Posted by bessie on Monday, December 08, 2008.

Bank of America’s environmental commitments

We’re glad to see that Bank of America, our partner for the Brighter Planet Visa, has taken some significant steps to become even more environmentally responsible.

They’ve recently announced that they will:

1) phase out loans to companies that do mountaintop removal for coal production. (BoA Coal Policy)

2) give $1 million to the Harvard Center for the Environment for a study on capturing the greenhouse gas emissions from burning coal.

3) continue to adopt the Carbon Principles. These are guidelines about the risks of investing in greenhouse gas emitting- public utility projects like coal plants.

In the bigger picture, Bank of America has made a broad environmental commitment of $20 billion over the next ten-years. The money will be used to advance sustainability across the board– in its operations, through its lending and investing, and in new products and services.

There’s room for eco-improvement in nearly every organization, but these are important steps for BoA and we at Brighter Planet applaud their efforts.

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