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Select an assessment year:

  • Overall approach
    8/16
    • Overarching commitment on deforestation
      8/14
      Deforestation commitment
      Reduce deforestation
      8/14
      "Bank of America will use due diligence measures to assure that lending proceeds are not used to finance commercial projects or operations that result in resource extraction from, or the clearing of [...] Primary tropical moist forests [...] Intact forests as defined by the World Resource Institute (WRI) [...] Primary forests in temperate or boreal forest regions that are not managed using sustainable forestry practices as verified by an independent third party audit [...] High conservation value forests unless under approved conservation plans verified by an independent, third party audit with necessary permits granted by applicable governmental/regulatory authorities."
    • Company must have anti-corruption policy
      0/2
  • Commodity score
    24/64
    • Beef & Leather
      13/64
      • Commitment Strength
        7/42
        • Commodity-specific financing policy
          0/9.6
          • Commitment details
            No
            0/8
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must be legally operated
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must protect priority forests or globally important landscapes
          7.4/9.6
          • Commitment details
            Primary/Intact/Natural/HCV/HCS - Required
            6/8
            Commitment details
            Primary/Intact/Natural/HCV/HCS - Required
            6/8
            "In addition, we will not knowingly engage in the following types of activities that, while not illegal, are contrary to our values, operating principles and Code of Conduct: [...] Natural resource extraction in UNESCO World Heritage sites – engaging in transactions focused on natural resource extraction within UNESCO World Heritage sites, unless there is prior consensus between UNESCO and the host country’s governmental authorities that activities will not adversely affect the natural or cultural value of the site”. “If client activity is known or anticipated to directly impact a World Heritage Site, relationship managers are directed to notify SMEs within Bank of America’s ESG Group for further guidance. Review of these situations involves client engagement, a deep review of the client activity, and internal escalation and discussion among senior risk committees.”
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "In addition, we will not knowingly engage in the following types of activities that, while not illegal, are contrary to our values, operating principles and Code of Conduct: [...] Natural resource extraction in UNESCO World Heritage sites – engaging in transactions focused on natural resource extraction within UNESCO World Heritage sites, unless there is prior consensus between UNESCO and the host country’s governmental authorities that activities will not adversely affect the natural or cultural value of the site”. “If client activity is known or anticipated to directly impact a World Heritage Site, relationship managers are directed to notify SMEs within Bank of America’s ESG Group for further guidance. Review of these situations involves client engagement, a deep review of the client activity, and internal escalation and discussion among senior risk committees.”
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "In addition, we will not knowingly engage in the following types of activities that, while not illegal, are contrary to our values, operating principles and Code of Conduct: [...] Natural resource extraction in UNESCO World Heritage sites – engaging in transactions focused on natural resource extraction within UNESCO World Heritage sites, unless there is prior consensus between UNESCO and the host country’s governmental authorities that activities will not adversely affect the natural or cultural value of the site”. “If client activity is known or anticipated to directly impact a World Heritage Site, relationship managers are directed to notify SMEs within Bank of America’s ESG Group for further guidance. Review of these situations involves client engagement, a deep review of the client activity, and internal escalation and discussion among senior risk committees.”
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "In addition, we will not knowingly engage in the following types of activities that, while not illegal, are contrary to our values, operating principles and Code of Conduct: [...] Natural resource extraction in UNESCO World Heritage sites – engaging in transactions focused on natural resource extraction within UNESCO World Heritage sites, unless there is prior consensus between UNESCO and the host country’s governmental authorities that activities will not adversely affect the natural or cultural value of the site”. “If client activity is known or anticipated to directly impact a World Heritage Site, relationship managers are directed to notify SMEs within Bank of America’s ESG Group for further guidance. Review of these situations involves client engagement, a deep review of the client activity, and internal escalation and discussion among senior risk committees.”
          • Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            "In addition, we will not knowingly engage in the following types of activities that, while not illegal, are contrary to our values, operating principles and Code of Conduct: [...] Natural resource extraction in UNESCO World Heritage sites – engaging in transactions focused on natural resource extraction within UNESCO World Heritage sites, unless there is prior consensus between UNESCO and the host country’s governmental authorities that activities will not adversely affect the natural or cultural value of the site”. “If client activity is known or anticipated to directly impact a World Heritage Site, relationship managers are directed to notify SMEs within Bank of America’s ESG Group for further guidance. Review of these situations involves client engagement, a deep review of the client activity, and internal escalation and discussion among senior risk committees.”
        • Assurance mechanism to ensure compliance
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must have a grievance mechanism
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Commitments must be timebound
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
      • Social Considerations
        6/22
        • Company must ensure Free, Prior and Informed Consent
          5.6/5.6
          • Commitment details
            Yes - Require
            4/4
            Commitment details
            Yes - Require
            4/4
            "Bank of America recognizes that Indigenous Peoples, Native, and First Nations Communities have cultural beliefs, values and lands that are often under threat. We conduct enhanced due diligence for transactions in which the majority use of proceeds is attributed to identified activities that may negatively impact an area used by or traditionally claimed by an indigenous community. For these transactions, we expect our clients to demonstrate alignment with the objectives and requirements of the International Finance Corporation (IFC) Performance Standard 7, which addresses impacts to Indigenous Peoples including free, prior and informed consent.”
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "Bank of America recognizes that Indigenous Peoples, Native, and First Nations Communities have cultural beliefs, values and lands that are often under threat. We conduct enhanced due diligence for transactions in which the majority use of proceeds is attributed to identified activities that may negatively impact an area used by or traditionally claimed by an indigenous community. For these transactions, we expect our clients to demonstrate alignment with the objectives and requirements of the International Finance Corporation (IFC) Performance Standard 7, which addresses impacts to Indigenous Peoples including free, prior and informed consent.”
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "Bank of America recognizes that Indigenous Peoples, Native, and First Nations Communities have cultural beliefs, values and lands that are often under threat. We conduct enhanced due diligence for transactions in which the majority use of proceeds is attributed to identified activities that may negatively impact an area used by or traditionally claimed by an indigenous community. For these transactions, we expect our clients to demonstrate alignment with the objectives and requirements of the International Finance Corporation (IFC) Performance Standard 7, which addresses impacts to Indigenous Peoples including free, prior and informed consent.”
