Bank of America has met its 100% renewable energy target one year ahead of schedule.
The bank said it had reached the renewables target by installing on-site solar capability at many of its facilities, completing several long-term power purchase agreements that will add new wind and solar energy capacity and by buying renewable energy credits.
Bank of America chief executive Brian Moynihan said: “We are delivering responsible growth by focusing on serving our clients, investing in our teammates, supporting the communities where we operate – and by addressing important societal priorities.
“Being carbon neutral is core to our $300bn, 10-year environmental business initiative that is helping finance the transition to a low-carbon future.”
The bank said it had also reduced scope 1 and 2 greenhouse gas emissions at its facilities by over 50% since 2010, and had also bought a limited amount of carbon offsets to achieve the carbon neutrality goal.
Offsets were purchased from four non-profit projects in the US, South America, Africa and Asia, it said.
The are helping to preserve biodiversity and drive reforestation, while furthering economic mobility for the local populations, the bank added.