[June 24, 2015] |
|
Bank of America Corporate Social Responsibility Activities Contribute to Economic Growth and Address Important Global and Local Issues
Through its annual Corporate Social Responsibility (CSR (News - Alert)) Report released
today, Bank of America shares successes and challenges of fulfilling its
purpose of making financial lives better for customers, clients and
communities through the power of every connection. The report includes
details on how CSR is integrated into Bank of America's business - its
policies, practices, services, products and employee benefits.
Bank of America Global Corporate Social Responsibility Executive Andrew
Plepler discusses how CSR permeates the company in the following video
clip: http://youtu.be/b6lCoODztMw.
In Bank of America's efforts to deliver on its purpose for customers and
clients and help build thriving communities around the world, the
company has:
-
Established a Global Corporate Social Responsibility Committee that
regularly reports to the Corporate Governance Committee of our board
of directors.
-
Demonstrated environmentally responsible investing by making one of
the largest commitments to address climate change in the banking
industry - $70 billion dollars, including a $10 billion Catalytic
Finance Initiative to accelerate clean energy investments in
low-carbon economies in emerging countries.
-
Partnered with other financial institutions to co-author the Green
Bond Principles to provide guidance on the issuance process for green
bonds, and launched the Bank
of America Merrill Lynch Green Bond Index. Bank of America was the
No. 1 underwriter of green bond issuances last year, helping to triple
the green bond investment volume from 2013 to 2014.
-
Simplified products and services and launched SafeBalance
Banking®, a low-fee account alternative that eliminates
overdrafts by only permitting transactions to be approved when the
customer has enough money in the account to fund them.
-
Expanded Better
Money Habits through an innovative online financial
literacy platform to provide accessible financial education options
and help individuals make more informed financial decisions.
-
Supported small businesses by committing $175 million in loans over
three years in partnership with the U.S. Small Business Administration
and select community development financial institutions. Bank of
America also provided $10.3 billion in new credit to small business
customers, giving entrepreneurs and innovators new opportunities to
boost the economy.
-
Contributed $200 million to address pressing global and local
community needs through the Bank
of America Charitable Foundation, including philanthropic
investments to more than 3,000 nonprofits. In addition to addressing
immediate needs such as hunger relief and workforce training, the
Foundation invests in longer-term solutions by educating nonprofit
leaders and their organizations' beneficiaries about better money
habits.
-
Engaged employees to contribute 2
million volunteer hours by connecting them to meaningful issues in
cities and regions around the world, enabling them to be a part of the
solution, including the company's first global, multicity build with
Habitat for Humanity.
The CSR Report is structured to follow and respond to the Global
Reporting Initiative (GRI) G3.1 framework and GRI's Financial Services
Sector Supplement, the industry standard by which CSR efforts are
evaluated and measured. The full report is available at www.bankofamerica.com/csrreport.
Bank of America Bank of America is one of the world's largest
financial institutions, serving 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 provides unmatched
convenience in the United States, serving approximately 48 million
consumer and small business relationships with approximately 4,800
retail financial centers and approximately 15,900 ATMs and award-winning
online banking with 31 million active users and approximately 17 million
mobile users. Bank of America is among the world's leading wealth
management companies and is a global leader in corporate and investment
banking and trading across a broad range of asset classes, serving
corporations, governments, institutions and individuals around the
world. Bank of America offers industry-leading support to approximately
3 million small business owners through a suite of innovative,
easy-to-use online products and services. The company serves clients
through operations in all 50 states, the District of Columbia, the U.S.
Virgin Islands, Puerto Rico and more than 35 countries. Bank of America
Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
Visit the Bank of America newsroom for moreĀ Bank
of America news.
www.bankofamerica.com
View source version on businesswire.com: http://www.businesswire.com/news/home/20150624005167/en/
[ Back To TMCnet.com's Homepage ]
|