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "Bank of America recognizes that Indigenous Peoples, Native, and First Nations Communities have cultural beliefs, values and lands that are often under threat. We conduct enhanced due diligence for transactions in which the majority use of proceeds is attributed to identified activities that may negatively impact an area used by or traditionally claimed by an indigenous community. For these transactions, we expect our clients to demonstrate alignment with the objectives and requirements of the International Finance Corporation (IFC) Performance Standard 7, which addresses impacts to Indigenous Peoples including free, prior and informed consent.”
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "Bank of America recognizes that Indigenous Peoples, Native, and First Nations Communities have cultural beliefs, values and lands that are often under threat. We conduct enhanced due diligence for transactions in which the majority use of proceeds is attributed to identified activities that may negatively impact an area used by or traditionally claimed by an indigenous community. For these transactions, we expect our clients to demonstrate alignment with the objectives and requirements of the International Finance Corporation (IFC) Performance Standard 7, which addresses impacts to Indigenous Peoples including free, prior and informed consent.”
        • Company must respect labour rights
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must address gender equality issues
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must encourage the inclusion of small-scale farmers
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
    • Palm oil
      39/64
      • Commitment Strength
        33/42
        • Commodity-specific financing policy
          9.4/9.6
          • Commitment details
            Yes
            8/8
            Commitment details
            Yes
            8/8
            Type of policy: Deforestation-free
            “We require clients whose business is focused on ownership and management of palm oil plantations and operations, including growers and mills, to have their operations certified, or have in place an outlined action plan and schedule for certification. We use the Roundtable on Sustainable Palm Oil (RSPO) certification or equivalent certification standards as a minimum requirement for clients, and closely monitor developments relating to the sustainable sourcing of palm oil.”
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            “We require clients whose business is focused on ownership and management of palm oil plantations and operations, including growers and mills, to have their operations certified, or have in place an outlined action plan and schedule for certification. We use the Roundtable on Sustainable Palm Oil (RSPO) certification or equivalent certification standards as a minimum requirement for clients, and closely monitor developments relating to the sustainable sourcing of palm oil.”
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            “We require clients whose business is focused on ownership and management of palm oil plantations and operations, including growers and mills, to have their operations certified, or have in place an outlined action plan and schedule for certification. We use the Roundtable on Sustainable Palm Oil (RSPO) certification or equivalent certification standards as a minimum requirement for clients, and closely monitor developments relating to the sustainable sourcing of palm oil.”
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            “We require clients whose business is focused on ownership and management of palm oil plantations and operations, including growers and mills, to have their operations certified, or have in place an outlined action plan and schedule for certification. We use the Roundtable on Sustainable Palm Oil (RSPO) certification or equivalent certification standards as a minimum requirement for clients, and closely monitor developments relating to the sustainable sourcing of palm oil.”
          • Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            “We require clients whose business is focused on ownership and management of palm oil plantations and operations, including growers and mills, to have their operations certified, or have in place an outlined action plan and schedule for certification. We use the Roundtable on Sustainable Palm Oil (RSPO) certification or equivalent certification standards as a minimum requirement for clients, and closely monitor developments relating to the sustainable sourcing of palm oil.”
        • Companies must be legally operated
          3.6/5.6
          • Commitment details
            Own operations - Require
            2/4
            Commitment details
            Own operations - Require
            2/4
            “While we expect our clients to comply with environmental laws and regulations, we also take additional measures to identify, evaluate and mitigate environmental and social risks for certain clients, business activities, industries and geographies [...] Issues that need additional enhanced due diligence are detailed in the sections below [....] Forestry [....] Palm Oil.”
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            “While we expect our clients to comply with environmental laws and regulations, we also take additional measures to identify, evaluate and mitigate environmental and social risks for certain clients, business activities, industries and geographies [...] Issues that need additional enhanced due diligence are detailed in the sections below [....] Forestry [....] Palm Oil.”
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            “While we expect our clients to comply with environmental laws and regulations, we also take additional measures to identify, evaluate and mitigate environmental and social risks for certain clients, business activities, industries and geographies [...] Issues that need additional enhanced due diligence are detailed in the sections below [....] Forestry [....] Palm Oil.”
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            “While we expect our clients to comply with environmental laws and regulations, we also take additional measures to identify, evaluate and mitigate environmental and social risks for certain clients, business activities, industries and geographies [...] Issues that need additional enhanced due diligence are detailed in the sections below [....] Forestry [....] Palm Oil.”
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "While we expect our clients to comply with environmental laws and regulations, we also take additional measures to identify, evaluate and mitigate environmental and social risks for certain clients, business activities, industries and geographies [...] Issues that need additional enhanced due diligence are detailed in the sections below [....] Forestry [....] Palm Oil.”
        • Companies must protect priority forests or globally important landscapes
          9.4/9.6
          • Commitment details
            All high priority landscapes - Required
            8/8
            Commitment details
            All high priority landscapes - Required
            8/8
            “We require clients whose business is focused on ownership and management of palm oil plantations and operations, including growers and mills, to have their operations certified, or have in place an outlined action plan and schedule for certification. We use the Roundtable on Sustainable Palm Oil (RSPO) certification or equivalent certification standards as a minimum requirement for clients, and closely monitor developments relating to the sustainable sourcing of palm oil.” "“In addition, we will not knowingly engage in the following types of activities that, while not illegal, are contrary to our values, operating principles and Code of Conduct: [...] Natural resource extraction in UNESCO World Heritage sites – engaging in transactions focused on natural resource extraction within UNESCO World Heritage sites, unless there is prior consensus between UNESCO and the host country’s governmental authorities that activities will not adversely affect the natural or cultural value of the site”. “If client activity is known or anticipated to directly impact a World Heritage Site, relationship managers are directed to notify SMEs within Bank of America’s ESG Group for further guidance. Review of these situations involves client engagement, a deep review of the client activity, and internal escalation and discussion among senior risk committees.”
