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Bank of America

Bank of America

  • 1090 Vermont Ave NW Washington, DC 20005, Ft. Washington 20005, Maryland United States
  • 202.793.8234
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Description

Our company

“What would you like the power to do?”

At Bank of America, we ask this question every day of all those we serve. It is at the core of how we live our values, deliver our purpose and achieve responsible growth. By asking this question, we continue to learn what matters most to our clients, our employees and our shareholders. It helps us start a conversation centered on our commitment to use our capabilities to help those we serve be successful. Because we recognize that we can only be successful when the individuals, companies, communities and employees we serve are able to reach their vision of success.

 

Responsible growth

We are delivering on our purpose to help make financial lives better through our focus on responsible growth.

Our commitment to responsible growth is resolute, and has four tenets:

  • We have to grow — no excuses.
  • We have to be client focused.
  • We have to grow within our risk framework.
  • And, our growth must be sustainable, which has three elements: driving operational excellence, being a great place to work for our teammates and sharing our success with our communities.

By driving responsible growth, we deliver returns to our clients and shareholders and help address society’s biggest challenges.

 

Business practices

Part of driving responsible growth is maintaining strong guidelines for business practices and professional and personal conduct that all employees, and anyone who acts on our behalf, are expected to adopt and uphold. This translates into the actions we take as we engage with customers, clients, shareholders, suppliers and each other.

 

What we offer

Bank of America is one of the world’s leading financial institutions, serving individuals, small- and middle-market businesses, large corporations, and governments with a full range of banking, investment management and other financial and risk management products and services.

 
 

Leadership

Our management team leads our company’s work to drive responsible growth and deliver for our clients, communities and shareholders. It is comprised of leaders for each area of our organization, the heads of our eight lines of business, and key leadership roles for our international and institutional client base.

 
 

History

The oldest parts of our company extend back 240 years. Since that time, we’ve come together from many sources to become what we are today: A company united in our purpose to help make financial lives better through the power of every connection.

Our story is all about the impact clients and communities can have and the progress they can make. And we are here to serve them, and to help them do it. This starts with a single idea for our company, across all of our businesses based on a simple question that has been core to our legacy of capabilities and service for 240 years: “What would you like the power to do?”

 

Our commitment to environmental sustainability

Bank of America is committed to improving the environment in how we approach our global business strategy, work with partners, make our operations more sustainable, support our employees, manage risks and govern our activities.

 

Building on our longstanding support for the Paris Climate Agreement, we have a goal to achieve net zero greenhouse gas (GHG) emissions in our financing activities, operations and supply chain before 2050.

Our Environmental Business Initiative will deploy and mobilize $1 trillion by 2030 to accelerate the transition to a low-carbon, sustainable economy, as part of a broader $1.5 trillion sustainable finance goal aligned to addressing the United Nation’s Sustainable Development Goals (SDGs). Our multi-year financing commitment provides financial capital, along with significant intellectual capital, to develop solutions to climate change and other environmental challenges. It focuses on low-carbon energy, energy efficiency, and sustainable transportation, in addition to addressing other important areas like water conservation, land use and waste.

We also are making our operations more sustainable – including achieving carbon neutrality and procuring 100% renewable electricity in 2019, a year ahead of schedule. We offer programs and benefits that help employees become better environmental stewards.

Importantly, we are committed to managing environmental and social risk, as well as providing industry-leading disclosures on our progress. For details, read our Environmental and Social Risk Policy Framework, newly released Task Force on Climate-related Financial Disclosures Report, and ESG Data Performance Summary, which aligns to G4 guidelines under the Global Reporting Initiative standards.

 

Business & partners

Since 2007, we have invested more than $200 billion in financing low-carbon and sustainable business activities across the globe through our Environmental Business Initiative. For years, our financing commitment has focused on providing capital that supports innovative solutions to climate change and other environmental challenges. Over the next ten years (2020-2030), we have committed an additional $1 trillion to help advance these efforts and to work toward achieving the United Nation’s Sustainable Development Goals (SDGs).

 

Operations & employees

As a large, global company, we understand the impact our operations have on the environment and the potential we have to make a difference. Our scale lets us take measurable action to reduce our impacts by operating with greater efficiency, by employing new technologies and by influencing our supply chain.

Our employees also play a key role in reducing our environmental impact. We empower them to make a difference through our My Environment® program, employee reimbursement programs and environmentally focused volunteer events.

 

Governance & policies

Our serious commitment to environmental activities starts at the top, with leadership that ensures strong governance and reporting. We set industry-leading business and operational goals, partnering across our lines of business to identify and advance solutions. We also have robust risk management of environmental issues related to our clients.

To give our investors, clients and communities a complete, transparent view of our approach to environmental and social risks, we have a dedicated Environmental and Social Risk Policy Framework. That framework sets out how we identify, measure, monitor and control these risks as part of our company’s risk framework.

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  • 18-05-2023 16:06:17

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