The Pew Center on Global Climate Change announced today that Bank of America has joined the Pew Center's Business Environmental Leadership Council (BELC) and its efforts to address global climate change. One of the world's leading financial institutions, Bank of America adopted a climate change position recognizing that “climate change and atmospheric pollution represent a risk to the ultimate stability and sustainability of our way of life.” The company has set a goal to reduce direct greenhouse gas emissions from its operations by 9 percent from 2004 levels by 2009. In addition, Bank of America is constructing a state of the art 2.1 million-square-foot tower, designed to be one of the most environmentally responsible high-rise office buildings, which will serve as the headquarters for Bank of America's operations in New York City.
“The financial industry is essential to a successful climate strategy in the United States,” said Eileen Claussen, President of the Pew Center on Global Climate Change. “Bank of America recognizes that climate change poses both risks and opportunities to economies and societies around the world, and I am delighted to have their expertise and support as we work to craft reasonable climate policy in this country.”
“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,” said Anne Finucane, Bank of America Global Marketing and Corporate Affairs executive and head of the company's environmental council. “We strive to create initiatives that apply business practices to good environmental behavior.”
Bank of America serves individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company serves more than 54 million consumer and small-business relationships with more than 5,700 retail banking offices. The company serves clients in 175 countries and has relationships with 98 percent of the U.S. Fortune 500 companies and 79 percent of the Global Fortune 500. Bank of America Corporation (NYSE: BAC) is listed on the New York Stock Exchange.
The BELC was established by the Pew Center in 1998. The group is comprised of mainly Fortune 500 companies representing a diverse group of industries including energy, automobiles, manufacturing, chemicals, pharmaceuticals, metals, mining, paper and forest products, consumer goods and appliances, telecommunications, and high technology. Individually and collectively, these companies are demonstrating that it is possible to take action to address climate change while maintaining competitive excellence, growth, and profitability. The BELC is now the largest U.S.-based association of corporations focused on addressing the challenges of climate change, with 42 companies representing over 3 million employees and a combined market value of more than $2.4 trillion.
The other members of the BELC are: ABB; Air Products; Alcan; Alcoa Inc.; American Electric Power; Baxter International Inc.; The Boeing Company; BP; California Portland Cement; CH2M HILL; Cummins Inc.; Deutsche Telekom; DTE Energy; Duke Energy; DuPont; Entergy; Exelon; GE; Georgia-Pacific; Hewlett-Packard Company; Holcim (US) Inc.; IBM; Intel; Interface Inc.; John Hancock Financial Services; Lockheed Martin; Marsh, Inc.; Novartis; Ontario Power Generation; PG&E Corporation; Rio Tinto; Rohm and Haas; Royal Dutch/Shell; SC Johnson; Sunoco; Toyota; TransAlta; United Technologies; Weyerhaeuser; Whirlpool Corporation; and Wisconsin Energy Corporation.
For more information about global climate change and the activities of the Pew Center and the BELC, visit www.pewclimate.org.
For more information about Bank of America's commitment to the environment, visit http://www.bankofamerica.com/environment/.
The Pew Center on Global Climate Change was established in May 1998 by The Pew Charitable Trusts, one of the United States' largest philanthropies and an influential voice in efforts to improve the quality of the environment. The Pew Center is an independent, nonprofit, and non-partisan organization dedicated to providing credible information, straight answers, and innovative solutions in the effort to address global climate change. The Pew Center is led by Eileen Claussen, the former U.S. Assistant Secretary of State for Oceans and International Environmental and Scientific Affairs.
Pew is no longer active in this line of work, but for more information, visit the Center for Climate and Energy Solutions site.