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            “We require clients whose business is focused on ownership and management of palm oil plantations and operations, including growers and mills, to have their operations certified, or have in place an outlined action plan and schedule for certification. We use the Roundtable on Sustainable Palm Oil (RSPO) certification or equivalent certification standards as a minimum requirement for clients, and closely monitor developments relating to the sustainable sourcing of palm oil.” "“In addition, we will not knowingly engage in the following types of activities that, while not illegal, are contrary to our values, operating principles and Code of Conduct: [...] Natural resource extraction in UNESCO World Heritage sites – engaging in transactions focused on natural resource extraction within UNESCO World Heritage sites, unless there is prior consensus between UNESCO and the host country’s governmental authorities that activities will not adversely affect the natural or cultural value of the site”. “If client activity is known or anticipated to directly impact a World Heritage Site, relationship managers are directed to notify SMEs within Bank of America’s ESG Group for further guidance. Review of these situations involves client engagement, a deep review of the client activity, and internal escalation and discussion among senior risk committees.”
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            “We require clients whose business is focused on ownership and management of palm oil plantations and operations, including growers and mills, to have their operations certified, or have in place an outlined action plan and schedule for certification. We use the Roundtable on Sustainable Palm Oil (RSPO) certification or equivalent certification standards as a minimum requirement for clients, and closely monitor developments relating to the sustainable sourcing of palm oil.” "“In addition, we will not knowingly engage in the following types of activities that, while not illegal, are contrary to our values, operating principles and Code of Conduct: [...] Natural resource extraction in UNESCO World Heritage sites – engaging in transactions focused on natural resource extraction within UNESCO World Heritage sites, unless there is prior consensus between UNESCO and the host country’s governmental authorities that activities will not adversely affect the natural or cultural value of the site”. “If client activity is known or anticipated to directly impact a World Heritage Site, relationship managers are directed to notify SMEs within Bank of America’s ESG Group for further guidance. Review of these situations involves client engagement, a deep review of the client activity, and internal escalation and discussion among senior risk committees.”
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            “We require clients whose business is focused on ownership and management of palm oil plantations and operations, including growers and mills, to have their operations certified, or have in place an outlined action plan and schedule for certification. We use the Roundtable on Sustainable Palm Oil (RSPO) certification or equivalent certification standards as a minimum requirement for clients, and closely monitor developments relating to the sustainable sourcing of palm oil.” "“In addition, we will not knowingly engage in the following types of activities that, while not illegal, are contrary to our values, operating principles and Code of Conduct: [...] Natural resource extraction in UNESCO World Heritage sites – engaging in transactions focused on natural resource extraction within UNESCO World Heritage sites, unless there is prior consensus between UNESCO and the host country’s governmental authorities that activities will not adversely affect the natural or cultural value of the site”. “If client activity is known or anticipated to directly impact a World Heritage Site, relationship managers are directed to notify SMEs within Bank of America’s ESG Group for further guidance. Review of these situations involves client engagement, a deep review of the client activity, and internal escalation and discussion among senior risk committees.”
          • Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            “We require clients whose business is focused on ownership and management of palm oil plantations and operations, including growers and mills, to have their operations certified, or have in place an outlined action plan and schedule for certification. We use the Roundtable on Sustainable Palm Oil (RSPO) certification or equivalent certification standards as a minimum requirement for clients, and closely monitor developments relating to the sustainable sourcing of palm oil.” "“In addition, we will not knowingly engage in the following types of activities that, while not illegal, are contrary to our values, operating principles and Code of Conduct: [...] Natural resource extraction in UNESCO World Heritage sites – engaging in transactions focused on natural resource extraction within UNESCO World Heritage sites, unless there is prior consensus between UNESCO and the host country’s governmental authorities that activities will not adversely affect the natural or cultural value of the site”. “If client activity is known or anticipated to directly impact a World Heritage Site, relationship managers are directed to notify SMEs within Bank of America’s ESG Group for further guidance. Review of these situations involves client engagement, a deep review of the client activity, and internal escalation and discussion among senior risk committees.”
        • Assurance mechanism to ensure compliance
          5.4/5.6
          • Commitment details
            Require
            4/4
            Commitment details
            Require
            4/4
            Certification scheme (if applicable): RSPO

            Verification method: Certification Scheme
            “We require clients whose business is focused on ownership and management of palm oil plantations and operations, including growers and mills, to have their operations certified, or have in place an outlined action plan and schedule for certification. We use the Roundtable on Sustainable Palm Oil (RSPO) certification or equivalent certification standards as a minimum requirement for clients, and closely monitor developments relating to the sustainable sourcing of palm oil.”
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            “We require clients whose business is focused on ownership and management of palm oil plantations and operations, including growers and mills, to have their operations certified, or have in place an outlined action plan and schedule for certification. We use the Roundtable on Sustainable Palm Oil (RSPO) certification or equivalent certification standards as a minimum requirement for clients, and closely monitor developments relating to the sustainable sourcing of palm oil.”
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            “We require clients whose business is focused on ownership and management of palm oil plantations and operations, including growers and mills, to have their operations certified, or have in place an outlined action plan and schedule for certification. We use the Roundtable on Sustainable Palm Oil (RSPO) certification or equivalent certification standards as a minimum requirement for clients, and closely monitor developments relating to the sustainable sourcing of palm oil.”
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            “We require clients whose business is focused on ownership and management of palm oil plantations and operations, including growers and mills, to have their operations certified, or have in place an outlined action plan and schedule for certification. We use the Roundtable on Sustainable Palm Oil (RSPO) certification or equivalent certification standards as a minimum requirement for clients, and closely monitor developments relating to the sustainable sourcing of palm oil.”
          • Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            “We require clients whose business is focused on ownership and management of palm oil plantations and operations, including growers and mills, to have their operations certified, or have in place an outlined action plan and schedule for certification. We use the Roundtable on Sustainable Palm Oil (RSPO) certification or equivalent certification standards as a minimum requirement for clients, and closely monitor developments relating to the sustainable sourcing of palm oil.”
        • Companies must have a grievance mechanism
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Commitments must be timebound
          5.4/5.6
          • Commitment details
            Require
            4/4
            Commitment details
            Require
            4/4
            Type of policy: Compliance is prerequisite for financing
            “We require clients whose business is focused on ownership and management of palm oil plantations and operations, including growers and mills, to have their operations certified, or have in place an outlined action plan and schedule for certification. We use the Roundtable on Sustainable Palm Oil (RSPO) certification or equivalent certification standards as a minimum requirement for clients, and closely monitor developments relating to the sustainable sourcing of palm oil.”
