Bank of America Summary

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Company Description
Bank of America is a bank holding company and a financial holding company serving individual consumers, small- and middle-market businesses, large corporations and governments offering banking, investing, asset management and other financial and risk management products and services. Its business segments include Deposits, Global Card Services, Home Loans & Insurance, Global Banking, Global Markets, Global Wealth & Investment Management with remaining operations recorded in All Other.  The company operates in more than 40 countries and is headquartered in North Carolina. 

Bank of America works with its energy and utility customers to reduce their greenhouse gas emissions. The company is building the Bank of America Tower, which will be the world's most environmentally-sound sky scraper. From 2000-2005, the company reduced paper usage 32 percent even as the bank's customer base grew 24 percent The bank recycles nearly 30,000 tons of paper annually, effectively recycling more paper than it uses for internal operations.

CEO: Brian T. Moynihan; Revenues: $82.68 Billion (2010); Employees: 288,000 (2011).

Statements on Climate Change
"We hold the core belief that we should contribute to the communities in which we work and live and that healthy communities create good business opportunities. We strive to create initiatives that apply business practices to good environmental behavior." -Anne Finucane, Bank of America Global Marketing and Corporate Affairs Executive, Head of the Bank of America's Environmental Council.

Climate Change Targets
In May 2011, the company set a goal to reduce its absolute greenhouse gas (GHG) emissions by 15 percent from 2011 to 2015, based on its 2010 baseline. This goal spans all of the company's global operations in more than 40 countries and builds on its previous GHG reduction of 18 percent between 2004 and 2009, which had focused on legacy Bank of America operations in the U.S. In March 2007, the Company made a 10-year, $20 billion commitment in lending, investments, products and services focused on addressing climate change.

Climate and Energy Strategies

Relevant Links: Bank of America Company Web Site, Bank of America 2010 Environmental Report, Bank of America's Climate Change Position