Chennai: Building on Bank of America’s longstanding support for the Paris Climate Agreement, the company has outlined initial steps to achieve its goal of net zero greenhouse gas (GHG) emissions in its financing activities, operations and supply chain before 2050.
The bank said it continues to actively engage with its clients to help accelerate their own transitions to net zero, and it plans to establish interim science based emissions targets for high-emitting portfolios, including energy and power.
In addition, Bank of America released its broader 2030 operational and supply chain goals as part of a holistic commitment to environmental sustainability.
“It is critical that we leverage all parts of our business – beyond our direct operations – in order to accelerate the transition to a net zero global economy,” said the bank’s vice chairman, Anne Finucane, who leads the company’s environmental, social and governance, sustainable finance, capital deployment, and public policy efforts.