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            “We require clients whose business is focused on ownership and management of palm oil plantations and operations, including growers and mills, to have their operations certified, or have in place an outlined action plan and schedule for certification. We use the Roundtable on Sustainable Palm Oil (RSPO) certification or equivalent certification standards as a minimum requirement for clients, and closely monitor developments relating to the sustainable sourcing of palm oil.”
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            “We require clients whose business is focused on ownership and management of palm oil plantations and operations, including growers and mills, to have their operations certified, or have in place an outlined action plan and schedule for certification. We use the Roundtable on Sustainable Palm Oil (RSPO) certification or equivalent certification standards as a minimum requirement for clients, and closely monitor developments relating to the sustainable sourcing of palm oil.”
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            “We require clients whose business is focused on ownership and management of palm oil plantations and operations, including growers and mills, to have their operations certified, or have in place an outlined action plan and schedule for certification. We use the Roundtable on Sustainable Palm Oil (RSPO) certification or equivalent certification standards as a minimum requirement for clients, and closely monitor developments relating to the sustainable sourcing of palm oil.”
          • Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            “We require clients whose business is focused on ownership and management of palm oil plantations and operations, including growers and mills, to have their operations certified, or have in place an outlined action plan and schedule for certification. We use the Roundtable on Sustainable Palm Oil (RSPO) certification or equivalent certification standards as a minimum requirement for clients, and closely monitor developments relating to the sustainable sourcing of palm oil.”
      • Social Considerations
        6/22
        • Company must ensure Free, Prior and Informed Consent
          5.6/5.6
          • Commitment details
            Yes - Require
            4/4
            Commitment details
            Yes - Require
            4/4
            "Bank of America recognizes that Indigenous Peoples, Native, and First Nations Communities have cultural beliefs, values and lands that are often under threat. We conduct enhanced due diligence for transactions in which the majority use of proceeds is attributed to identified activities that may negatively impact an area used by or traditionally claimed by an indigenous community. For these transactions, we expect our clients to demonstrate alignment with the objectives and requirements of the International Finance Corporation (IFC) Performance Standard 7, which addresses impacts to Indigenous Peoples including free, prior and informed consent.”
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "Bank of America recognizes that Indigenous Peoples, Native, and First Nations Communities have cultural beliefs, values and lands that are often under threat. We conduct enhanced due diligence for transactions in which the majority use of proceeds is attributed to identified activities that may negatively impact an area used by or traditionally claimed by an indigenous community. For these transactions, we expect our clients to demonstrate alignment with the objectives and requirements of the International Finance Corporation (IFC) Performance Standard 7, which addresses impacts to Indigenous Peoples including free, prior and informed consent.”
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "Bank of America recognizes that Indigenous Peoples, Native, and First Nations Communities have cultural beliefs, values and lands that are often under threat. We conduct enhanced due diligence for transactions in which the majority use of proceeds is attributed to identified activities that may negatively impact an area used by or traditionally claimed by an indigenous community. For these transactions, we expect our clients to demonstrate alignment with the objectives and requirements of the International Finance Corporation (IFC) Performance Standard 7, which addresses impacts to Indigenous Peoples including free, prior and informed consent.”
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "Bank of America recognizes that Indigenous Peoples, Native, and First Nations Communities have cultural beliefs, values and lands that are often under threat. We conduct enhanced due diligence for transactions in which the majority use of proceeds is attributed to identified activities that may negatively impact an area used by or traditionally claimed by an indigenous community. For these transactions, we expect our clients to demonstrate alignment with the objectives and requirements of the International Finance Corporation (IFC) Performance Standard 7, which addresses impacts to Indigenous Peoples including free, prior and informed consent.”
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "Bank of America recognizes that Indigenous Peoples, Native, and First Nations Communities have cultural beliefs, values and lands that are often under threat. We conduct enhanced due diligence for transactions in which the majority use of proceeds is attributed to identified activities that may negatively impact an area used by or traditionally claimed by an indigenous community. For these transactions, we expect our clients to demonstrate alignment with the objectives and requirements of the International Finance Corporation (IFC) Performance Standard 7, which addresses impacts to Indigenous Peoples including free, prior and informed consent.”
        • Company must respect labour rights
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must address gender equality issues
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must encourage the inclusion of small-scale farmers
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
    • Soy
      11/64
      • Commitment Strength
        5/42
        • Commodity-specific financing policy
          0/9.6
          • Commitment details
            No
            0/8
            Commitment details
            No
            0/8
            Type of policy: No policy
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must be legally operated
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must protect priority forests or globally important landscapes
          5.4/9.6
          • Commitment details
            Globally important - Required
            4/8
            Commitment details
            Globally important - Required
            4/8
            "In addition, we will not knowingly engage in the following types of activities that, while not illegal, are contrary to our values, operating principles and Code of Conduct: [...] Natural resource extraction in UNESCO World Heritage sites – engaging in transactions focused on natural resource extraction within UNESCO World Heritage sites, unless there is prior consensus between UNESCO and the host country’s governmental authorities that activities will not adversely affect the natural or cultural value of the site”. “If client activity is known or anticipated to directly impact a World Heritage Site, relationship managers are directed to notify SMEs within Bank of America’s ESG Group for further guidance. Review of these situations involves client engagement, a deep review of the client activity, and internal escalation and discussion among senior risk committees.”
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "In addition, we will not knowingly engage in the following types of activities that, while not illegal, are contrary to our values, operating principles and Code of Conduct: [...] Natural resource extraction in UNESCO World Heritage sites – engaging in transactions focused on natural resource extraction within UNESCO World Heritage sites, unless there is prior consensus between UNESCO and the host country’s governmental authorities that activities will not adversely affect the natural or cultural value of the site”. “If client activity is known or anticipated to directly impact a World Heritage Site, relationship managers are directed to notify SMEs within Bank of America’s ESG Group for further guidance. Review of these situations involves client engagement, a deep review of the client activity, and internal escalation and discussion among senior risk committees.”
