Bank of America
Carbon footprint
Primary Climate Goal
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 2020 at 61 Kt (-19 /-23.8% y-o-y).
Bank of America's Scope 3 emissions decreased sharply to 3,291 Kt (
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.