Another Environment Initiative

On March 6th 2007, Bank of America announced an impressive $20 billion ten year environment initiative. Listed below are some of my favorites as part of the initiative.

• EPA Smart Way Transport Program: Under a partnership between the Environmental Protection Agency and the freight industry, the bank provides Small Business Administration (SBA) Express loans with no collateral and flexible terms to small and mid-sized trucking companies to finance fuel efficient technologies. The loan program helps trucking companies purchase Smart Way Upgrade Kits that include idle-reduction devices, low-rolling resistance tires, aerodynamic equipment and exhaust after-treatment devices. The kits can improve fuel efficiency by 15 percent·
• The Green Mortgage Program: Homebuyers will receive a reduced interest rate or $1,000 back for each home-purchase mortgage meeting ENERGY STAR specifications·
• Aggressive, voluntary goals to reduce greenhouse gas emissions across the company nine percent by 2009 and seven percent in our energy and utility portfolio by 2008·
• Active program to reduce paper usage throughout company operations; from 2000-2006, the company reduced paper usage per associate by 40 percent

I really like the Smart Way Transport Program for its collaboration with Small Business Administration. Who better to drive clean energy initiatives than small business enterprises? The voluntary goals to reduce paper usage and reduce greenhouse gas emissions are important to increase Bank of America’s credibility and create an institution wide awareness, commitment and indoctrination towards the environment.