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "In addition, we will not knowingly engage in the following types of activities that, while not illegal, are contrary to our values, operating principles and Code of Conduct: [...] Natural resource extraction in UNESCO World Heritage sites – engaging in transactions focused on natural resource extraction within UNESCO World Heritage sites, unless there is prior consensus between UNESCO and the host country’s governmental authorities that activities will not adversely affect the natural or cultural value of the site”. “If client activity is known or anticipated to directly impact a World Heritage Site, relationship managers are directed to notify SMEs within Bank of America’s ESG Group for further guidance. Review of these situations involves client engagement, a deep review of the client activity, and internal escalation and discussion among senior risk committees.”
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "In addition, we will not knowingly engage in the following types of activities that, while not illegal, are contrary to our values, operating principles and Code of Conduct: [...] Natural resource extraction in UNESCO World Heritage sites – engaging in transactions focused on natural resource extraction within UNESCO World Heritage sites, unless there is prior consensus between UNESCO and the host country’s governmental authorities that activities will not adversely affect the natural or cultural value of the site”. “If client activity is known or anticipated to directly impact a World Heritage Site, relationship managers are directed to notify SMEs within Bank of America’s ESG Group for further guidance. Review of these situations involves client engagement, a deep review of the client activity, and internal escalation and discussion among senior risk committees.”
          • Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            "In addition, we will not knowingly engage in the following types of activities that, while not illegal, are contrary to our values, operating principles and Code of Conduct: [...] Natural resource extraction in UNESCO World Heritage sites – engaging in transactions focused on natural resource extraction within UNESCO World Heritage sites, unless there is prior consensus between UNESCO and the host country’s governmental authorities that activities will not adversely affect the natural or cultural value of the site”. “If client activity is known or anticipated to directly impact a World Heritage Site, relationship managers are directed to notify SMEs within Bank of America’s ESG Group for further guidance. Review of these situations involves client engagement, a deep review of the client activity, and internal escalation and discussion among senior risk committees.”
        • Assurance mechanism to ensure compliance
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must have a grievance mechanism
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Commitments must be timebound
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
      • Social Considerations
        6/22
        • Company must ensure Free, Prior and Informed Consent
          5.6/5.6
          • Commitment details
            Yes - Require
            4/4
            Commitment details
            Yes - Require
            4/4
            "Bank of America recognizes that Indigenous Peoples, Native, and First Nations Communities have cultural beliefs, values and lands that are often under threat. We conduct enhanced due diligence for transactions in which the majority use of proceeds is attributed to identified activities that may negatively impact an area used by or traditionally claimed by an indigenous community. For these transactions, we expect our clients to demonstrate alignment with the objectives and requirements of the International Finance Corporation (IFC) Performance Standard 7, which addresses impacts to Indigenous Peoples including free, prior and informed consent.”
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "Bank of America recognizes that Indigenous Peoples, Native, and First Nations Communities have cultural beliefs, values and lands that are often under threat. We conduct enhanced due diligence for transactions in which the majority use of proceeds is attributed to identified activities that may negatively impact an area used by or traditionally claimed by an indigenous community. For these transactions, we expect our clients to demonstrate alignment with the objectives and requirements of the International Finance Corporation (IFC) Performance Standard 7, which addresses impacts to Indigenous Peoples including free, prior and informed consent.”
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "Bank of America recognizes that Indigenous Peoples, Native, and First Nations Communities have cultural beliefs, values and lands that are often under threat. We conduct enhanced due diligence for transactions in which the majority use of proceeds is attributed to identified activities that may negatively impact an area used by or traditionally claimed by an indigenous community. For these transactions, we expect our clients to demonstrate alignment with the objectives and requirements of the International Finance Corporation (IFC) Performance Standard 7, which addresses impacts to Indigenous Peoples including free, prior and informed consent.”
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "Bank of America recognizes that Indigenous Peoples, Native, and First Nations Communities have cultural beliefs, values and lands that are often under threat. We conduct enhanced due diligence for transactions in which the majority use of proceeds is attributed to identified activities that may negatively impact an area used by or traditionally claimed by an indigenous community. For these transactions, we expect our clients to demonstrate alignment with the objectives and requirements of the International Finance Corporation (IFC) Performance Standard 7, which addresses impacts to Indigenous Peoples including free, prior and informed consent.”
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "Bank of America recognizes that Indigenous Peoples, Native, and First Nations Communities have cultural beliefs, values and lands that are often under threat. We conduct enhanced due diligence for transactions in which the majority use of proceeds is attributed to identified activities that may negatively impact an area used by or traditionally claimed by an indigenous community. For these transactions, we expect our clients to demonstrate alignment with the objectives and requirements of the International Finance Corporation (IFC) Performance Standard 7, which addresses impacts to Indigenous Peoples including free, prior and informed consent.”
        • Company must respect labour rights
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must address gender equality issues
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must encourage the inclusion of small-scale farmers
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
    • Timber, Pulp & Paper
      33/64
      • Commitment Strength
        28/42
        • Commodity-specific financing policy
          8.9/9.6
          • Commitment details
            Yes
            8/8
            Commitment details
            Yes
            8/8
            Type of policy: Reduce deforestation
            "Bank of America will use due diligence measures to assure that lending proceeds are not used to finance commercial projects oroperations that result in resource extraction from, or the clearing of:I. Primary tropical moist forests;II. Intact forests as defined by the World Resource Institute (WRI);III. Primary forests4 in temperate or boreal forest regions that are not managed using sustainable forestry practices as verified byan independent third party audit; andIV. High conservation value forests unless under approved conservation plans verified by an independent, third party audit withnecessary permits granted by applicable governmental/regulatory authorities."
          • Policy applies to all operations and financing
            No
            0/0.4
            Policy applies to all operations and financing
            No
            0/0.4
            "Bank of America will use due diligence measures to assure that lending proceeds are not used to finance commercial projects oroperations that result in resource extraction from, or the clearing of:I. Primary tropical moist forests;II. Intact forests as defined by the World Resource Institute (WRI);III. Primary forests4 in temperate or boreal forest regions that are not managed using sustainable forestry practices as verified byan independent third party audit; andIV. High conservation value forests unless under approved conservation plans verified by an independent, third party audit withnecessary permits granted by applicable governmental/regulatory authorities."
