Bank of America Taps Duke Energy to Expand Renewable Energy Commitment

Bank of America has announced it is partnering with Duke Energy to further expand its renewable energy commitment by powering its headquarters and other Charlotte operations with solar energy. Through a renewable energy sleeved-power purchase agreement (PPA), the company is participating in Duke Energy’s Green Source Advantage (GSA) program. The bank is the first company and financial institution to sign a 10-year agreement for electricity and Green-e® certified renewable energy certificates (RECs) through this program.   The purchase of a 25-megawatt (MWAC) solar project’s electricity output and RECs will cover 45%…

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Bank of America Achieves Carbon Neutrality

Bank of America has announced that it has met its carbon neutrality goal a year ahead of schedule, pending third-party verification. The goal was accomplished by reducing Scope 1 and 2 emissions from its facilities, purchasing 100 percent renewable electricity and buying carbon offsets for its remaining unavoidable emissions. “We are delivering responsible growth by focusing on serving our clients, investing in our teammates, supporting the communities where we operate – AND by addressing important societal priorities,” said Brian Moynihan, CEO of Bank of America. “Being carbon neutral is core…

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Ireland Welcomes a New Mná na hÉireann – Women of Ireland Fund

Social Innovation Fund Ireland, in partnership with Bank of America and the Department of Rural and Community Development, are today pleased to announce the Mná na hÉireann – Women of Ireland Fund. The new fund, which is the first of its kind in Ireland has been established to support charitable and social enterprise organisations that seek to enhance the economic mobility of women, by investing in organisations that provide training, upskilling, education and other services directly to disadvantaged women. According to figures from the Central Statistics Office Ireland, the gender…

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Arjuna Capital: BNY Mellon Joins Bank of America, Citi & Wells Fargo As 4th Bank In 4 Weeks Working To Close Gender Pay Gap

In less than a month, four of the biggest banks and financial institutions in the U.S. have disclosed efforts to remedy gender pay inequity. Responding to shareholder proposals from Arjuna Capital calling for detailed reports and wage data disclosure, the Bank of New York Mellon – the world’s largest custodian bank and asset servicing company – became the fourth bank since January 15th to agree to close both its gender and racial pay gaps.  In response, Arjuna Capital withdrew its shareholder proposal at BNY Mellon.  Four of the nine banks…

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Bank of America Is 2nd Top U.S. Bank to Act on Shareholder Pressure to Close Gender Pay Gap

Six U.S. banks and financial institutions were first targeted for gender pay gap action in 2017.  This week, Bank of America (BofA) became the second of the banks to agree to report on and work to close the gender pay gap.  In response to BofA’s steps, Arjuna Capital withdrew its gender pay shareholder proposal today, along with co-filer Baldwin Brothers Inc. (1)  On January 15th, Citigroup was the first of the six top financial institutions to take such action.  Repeating the sector-specific gender pay equity campaign that led earlier to…

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