BofA Expands Hybrid Allowance to All U.S. Employees

February 2, 2007

Email this story Print this post Add your comments

Bank of America is expanding its program to reimburse $3,000 to employees purchasing a new hybrid vehicle to more than 185,000 U.S.-based associates. Last June, the company introduced the program to associates living within 90 miles of Boston, Charlotte, and Los Angeles.

All full-time and part- time, U.S.-based associates working at least 20 hours per week are eligible.

If all Bank of America workers took advantage of the offer, which the company doesn’t anticipate, it would cost the firm more than $500 million, The Arizonia Republic reports.

“Since we launched the program and within the three cities where it was piloted, hybrid vehicle purchases by our associates have more than quadrupled,” said Anne Finucane, Bank of America chief marketing officer and head of the company’s environmental council.

Earlier this year, Swiss Re announced a program to reimburse employees for purchases made that contribute to reducing CO2 emissions.

In December, Clif Bar launched a Cool Commute program for employees that pays cash to those who purchase clean-burning biodiesel cars.

Bank of America will continue to evaluate the program, assessing how it could be rolled out to associates outside of the U.S.

BofA also is striving to cut its greenhouse-gas emissions, lower its energy use and increase paper recycling.

It claims to pursue environmentally friendly lending practices and paper-procurement policies that protect endangered forests, according to the article. In addition, Bank of America is building a Manhattan high-rise that it says will be the world’s most environmentally sound office tower.

Email this story Print this post Add your comments

Advertisers

Enhance Sustainability. Improve Profitability.

Learn how at the SAP Sustainability Resource Center. >>

Unclear about the EPA's new GHG Rule?

Learn how it could affect your business. >>

EPA mandatory emissions reporting starts Jan 1st

CSA Standards can help your organization get ready for compliance. Find out how. >>

Best Practices: Product Environmental Compliance

How to achieve compliance at a significantly lower cost. Download the full report. >>

Join the Discussion

Recent Daily News [ see all ]

11/20/2009
11/19/2009
11/18/2009

Charts [ see all ]

European Paper Industry Cuts CO2 Emissions by 42% since 1990

S. America Takes Most Urgent View of Copenhagen Talks

Nike Tops Annual Climate Action Scores

Oceans May Trap more Carbon than Forests

Jobs

View All Jobs >> Post a Job >>

Comments and Discussions

Trade Association on Trade Group on EPA Chemical Regs: ‘If Everything is a Priority, Then Nothing is a Priority’
"Seriously… that..."

Gary Markowitz on Supermarkets Tackle Emissions Reductions, Fuel Efficiency
"Supermarkets waste over 10 percent of their energy through improper..."

peter in ireland on Ontario May Follow California’s Lead on TV Energy Efficiency
"Governor Schwarzenegger is shooting himself in the foot! 1...."

Environmental Leader on S. America Takes Most Urgent View of Copenhagen Talks
"The survey respondents (the PDF report mentions 4,000 respondents in 38..."

Jake on UPS Trying New Hydraulic Hybrid Trucks
"A point of clarification: the Reuters press release referenced herein reports that 20 UPS will purchase..."

Custom Organic Shirts on S. America Takes Most Urgent View of Copenhagen Talks
"90% of North Americans believe it is urgent to get a global climate..."

peter dublin on California City’s Green Building Ordinance Applies to Commercial Buildings
"Why energy efficiebnt regulation on buildings –..."

Environmental Leader