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "Bank of America will use due diligence measures to assure that lending proceeds are not used to finance commercial projects oroperations that result in resource extraction from, or the clearing of:I. Primary tropical moist forests;II. Intact forests as defined by the World Resource Institute (WRI);III. Primary forests4 in temperate or boreal forest regions that are not managed using sustainable forestry practices as verified byan independent third party audit; andIV. High conservation value forests unless under approved conservation plans verified by an independent, third party audit withnecessary permits granted by applicable governmental/regulatory authorities"
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "Bank of America will use due diligence measures to assure that lending proceeds are not used to finance commercial projects oroperations that result in resource extraction from, or the clearing of:I. Primary tropical moist forests;II. Intact forests as defined by the World Resource Institute (WRI);III. Primary forests4 in temperate or boreal forest regions that are not managed using sustainable forestry practices as verified byan independent third party audit; andIV. High conservation value forests unless under approved conservation plans verified by an independent, third party audit withnecessary permits granted by applicable governmental/regulatory authorities"
          • Policy applies to all stages of the supply chain
            Producers
            0.1/0.4
            Policy applies to all stages of the supply chain
            Producers
            0.1/0.4
            "Bank of America will use due diligence measures to assure that lending proceeds are not used to finance commercial projects oroperations that result in resource extraction from, or the clearing of:I. Primary tropical moist forests;II. Intact forests as defined by the World Resource Institute (WRI);III. Primary forests4 in temperate or boreal forest regions that are not managed using sustainable forestry practices as verified byan independent third party audit; andIV. High conservation value forests unless under approved conservation plans verified by an independent, third party audit withnecessary permits granted by applicable governmental/regulatory authorities"
        • Companies must be legally operated
          5.2/5.6
          • Commitment details
            Entire supply chain - Require
            4/4
            Commitment details
            Entire supply chain - Require
            4/4
            "Bank of America will not finance companies or projects that contravene any relevant binding international environmental agreement to which the member country concerned is a party or that violate local, state or national environmental, labor or social laws." As well as this, "in all cases, the borrower must remain in compliance with applicable laws and regulations governing timber harvesting...C. Bank of America will not finance companies or projects that collude with, or knowingly purchase timber from, illegal logging operations. Due diligence will include company representation as to its practices and monitoring for illegal logging."
          • Policy applies to all operations and financing
            No
            0/0.4
            Policy applies to all operations and financing
            No
            0/0.4
            “Bank of America will not finance companies or projects that contravene any relevant binding international environmental agreement to which the member country concerned is a party or that violate local, state or national environmental, labor or social laws7. Due diligence will include company representation as to its policy and monitoring.”“Bank of America will follow corporate approved due diligence procedures when financing companies involved in the forestry industry.”
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            “Bank of America will not finance companies or projects that contravene any relevant binding international environmental agreement to which the member country concerned is a party or that violate local, state or national environmental, labor or social laws7. Due diligence will include company representation as to its policy and monitoring.”“Bank of America will follow corporate approved due diligence procedures when financing companies involved in the forestry industry.”
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            “Bank of America will not finance companies or projects that contravene any relevant binding international environmental agreement to which the member country concerned is a party or that violate local, state or national environmental, labor or social laws7. Due diligence will include company representation as to its policy and monitoring.”“Bank of America will follow corporate approved due diligence procedures when financing companies involved in the forestry industry.”
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            “Bank of America will not finance companies or projects that contravene any relevant binding international environmental agreement to which the member country concerned is a party or that violate local, state or national environmental, labor or social laws7. Due diligence will include company representation as to its policy and monitoring.”“Bank of America will follow corporate approved due diligence procedures when financing companies involved in the forestry industry.”
        • Companies must protect priority forests or globally important landscapes
          8.9/9.6
          • Commitment details
            All high priority landscapes - Required
            8/8
            Commitment details
            All high priority landscapes - Required
            8/8
            “Bank of America will apply the following elements to all extensions of credit and bond underwriting where proceeds are project specific: A. Bank of America will use due diligence measures to assure that lending proceeds are not used to finance commercial projects or operations that result in resource extraction2 from, or the clearing of: I. Primary tropical moist forests; II. Intact forests as defined by the World Resource Institute (WRI); III. Primary forests4 in temperate or boreal forest regions that are not managed using sustainable forestry practices as verified by an independent third party audit; and IV. High conservation value forests5 unless under approved conservation plans verified by an independent, third party audit with necessary permits granted by applicable governmental/regulatory authorities.” "In addition, we will not knowingly engage in the following types of activities that, while not illegal, are contrary to our values, operating principles and Code of Conduct: [...] Natural resource extraction in UNESCO World Heritage sites – engaging in transactions focused on natural resource extraction within UNESCO World Heritage sites, unless there is prior consensus between UNESCO and the host country’s governmental authorities that activities will not adversely affect the natural or cultural value of the site”. “If client activity is known or anticipated to directly impact a World Heritage Site, relationship managers are directed to notify SMEs within Bank of America’s ESG Group for further guidance. Review of these situations involves client engagement, a deep review of the client activity, and internal escalation and discussion among senior risk committees.”
          • Policy applies to all operations and financing
            No
            0/0.4
            Policy applies to all operations and financing
            No
            0/0.4
            “Bank of America will apply the following elements to all extensions of credit and bond underwriting where proceeds are project specific: A. Bank of America will use due diligence measures to assure that lending proceeds are not used to finance commercial projects or operations that result in resource extraction2 from, or the clearing of: I. Primary tropical moist forests; II. Intact forests as defined by the World Resource Institute (WRI); III. Primary forests4 in temperate or boreal forest regions that are not managed using sustainable forestry practices as verified by an independent third party audit; and IV. High conservation value forests5 unless under approved conservation plans verified by an independent, third party audit with necessary permits granted by applicable governmental/regulatory authorities.” "In addition, we will not knowingly engage in the following types of activities that, while not illegal, are contrary to our values, operating principles and Code of Conduct: [...] Natural resource extraction in UNESCO World Heritage sites – engaging in transactions focused on natural resource extraction within UNESCO World Heritage sites, unless there is prior consensus between UNESCO and the host country’s governmental authorities that activities will not adversely affect the natural or cultural value of the site”. “If client activity is known or anticipated to directly impact a World Heritage Site, relationship managers are directed to notify SMEs within Bank of America’s ESG Group for further guidance. Review of these situations involves client engagement, a deep review of the client activity, and internal escalation and discussion among senior risk committees.”
