Search Icon
B of A’s Logo

B of A

Officially: Bank of America



Question Icon

“Act responsibly” is a corporate value that Bank of America loves to tout, so we’re wondering why on Earth it’s still funding the expansion of fossil fuels. 

The Banking on Climate Chaos report found that Bank of America was among the top fossil fuel financers between 2016 and 2021, lending and underwriting $232 billion to the fossil fuel industry. So if you’re banking with BOA or Merrill Lynch, there’s a chance your money is going to a who’s who list of climate destroyers. 

While B of A did recently announce new greenhouse gas emissions reduction goals, it has only set intensity rather than absolute reduction goals. Absolute targets aim to reduce emissions by a set amount, like 20 percent, whereas, intensity targets only set them relative to something else, like revenue. This means Bank of America’s plan to address “one of the world’s most pressing issues,” as it calls climate change, can actually allow for an increase in absolute carbon emissions and an expansion of its fossil fuel investments. 

As if that weren’t enough, Bank of America has relationships with major anti-environmental lobbying groups, including the U.S. Chamber of Commerce and Business Roundtable, which have long fought good climate policies

While Bank of America did receive an A- for its climate and water submissions to the CDP (formerly the Carbon Disclosure Project), it got a D from As You Sow’s Road to Net Zero report, for its financed emissions as well as its emissions reduction goals not being aligned with the Paris Agreement. If Bank of America truly wants to “act responsibly,” it needs to dramatically step up its approach.

Factors affecting B of A’s UNFK score

  • Has a relationship with the US Chamber of Commerce and/or its affiliates: yes
  • Has a relationship with Business Roundtable: yes
  • Has a relationship with the American Legislative Exchange Council (ALEC): not likely
  • InfluenceMap Grade: C-
  • Carbon Disclosure Project: Climate Change Grade: A-
  • Carbon Disclosure Project: Water Grade: A-
  • As You Sow Racial Justice Score (0-100): 26
  • As You Sow Road to Net Zero Score (0-18): 5
  • Banking Score (0-100): 0

B of A’s contributions last election cycle: 2022

(source: Open Secrets)

B of A’s Total PAC Contributions to Climate FKers:


Question Icon

B of A’s Total Individual Contributions to Climate FKers:


Question Icon

Total amount B of A contributed to Climate FKers (PAC + Individual Contributions)


Question Icon

B of A’s PAC and employees contributed funds to the campaigns of 68 Climate FKers

Chris’s Portrait
Chris Stewart

Republican Representative from Utah

They gave Chris $12,500

Todd’s Portrait
Todd Young

Republican Senator from Indiana

They gave Todd $10,900

Tim’s Portrait
Tim Scott

Republican Senator from South Carolina

They gave Tim $10,643

How B of A Can Raise Its Score

  • Cut ties with Business Roundtable and Chamber of Commerce (and affiliates) 
  • Set science based, Paris Agreement-aligned emissions reduction goals
  • Register science based emissions reduction goals with SBTi
  • Stop contributions to congresspeople with lifetime LCV scores of 20 and below
  • Include environmental justice as part of company’s overall racial justice stance
  • Ensure the company’s business operations are environmentally just