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An Initiative That Doesn't Demand Too Much Energy

Bank of America has committed to invest $100 million in energy reduction projects for use in all company facilities. We've also set a 2009 goal to reduce our own energy usage by nine percent. The bank's Corporate Workplace Portfolio Energy team plays a key role in managing and measuring our progress against those objectives.

In 2008, the team achieved $8.5 million in savings and installed more than $7 million in energy efficiency projects. In 2009, the team plans to retrofit 1,300 banking centers to incorporate some of the most advanced lighting technologies available. Other projects in the works include heating and cooling system upgrades, improved lighting controls, systems to turn off unused computers and tune-up programs to ensure equipment is running at peak efficiency. Looking further ahead, the bank is also investigating and testing advanced light-dimming systems, LED lighting, advanced temperature control algorithms and new renewable technologies.

In addition, our Corporate Workplace Intelligent Command Control Center enables the centralized monitoring and control of energy usage in buildings throughout our portfolio. Dubbed "iC3," the center is designed to reduce greenhouse gas emissions three percent, or 39,000 tons of carbon equivalents.

Other initiatives are helping us to meet our goals. For example, Bank of America is installing energy-management software in 3,300 banking centers across the U.S. The system, from Field Diagnostic Services, Inc., is expected to save up to 50 percent in costs and an estimated 14,000 tons of greenhouse gas emissions each year. Another example is the Bank of America Tower at One Bryant Park in New York, which is expected to reduce energy consumption by 50 percent, with a cogeneration system producing approximately 70 percent of the tower's annual energy needs.