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            “Bank of America will apply the following elements to all extensions of credit and bond underwriting where proceeds are project specific: A. Bank of America will use due diligence measures to assure that lending proceeds are not used to finance commercial projects or operations that result in resource extraction2 from, or the clearing of: I. Primary tropical moist forests; II. Intact forests as defined by the World Resource Institute (WRI); III. Primary forests4 in temperate or boreal forest regions that are not managed using sustainable forestry practices as verified by an independent third party audit; and IV. High conservation value forests5 unless under approved conservation plans verified by an independent, third party audit with necessary permits granted by applicable governmental/regulatory authorities.” "In addition, we will not knowingly engage in the following types of activities that, while not illegal, are contrary to our values, operating principles and Code of Conduct: [...] Natural resource extraction in UNESCO World Heritage sites – engaging in transactions focused on natural resource extraction within UNESCO World Heritage sites, unless there is prior consensus between UNESCO and the host country’s governmental authorities that activities will not adversely affect the natural or cultural value of the site”. “If client activity is known or anticipated to directly impact a World Heritage Site, relationship managers are directed to notify SMEs within Bank of America’s ESG Group for further guidance. Review of these situations involves client engagement, a deep review of the client activity, and internal escalation and discussion among senior risk committees.”
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            “Bank of America will apply the following elements to all extensions of credit and bond underwriting where proceeds are project specific: A. Bank of America will use due diligence measures to assure that lending proceeds are not used to finance commercial projects or operations that result in resource extraction2 from, or the clearing of: I. Primary tropical moist forests; II. Intact forests as defined by the World Resource Institute (WRI); III. Primary forests4 in temperate or boreal forest regions that are not managed using sustainable forestry practices as verified by an independent third party audit; and IV. High conservation value forests5 unless under approved conservation plans verified by an independent, third party audit with necessary permits granted by applicable governmental/regulatory authorities.” "In addition, we will not knowingly engage in the following types of activities that, while not illegal, are contrary to our values, operating principles and Code of Conduct: [...] Natural resource extraction in UNESCO World Heritage sites – engaging in transactions focused on natural resource extraction within UNESCO World Heritage sites, unless there is prior consensus between UNESCO and the host country’s governmental authorities that activities will not adversely affect the natural or cultural value of the site”. “If client activity is known or anticipated to directly impact a World Heritage Site, relationship managers are directed to notify SMEs within Bank of America’s ESG Group for further guidance. Review of these situations involves client engagement, a deep review of the client activity, and internal escalation and discussion among senior risk committees.”
          • Policy applies to all stages of the supply chain
            Producers
            0.1/0.4
            Policy applies to all stages of the supply chain
            Producers
            0.1/0.4
            “Bank of America will apply the following elements to all extensions of credit and bond underwriting where proceeds are project specific: A. Bank of America will use due diligence measures to assure that lending proceeds are not used to finance commercial projects or operations that result in resource extraction2 from, or the clearing of: I. Primary tropical moist forests; II. Intact forests as defined by the World Resource Institute (WRI); III. Primary forests4 in temperate or boreal forest regions that are not managed using sustainable forestry practices as verified by an independent third party audit; and IV. High conservation value forests5 unless under approved conservation plans verified by an independent, third party audit with necessary permits granted by applicable governmental/regulatory authorities.” "In addition, we will not knowingly engage in the following types of activities that, while not illegal, are contrary to our values, operating principles and Code of Conduct: [...] Natural resource extraction in UNESCO World Heritage sites – engaging in transactions focused on natural resource extraction within UNESCO World Heritage sites, unless there is prior consensus between UNESCO and the host country’s governmental authorities that activities will not adversely affect the natural or cultural value of the site”. “If client activity is known or anticipated to directly impact a World Heritage Site, relationship managers are directed to notify SMEs within Bank of America’s ESG Group for further guidance. Review of these situations involves client engagement, a deep review of the client activity, and internal escalation and discussion among senior risk committees.”
        • Assurance mechanism to ensure compliance
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must have a grievance mechanism
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Commitments must be timebound
          4.9/5.6
          • Commitment details
            Require
            4/4
            Commitment details
            Require
            4/4
            Type of policy: Compliance is prerequisite for financing
            “Bank of America will not finance companies that do not have an explicit policy against the uncontrolled and/or illegal use of fire in their forestry or plantation operations. Due diligence will include company representation as to its policy and monitoring [...] In all cases, the borrower must remain in compliance with applicable laws and regulations governing timber harvesting. B. Given the benefits associated with reforestation of cleared and degraded land, Bank of America will finance tree plantations on previously cleared forest land if the clearing and/or degradation of the land was conducted in accordance with applicable laws and regulations. Exceptions are allowed only after five years have passed and only if no direct link to the original deforestation can be demonstrated.”
          • Policy applies to all operations and financing
            No
            0/0.4
            Policy applies to all operations and financing
            No
            0/0.4
            “Bank of America will not finance companies that do not have an explicit policy against the uncontrolled and/or illegal use of fire in their forestry or plantation operations. Due diligence will include company representation as to its policy and monitoring.”
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            “Bank of America will not finance companies that do not have an explicit policy against the uncontrolled and/or illegal use of fire in their forestry or plantation operations. Due diligence will include company representation as to its policy and monitoring [...] In all cases, the borrower must remain in compliance with applicable laws and regulations governing timber harvesting. B. Given the benefits associated with reforestation of cleared and degraded land, Bank of America will finance tree plantations on previously cleared forest land if the clearing and/or degradation of the land was conducted in accordance with applicable laws and regulations. Exceptions are allowed only after five years have passed and only if no direct link to the original deforestation can be demonstrated.”
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            “Bank of America will not finance companies that do not have an explicit policy against the uncontrolled and/or illegal use of fire in their forestry or plantation operations. Due diligence will include company representation as to its policy and monitoring [...] In all cases, the borrower must remain in compliance with applicable laws and regulations governing timber harvesting. B. Given the benefits associated with reforestation of cleared and degraded land, Bank of America will finance tree plantations on previously cleared forest land if the clearing and/or degradation of the land was conducted in accordance with applicable laws and regulations. Exceptions are allowed only after five years have passed and only if no direct link to the original deforestation can be demonstrated.”
