BofA tops CDP Global 500 Report

BofA tops CDP Global 500 Report

20 September, 2011
High scores for green bank
Bank of America ranked first among financial services company in Carbon Disclosure Project

Bank of America is the top-ranked global financial services company, and ranked fourth across all sectors in the recently released Carbon Disclosure Project (CDP) Global 500 Report. This ranking is based on the combined impact of both the Carbon Disclosure Leadership Index (CDLI) and the Carbon Performance Leadership Index (CPLI) ratings.

Overall, the report measures how well the 500 largest companies in the world disclose their greenhouse gas emissions, establish climate change strategies, set reduction targets and make performance improvements. In the report, Bank of America scored 97 out of a possible 100 points in the CDLI for its disclosure process and achieved the highest performance rank possible in the CPLI.

“We appreciate this recognition from CDP, which demonstrates how far we have come as a company. Bank of America has and continues to apply a great deal of discipline around our monitoring, efficiency and disclosure performance,” said Global Technology and Operations Executive and Bank of America Environmental Council Chair Catherine P. Bessant. “As we move forward, our challenge is to continue to find innovative ways to deliver on the ambitious goals we have established, and to help our clients, many of whom are featured in these reports, do the same.”

In addition to the global ranking, CDP separately ranked Bank of America first among financial services companies and second among all of the largest U.S. companies included in the CDLI and CPLI in its S&P 500 Report released yesterday in New York. “Bank of America is to be congratulated on the progress they have made in both disclosing and managing their carbon footprint over the past few years,” said Paul Simpson, chief executive officer, Carbon Disclosure Project. “Their strategic commitment to address climate change serves as an example to others.”

CDP is backed by 551 investors with assets of $71 trillion and plays an important role in encouraging companies to measure and manage their direct and indirect carbon emissions and broader environmental footprint, as well as supporting the development of sustainable supply chain engagement.
Bank of America was one of the first global financial institutions to set greenhouse gas (GHG) emission reduction targets in 2004. In May of 2011, the company announced a new goal that puts it on the path to achieve an aggregate global GHG reduction of more than 30 percent by 2015. This figure is comprised of the 18 percent reduction achieved between 2004 and 2009, and the new goal to reduce emissions 15 percent by 2015, based on a 2010 baseline.

By: Ecozine Staff


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