Ceres
Ceres is a national network of investors, environmental organizations and other public interest groups working with companies and investors to address sustainability challenges such as global climate change.
Bank of America began its relationship with Ceres in 1996 when it adopted the Ceres Principles, a ten-point code of corporate environmental conduct that commits to an ongoing process of continuous improvement, dialogue and comprehensive, systematic public reporting.
We have worked with Ceres on a number of initiatives including forestry and energy, energy efficiency and climate change. We have also participated as guest speakers at the annual Ceres annual conference and the Ceres-convened Investor Network on Climate Risk.
In 2004, Ceres provided a supporting role in the formulation of our revised Forests Policy and our commitment to reduce the greenhouse gas emissions intensity of our energy utility portfolio. We are currently working with Ceres on the promotion of energy efficiency, and, in the fall of 2007, we provided a $1 million grant to Ceres and the United Nations Foundation to establish a National Task Force on Energy Efficiency. The task force seeks to double the rate of energy efficiency improvement in the United States by 2012.
Quick Facts
- Ceres launched the Global Reporting Initiative (GRI), now the de facto international standard for corporate reporting on environmental, social and economic performance. Bank of America uses the GRI as a framework for its sustainability reporting
- Ceres was formed in 1989, and its 10-point code of conduct was first known as the Valdez Principles, a name adopted from the oil spill that occurred that same year
- Ceres was an important stakeholder involved in the launch of the bank's $20 billion initiative focused on addressing climate change
