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Climate & energyOfficial statement
Bank of America reversed its commitments to cease financing coal mines
Bank of America has long claimed to support the Paris Climate Agreement and pledged to contribute net zero greenhouse gas emissions in its financing, operation, and supply chain by 2050.1 In 2021, the Bank pledged to stop financing new coal mines, coal-fired power plants, and Arctic oil and gas drilling projects, as well as to achieve net zero greenhouse gas emissions in its financing activities, operations, and supply chain before 2050.2 Recently, however, Bank of America reversed key climate risk management initiatives, including its commitments to cease financing coal mines, coal-fired power plants, and oil and gas drilling in the Arctic.
All six major US banks — JPMorgan Chase, Bank of America, Goldman Sachs, Citigroup, Morgan Stanley and Wells Fargo — have quit the Net Zero Banking Alliance, according to the new study from the Committee to Unleash Prosperity.
banks Citigroup and Bank of America , opens new tab said on Tuesday they are exiting the Net-Zero Banking Alliance (NZBA), a group of global banks that have pledged to curb greenhouse gas emissions.
The Net-Zero Banking Alliance (NZBA), which once represented a important collective effort by global banks to align their operations with net-zero emissions by 2050, has experienced a significant pullback. Several major institutions, including Goldman Sachs, Wells Fargo, Morgan Stanley, Bank of America, Citigroup, and J.P.
Bank of America has long claimed to support the Paris Climate Agreement and pledged to contribute net zero greenhouse gas emissions in its financing, operation, and supply chain by 2050.1 In 2021, the Bank pledged to stop financing new coal mines, coal-fired power plants, and Arctic oil and gas drilling projects, as well as to achieve net zero greenhouse gas emissions in its financing activities, operations, and supply chain before 2050.2 Recently, however, Bank of America reversed key climate risk management initiatives, including its commitments to cease financing coal mines, coal-fired power plants, and oil and gas drilling in the Arctic.
Bank of America has been identified as one of the top four financiers of fossil fuels globally.
From 2016 to 2022, Bank of America was responsible for nearly $280 billion in fossil-fuel financing — with projects stretching from the Arctic to the Amazon, and partnerships with oil companies Occidental and ExxonMobil, according to a report commissioned by the Sierra Club and other prominent environmental groups.
Ukraine & RussiaConfirmed
Bank of America pledges $1 million aid for Ukraine
Bank of America pledges $1 million aid for Ukraine for people fleeing the Russian invasion.
UPDATE 1-Wells Fargo, Bank of America each pledge $1 mln aid for Ukraine, people fleeing Russian invasion
Bank of America is spreading its donation across five groups - the Red Cross and Red Crescent network in Ukraine and the region, World Central Kitchen, Cooperative for Assistance and Relief Everywhere, International Medical Corps and Project Hope.
NEW YORK, March 2 (Reuters) - Wells Fargo & Co and Bank of America each pledged on Wednesday to donate $1 million to the American Red Cross and other non-profit groups that are helping Ukraine and refugees fleeing invasion by Russia.
Bank of America is spreading its donation across five groups - the Red Cross and Red Crescent network in Ukraine and the region, World Central Kitchen, Cooperative for Assistance and Relief Everywhere, International Medical Corps and Project Hope.
Wells Fargo, Bank of America each pledge $1 million aid for Ukraine, people fleeing Russian invasion
NEW YORK (Reuters) -Wells Fargo & Co and Bank of America each pledged on Wednesday to donate $1 million to the American Red Cross and other non-profit groups that are helping Ukraine and refugees fleeing invasion by Russia.
LGBTQ+ policiesConfirmed
Bank of America offers domestic partner benefits
Bank of America offered benefits to domestic partners in 1997 and received the highest score in HRC's Corporate Equality Index.
Bank of America’s new monthly debit card fee has been roundly criticized in recent weeks. But a new change in corporate policy change is likely to receive a much warmer reception. Starting next year, the nation’s largest bank will begin reimbursing its employees with same-sex partners for the extra taxes they pay for health insurance — something that their married heterosexual co-workers don’t have to worry about because the federal government recognizes them as an economic unit.
Bank of America was one of the pioneering companies to offer benefits to domestic partners in 1997, and it receives the highest score possible in HRC’s Corporate Equality Index.
Reproductive careConfirmed
Bank of America offers abortion travel reimbursement
Bank of America reportedly offers reimbursement for employee travel expenses to access legal abortion care.
NEW YORK (Reuters) - The second-largest U.S. bank, Bank of America, joined other top financial firms in saying on Friday it will cover travel costs for employees who need to go out-of-state to receive reproductive healthcare services like abortions, according to a statement from the bank.
Bank of America will cover employee travel costs for abortions
Citi, Bank of America, and Goldman Sachs responded to the Supreme Court's decision on Friday. Goldman said it will cover travel costs for employees seeking abortions, Insider first reported.
Bank of America joined a growing list of companies saying they will pay for employees to travel out of state for abortions after the U.S. Supreme Court overturned Roe v.
Bank of America to pay for employees to travel for abortions | Charlotte Observer
Bank of America joins companies paying for employee travel for abortions, reports say
Bank of America said it will reimburse travel for employees who need abortion services out of state.
One of the campaign’s 30-second TV ads listed the progressive initiatives that Bank of America has promoted in recent years. It claimed, "They’re funding abortions, demanding Americans comply with their woke climate agenda, they teach people that the U.S. is a system of White supremacy, while stripping away your Second Amendment rights.
Several of the companies, including Intuit and Bank of America, made statements last year offering to cover healthcare costs for employees who needed to travel out of state for medical procedures, in some cases explicitly mentioning abortion as an example.
Bank of America reportedly is among the latest to offer reimbursement for travel expenses incurred by an employee seeking an abortion in a state where it remains legal.
Bank of America joins companies supporting employee access to abortion – WSOC TV
Workplace equityConfirmed
Bank of America scraps diversity hiring goals
Bank of America scraps diversity goals for hiring and interviewing candidates.
Bank of America scraps diversity goals in latest Wall Street DEI retreat | Fortune
Bank of America Corp. is rolling back workplace representation targets and replacing references to diversity, joining peers in citing legal changes under the Trump administration.
BlackRock and Bank of America dropped their Diversity, Equity, and Inclusion policies — becoming the latest Wall Street giants to scrap the controversial initiative after the White House declared war on woke in corporate America.
Bank of America, which also filed its annual report yesterday, removed all references to “diversity and inclusion” mentioned in its 2023 report.
Bank of America, BlackRock and Citigroup have publicly scaled back DEI commitments, while Capital One appears to be walking a fine line, paring down efforts without making headlines.
Bank of America Corp. is rolling back workplace representation targets and replacing references to diversity, joining peers in citing legal changes under the Trump administration.
For the past four years, Bank of America has scored 100% in the Human Rights Campaign's Corporate Equality Index, a rating based on the bank's policies and efforts to support its LGBT associates.
LGBTQ+ policiesConfirmed
Bank of America — same-sex marriage laws
From 2017 to 2020, the Bank of America Charitable Foundation handed out more than $390,000 to eight such organisations who between them have resisted same-sex marriage laws and anti-discrimination protections for LGBTIQ people, challenged contraception and abortion access, and sought to ban gender-affirming healthcare for trans people.
From 2017 to 2020, the Bank of America Charitable Foundation handed out more than $390,000 to eight such organisations who between them have resisted same-sex marriage laws and anti-discrimination protections for LGBTIQ people, challenged contraception and abortion access, and sought to ban gender-affirming healthcare for trans people.