BANK OF AMERICA CORPORATION | Disclose clean energy financing ratio & methodology at Bank of America Corporation

Status
AGM passed
AGM date
Previous AGM date
Proposal number
7
Resolution details
Company ticker
BAC
Lead filer
New York City Office of the Comptroller
Resolution ask
Report on or disclose
ESG theme
  • Environment
ESG sub-theme
  • Fossil fuel financing
  • Net Zero / Paris aligned
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Financials
Company HQ country
United States
Resolved clause
Resolved: Shareholders request that Bank of America disclose annually its Clean Energy Supply Financing Ratio (“Ratio”),
defined as its total financing through equity and debt underwriting, and project finance, in low-carbon energy supply as a
proportion of that in fossil-fuel energy supply. The disclosure, prepared at reasonable expense and excluding confidential
information, shall describe the Company’s methodology, including what it classifies as “low carbon” or “fossil fuel.”
Supporting statement
▪ Set timebound ratio targets aligned with its net zero commitments
▪ Consult BloombergNEF’s (BNEF) “Financing the Transition: Energy Supply Investment and Bank Financing Activity”1
report
when setting Ratio targets and defining “low carbon” and “fossil fuel” financing
▪ Work to establish standardized industrywide methodologies
▪ Address/Include lending

How other organisations have declared their voting intentions

Organisation name Declared voting intentions Rationale
British Columbia Investment Management Corporation For
VidaCaixa For
Legal & General Investment Management (Holdings) For A detailed explanation for our vote intention can be found on the LGIM Blog: https://blog.lgim.com/categories/esg-and-long-term-themes/lgims-voting-intentions-for-2024/

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