.9/+16% y-o-y). Carbon intensity also remained unchnaged at 0.8 t.
Bank of America's Scope 3 emissions declined to 2,936 Kt (
The company is committed to achieving carbon neutrality for Scope 1 + 2 by 2030, which translates into the estimated reduction of -7.9 Kt per annum over the period of FY2022 - FY2030. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.
Also, the company commits to achieving net zero for all Scopes by 2050, which translates into the estimated reduction of -104 Kt per annum over the period of FY2022 - FY2050. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.
Bank of America aims to achive carbon neutrality across its operations (Scope 1 + 2) in 2030. 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.