#6 Bank of America - Climate Change Policy

At Bank of America, our environmental policies are shaped by our conviction that the health of our company is dependent on the health of communities and our society. Understanding that every part of our business has a potential impact on our environment, we commit to integrating environmental policy into our company's operations at every level.

Bank of America's goal is to be the leading financial services company in this country, and to be recognized as one of the world's great companies. We know that these goals come with a responsibility to serve as a leader on issues of great importance.

- Ken Lewis

Bank of America Chairman and CEO

Scientists have concluded that human activities, primarily from the burning of fossil fuels has an effect on earth's climate due to the resultant "greenhouse effect" from the emissions of carbon dioxide, methane and nitrous oxide. If not checked, climate change and atmospheric pollution could alter the natural, social, and economic systems that support a growing global economy and sustain the quality of life for all of us on earth.

As a corporation, Bank of America has the responsibility to address climate change and the service sector has a role in promoting and implementing reductions of greenhouse gas emissions that extends beyond its own operations, including relationships with customers and suppliers.

We, at Bank of America, recognize that climate change and atmospheric pollution represent a risk to the ultimate stability and sustainability of our way of life. Bank of America is committed to addressing climate change issues even more so today, when we believe we can set real and achievable targets for greenhouse gas reductions in both our operations as well as investment opportunities.

- Anne Finucane, Global Marketing and Corporate Affairs Executive

Chair, Bank of America Environmental Council

Bank of America will take the following actions, recognizing that climate change and atmospheric pollution represent a major risk to the ultimate stability and sustainability of our way of life:

• Assess, set goals and reduce Bank of America's direct effect on greenhouse gases; including benchmarking and reporting on direct emissions of greenhouse gas (GHG) from its operations. Bank of America was the first financial institution to become a partner in the EPA Climate Leaders program and has set a target to reduce our GHG emissions 9% by 2009.
• Assess climate change risk on our business and take necessary action to limit risk and invest in change where appropriate; beginning this process with an assessment and reporting on GHG emissions from the energy & utilities portfolio. The goal is to realize a 7% reduction in indirect emissions in accordance with the Intergovernmental Panel on Climate Change targets within our energy & utility portfolio. Also, Bank of America will commission an independent research paper through one of our environmental alliances using industry expertise to evaluate the level of financial sector risk through the finance of GHG emission intensive industries. Through this research and independent efforts, the bank will continue to evaluate methods of reducing GHG emissions in Bank of America's chain of activities including investment in renewable energy and energy efficiency.
• Maximize investment return through energy and resource efficiency.
• Share our position and build partnerships to work on solutions with customers, government and other stakeholders.
• Utilize Bank of America's position as a community and industry leader to serve as an agent of change in elevating the public and private sector's commitment and approach to addressing climate change.
• Take advantage of market-based environmentally beneficial business opportunities.
• Inform our associates and provide information for how they can take action at work and in their personal lives.

Report on goals, actions and progress, and continue to monitor the issue and as needed make adjustments to our position and actions.