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Bank of America Corp
Bank of America's GHG Emissions Data Preview
In 2023, Bank of America completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased energy) and Scope 3 (indirect emissions across the value chain).
Bank of America has also provided a category-level breakdown for 10 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2023 | 2022 | 2021 | 2020 - 2017 |
|---|---|---|---|---|
Total Scope 1 | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | 0000000 |
Total Scope 2 | ||||
Market-Based | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | 0000000 |
Location-Based | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | 0000000 |
Total Scope 3 | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | 0000000 |
Total Scope 1 Revenue Intensity (tCO2e/$M) | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | 0000000 |
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aVerified Sources Behind Bank of America’s Greenhouse Gas (GHG) Emissions Data
Every figure on this dashboard has a transparent audit trail. With Tracenable, each data point is traceable back to its original source, viewable directly inside our platform. Explore Bank of America’s data sources below and access millions more through our Disclosure Search.
Insights into Bank of America's Operational Emissions
In 2023, the total operational greenhouse gas (GHG) emissions ofBank of America amounted to678,063metric tons of CO2 equivalent.This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2).a
Compared to 2022, the total operational greenhouse gas (GHG) emissions of Bank of Americadecreased by 3.31%, showing that the company has made progress in taking action to reduce the climate impact of its operations.a
Bank of America's Scope 1 Emissions Over Time
- Total Scope 1
- Year-over-Year Change
What are Bank of America's Scope 1 emissions?
In 2023, the total Scope 1 emissions of Bank of America were 68,050 metric tons of COâ‚‚ equivalent (tCOâ‚‚e).a
Has Bank of America reduced its Scope 1 emissions over time?
Since 2019, Bank of America's Scope 1 emissions have increased by 8.64%, reflecting a rising long-term trend in Scope 1 emissions over time.ab
Compared to the previous year(2022), Bank of America's Scope 1 emissions increased by 1.91%, suggesting that the company faced challenges in reducing emissions from its directly owned or controlled operations.a
What are Bank of America's Scope 2 emissions?
In 2023, Bank of America reported Scope 2 greenhouse gas (GHG) emissions of 17,736 tCOâ‚‚e using the market-based method and 610,013 tCOâ‚‚e using the location-based method.a
Has Bank of America reduced its Scope 2 emissions over time?
Since 2019, Bank of America's Scope 2 greenhouse gas (GHG) emissions (Location-Based)have decreased by 16.3%, reflecting a declining long-term trend in Scope 2 emissions over time.ab
Compared to the previous year(2022), Bank of America's Scope 2 emissions(Location-Based) have remained relatively stable, indicating that Bank of America's emissions have plateaued with no significant change in its energy consumption footprint.a
What methodology does Bank of America use for Scope 2 reporting?
In 2023, Bank of America reported its Scope 2 emissions using the market-based method and using the location-based method.a
Bank of America's Scope 2 Emissions Over Time
- Total Scope 2 Location-Based
- Total Scope 2 Market-Based
Insights into Bank of America's Value Chain Emissions
In 2023, Bank of America reported 1,799,968 metric tons of COâ‚‚ equivalent (tCOâ‚‚e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain.a
The 2023 disclosure of Bank of America includes a breakdown across 8of the 15 Scope 3 categories defined by the GHG Protocol,down from 9 in 2022, indicating a decline in reporting granularity and reduced insight into the company's full value chain emissions.a
Bank of America's Scope 3 Emissions Over Time
- Total Scope 3
- Year-over-Year Change
What are Bank of America's Scope 3 emissions?
In 2023, Bank of America reported total Scope 3 emissions of 1,799,968 metric tons of COâ‚‚ equivalent (tCOâ‚‚e).a
Approximately 99.33%of these emissions originated from upstream activities such as purchased goods and capital goods, while 0.67%came from downstream activities like product use, distribution, and end-of-life treatment.a
Has Bank of America reduced its Scope 3 emissions over time?
Since 2019, Bank of America's Scope 3 emissionshave decreased by 95.32%, reflecting a declining long-term trend in Scope 3 emissions over time.ac
Compared to the previous year (2022), Bank of America's Scope 3 emissions decreased by 95.33%, highlighting the company's efforts to lower indirect emissions from its value chain.a
What categories of Scope 3 emissions does Bank of America disclose?
In 2023, Bank of America reported emissions for 8 out of the 15 Scope 3 categories defined by the GHG Protocol.a
This partial disclosure allows for some insight into the company's indirect impacts.
What are the main sources of Bank of America's Scope 3 emissions?
In 2023, the largest contributors to Bank of America's Scope 3 emissions were:a
- Downstream Transportation and Distribution (Cat. 9): 1,000,000 tCOâ‚‚e(55.56%)
- Employee Commuting (Cat. 7): 355,974 tCOâ‚‚e(19.78%)
- Fuel- and Energy-Related Services (Cat. 3): 168,018 tCOâ‚‚e(9.33%)
Bank of America's Scope 3 Emissions by Categories
Insights into Bank of America’s GHG Emissions Intensity Compared to Industry Peers
In 2023, Bank of America reported Scope 1 greenhouse gas (GHG) emissions of 68,050 tCOâ‚‚e and total revenues of USD 98,580 millions. This translates into an emissions intensity of 0.69 tCOâ‚‚e per millions USD.a
Bank of America's Scope 1 Emissions Intensity Compared to Peers
How does Bank of America's GHG emissions intensity compare to its peers?
In 2023, Bank of America reported a Scope 1 emissions intensity of 0.69 tCOâ‚‚e per millions USD. Compared to the peer group median of 0.38, this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors.a
Where does Bank of America rank on GHG emissions intensity within its industry?
In 2023, Bank of America ranked 18 out of 23 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCOâ‚‚e per millions USD).a
Bank of America is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency.a
Insights into Bank of America's Total Carbon Footprint
In 2023, Bank of America reported a total carbon footprint of 2,478,031 metric tons of COâ‚‚ equivalent (tCOâ‚‚e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 93.69% decrease compared to 2022, indicating progress in reducing its overall greenhouse gas output.a
The largest contributor to Bank of America's total carbon footprint was Scope 3 emissions, accounting for 72.64% of the company's total carbon footprint, followed by Scope 2 emissions at 24.62%.a