          • Policy applies to all stages of the supply chain
            Producers
            0.1/0.4
            Policy applies to all stages of the supply chain
            Producers
            0.1/0.4
            “Bank of America will not finance companies that do not have an explicit policy against the uncontrolled and/or illegal use of fire in their forestry or plantation operations. Due diligence will include company representation as to its policy and monitoring [...] In all cases, the borrower must remain in compliance with applicable laws and regulations governing timber harvesting. B. Given the benefits associated with reforestation of cleared and degraded land, Bank of America will finance tree plantations on previously cleared forest land if the clearing and/or degradation of the land was conducted in accordance with applicable laws and regulations. Exceptions are allowed only after five years have passed and only if no direct link to the original deforestation can be demonstrated.”
      • Social Considerations
        5/22
        • Company must ensure Free, Prior and Informed Consent
          5.2/5.6
          • Commitment details
            Yes - Require
            4/4
            Commitment details
            Yes - Require
            4/4
            “Indigenous peoples: Bank of America recognizes that Indigenous Peoples, Native, and First Nations Communities have cultural beliefs, values and lands that are often under threat. We conduct enhanced due diligence for transactions in which the majority use of proceeds is attributed to identified activities that may negatively impact an area used by or traditionally claimed by an indigenous community. For these transactions, we expect our clients to demonstrate alignment with the objectives and requirements of the International Finance Corporation (IFC) Performance Standard 7, which addresses impacts to Indigenous Peoples including free, prior and informed consent.”
          • Policy applies to all operations and financing
            No
            0/0.4
            Policy applies to all operations and financing
            No
            0/0.4
            “Indigenous peoples: Bank of America recognizes that Indigenous Peoples, Native, and First Nations Communities have cultural beliefs, values and lands that are often under threat. We conduct enhanced due diligence for transactions in which the majority use of proceeds is attributed to identified activities that may negatively impact an area used by or traditionally claimed by an indigenous community. For these transactions, we expect our clients to demonstrate alignment with the objectives and requirements of the International Finance Corporation (IFC) Performance Standard 7, which addresses impacts to Indigenous Peoples including free, prior and informed consent.”
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            “Indigenous peoples: Bank of America recognizes that Indigenous Peoples, Native, and First Nations Communities have cultural beliefs, values and lands that are often under threat. We conduct enhanced due diligence for transactions in which the majority use of proceeds is attributed to identified activities that may negatively impact an area used by or traditionally claimed by an indigenous community. For these transactions, we expect our clients to demonstrate alignment with the objectives and requirements of the International Finance Corporation (IFC) Performance Standard 7, which addresses impacts to Indigenous Peoples including free, prior and informed consent.”
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            “Indigenous peoples: Bank of America recognizes that Indigenous Peoples, Native, and First Nations Communities have cultural beliefs, values and lands that are often under threat. We conduct enhanced due diligence for transactions in which the majority use of proceeds is attributed to identified activities that may negatively impact an area used by or traditionally claimed by an indigenous community. For these transactions, we expect our clients to demonstrate alignment with the objectives and requirements of the International Finance Corporation (IFC) Performance Standard 7, which addresses impacts to Indigenous Peoples including free, prior and informed consent.”
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            “Indigenous peoples: Bank of America recognizes that Indigenous Peoples, Native, and First Nations Communities have cultural beliefs, values and lands that are often under threat. We conduct enhanced due diligence for transactions in which the majority use of proceeds is attributed to identified activities that may negatively impact an area used by or traditionally claimed by an indigenous community. For these transactions, we expect our clients to demonstrate alignment with the objectives and requirements of the International Finance Corporation (IFC) Performance Standard 7, which addresses impacts to Indigenous Peoples including free, prior and informed consent.”
        • Company must respect labour rights
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must address gender equality issues
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must encourage the inclusion of small-scale farmers
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
  • Reporting & Implementation
    5/20
    • Policy is reviewed and updated
      3/5
      Policy review
      Commit to update policy - Less than annual
      3/5
      "The ESRP Framework is reviewed by the ESG Group at least every two years. If at that time, or any other time in the interim, changes need to be made to the ESRP Framework, they will be reviewed and approved by the ESG and Management Risk Committees and will be reflected, as appropriate, in internal policies and procedure"
    • Companies must disclose subsidiaries in commodity supply chains
      0/5
      Subsidiary disclosure
      No
      0/5
    • Monitoring and non-compliance process
      3/5
      Monitoring compliance
      Yes - General non-compliance statement
      3/5
      "If due diligence reveals that a business activity presents significant environmental and social risk, that activity − including client relationships, transactions, new products or other corporate activities − may be escalated to the appropriate committee responsible for reputational risk management for further evaluation. These committees are comprised of the business heads and senior executives from our Global Risk, Compliance, Legal and ESG groups, and can approve, conditionally approve or decline abusiness activity. If the committee does not approve a business activity, the business head may appeal the matter to the executive management team."
    • Reporting on implementation of the policy
      0/5
  • Commitment strength
    18/42
    Avg. score
  • Social considerations
    6/22
    Avg. score

Profile

Bank of America are a US-based bank serving private and corporate clients. Their services include corporate finance, wealth management, investments and retail banking services. As of 2017, the bank's total assets amount to more than 2 trillion USD, with more than 900 billion USD worth of loans and leases. Bank of America is among the top 5 lenders to Forest 500 companies, with loans amounting to more than 75 billion USD across a broad range of forest risk sectors. They are also among the top 15 shareholders for Forest 500 companies, with more than 28 billion USD worth of shares.

HQ
HQ 
United States
Financial institution type
Financial institution type 
Asset management, Bank

How we assess the Forest 500

Investors and lenders need to adopt and implement strong deforestation policies that ensure their investments are not funding the destruction of forests.

All assessments use policies published on financial institution websites, some links may have changed or been removed since the time of assessment.

Disclaimer

This assessment has been carried out following the methodology developed for the Forest 500 project, available here. Please see our disclaimer applicable to all information contained within this site and our terms and conditions for use of data presented on this site.

All assessments use policies published on company and financial institution websites, and while we endeavor to keep them updated some links may have changed or been removed since the time of assessment.

Please contact us with any concerns or feedback about this or other assessments included in the Forest 500.