In 2024, 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 11 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2024 | 2023 | 2022 | 2021-2019 |
|---|---|---|---|---|
Total Scope 1 | 65,763a | 68,050a | 66,775a | |
Total Scope 2 | ||||
Market-Based | 16,587a | 17,736a | 17,794a | |
Location-Based | 617,413a | 610,013a | 634,510a | |
Total Scope 3 | 36,216,842a | 33,961,192a | 3,006,857b | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 0.6455a | 0.6903a | 0.7033a |
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In 2024, the total operational greenhouse gas (GHG) emissions of Bank of America amounted to 683,176 metric 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 2023, the total operational greenhouse gas (GHG) emissions of Bank of America increased by 0.75%, suggesting that the company faced challenges in reducing its emissions from its core operations.a
In 2024, the total Scope 1 emissions of Bank of America were 65,763 metric tons of CO₂ equivalent (tCO₂e).a
Since 2019, Bank of America's Scope 1 emissions have increased by 4.99%, reflecting a rising long-term trend in Scope 1 emissions over time.ac
Compared to the previous year (2023), Bank of America's Scope 1 emissions decreased by 3.36%, highlighting the company's efforts to lower direct emissions from assets it owns or controls.a
In 2024, Bank of America reported Scope 2 greenhouse gas (GHG) emissions of 16,587 tCO₂e using the market-based method and 617,413 tCO₂e using the location-based method.a
Since 2019, Bank of America's Scope 2 greenhouse gas (GHG) emissions (Location-Based) have decreased by 15.28%, reflecting a declining long-term trend in Scope 2 emissions over time.ac
Compared to the previous year (2023), 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
In 2024, Bank of America reported its Scope 2 emissions using the market-based method and using the location-based method.a
In 2024, Bank of America reported 36,216,842 metric tons of CO₂ equivalent (tCO₂e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain.a
The 2024 disclosure of Bank of America includes a breakdown across 11 of the 15 Scope 3 categories defined by the GHG Protocol, matching the level of disclosure in 2023, demonstrating consistent Scope 3 emissions reporting coverage year over year.a
In 2024, Bank of America reported total Scope 3 emissions of 36,216,842 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 9.36% of these emissions originated from upstream activities such as purchased goods and capital goods, while 90.64% came from downstream activities like product use, distribution, and end-of-life treatment.a
Since 2019, Bank of America's Scope 3 emissionshave remained relatively stable, indicating that Bank of America's emissions have plateaued with no significant change in its value chain footprint.ab
Compared to the previous year (2023), Bank of America's Scope 3 emissions remained relatively stable, indicating that Bank of America's emissions have plateaued with no significant change in its value chain footprint.a
In 2024, Bank of America reported emissions for 11 out of the 15 Scope 3 categories defined by the GHG Protocol.a
This reflects a high level of granularity and transparency in the company's emissions reporting.
In 2024, the largest contributors to Bank of America's Scope 3 emissions were:a
In 2024, Bank of America reported Scope 1 greenhouse gas (GHG) emissions of 65,763 tCO₂e and total revenues of USD 101,879 millions. This translates into an emissions intensity of 0.65 tCO₂e per millions USD.a
In 2024, Bank of America reported a Scope 1 emissions intensity of 0.65 tCO₂e per millions USD. Compared to the peer group median of 0.56, this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors.a
In 2024, Bank of America ranked 15 out of 25 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e 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
In 2024, Bank of America reported a total carbon footprint of 36,900,018 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 6.53% increase compared to 2023, suggesting a rise in emissions across its operations or value chain.a
The largest contributor to Bank of America's total carbon footprint was Scope 3 emissions, accounting for 98.15% of the company's total carbon footprint, followed by Scope 2 emissions at 1.67%.a