BofA: pledges net zero greenhouse gas emissions by 2050

(CercleFinance.com) - Bank of America, the second largest US bank by assets, said it aims to achieve net-zero emissions by 2050 after launching a number of steps in its financing activities, operations and supply chain.


BofA - which achieved carbon neutrality in its operations in 2019, a year ahead of schedule, said that it plans to purchase 100% zero carbon electricity, cut energy use by 55% and reduce drinking water use by 55%.

The lender also aims at increasing investment in the low-carbon technologies, such as sustainable agriculture, biofuels, water infrastructure, clean hydrogen, and carbon capture, it said in a statement.

The move comes as listed companies face increasing pressure from shareholders to tackle climate change, a factor that is now identified as a potential risk for shareholders.

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