Bank of America Ranked First Among Financial Institutions

Bank of America is the top-ranked global financial services company, and is ranked fourth in all areas in the Carbon Disclosure Project recently published (CDP)-Global-500. The ranking is based on the combined effect of two Carbon Disclosure Leadership Index (CDLI) and the Carbon Leadership Index is based Performance (FPIC) notes.  

 

Overall rating of the report, as the 500 largest companies in the world to disclose their emissions of greenhouse gases that build climate change strategies, targets for the reduction and improvements in performance. In the report, the Bank of America, 97 points out of 100 possible points in the Carbon Disclosure Leadership Index for the disclosure process and attained the rank as efficiently as possible in the FPIC.  

 

"We are delighted with this recognition of the CDP, which shows how far we as a society to come. Bank of America was and is a lot of discipline in our control, efficiency and performance to introduce disclosure," says Global Technology and Operations Executive and the Bank of America on the Environment Chairman Catherine P. Bessant. "Find as we move forward, our challenge to continue to develop innovative ways to deliver on the ambitious goals we have established and to help our customers, appear many of whom in these reports, do the same."  

 

Apart from the world rankings, the CDP separate Bank of America first ranked among financial services companies and second among all large U.S. companies in the Carbon Disclosure Leadership Index, and FPIC in its S & P 500 report released yesterday in New York. 

 

CDP is supported by 551 investors with assets of 71 billion dollars, and it plays an important role in encouraging companies to measure and manage their carbon emissions directly and indirectly, and broader ecological footprint and the development of the commitment of supply chain to support development.  

 

Bank of America was one of the leading global financial institutions of greenhouse gases (GHG) emissions reduction targets in 2004 to make. In May 2011, the company announced a new goal that is achievable on the road to a comprehensive reduction of global greenhouse gas emissions by over 30 percent in 2015. This figure is achieved from the reduction 18 percent between 2004 and 2009, and the new goal of reducing emissions by 15 percent in 2015, based on a 2010 baseline. Bank of America CSR Report 2010 "contains detailed information about the company business' social responsibility activities, including data on their environmental activities.

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Prime Minister George Papandreou’s government will hold another conference call today

Greece said Finance Minister Evangelos Venizelos held “productive” discussions with European officials yesterday on the country’s bailout. Prime Minister George Papandreou’s government will hold another conference call today as European leaders debate the terms of a July agreement and the prospect of their being forced to send more money to keep Greece in the currency union.

Treasury 10-year yields were within 10 basis points of their all-time low of 1.8770 percent set last week as economists said the Fed will announce plans to buy longer-maturity debt at a two-day policy meeting that starts today.

The Federal Open Market Committee will decide to replace short-maturity Treasuries in its portfolio with longer-term bonds, according to 71 percent of 42 economists surveyed by Bloomberg. The move is known as Operation Twist for its goal of bending the yield curve.

“Operation Twist will be something that will lower longer-dated rates,” said Orlando Green, a fixed-income strategist at Credit Agricole SA in London. “It could boost equities or boost sentiment and re-inflate asset prices. That’s the desire. Whether it will do this is certainly debatable.”

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Global Stocks Rose Today as Greece will Hold a Call With its Main Creditors

Global stocks rose today as Greece will hold a call with its main creditors after “substantive” discussions about obtaining a sixth installment of aid, the Athens-based finance ministry said. Italy’s credit rating was cut by S&P, the country’s first downgrade in five years, as Greece’s worsening fiscal crisis fans concern that contagion will engulf countries such as Spain and Italy.

Federal Reserve officials might propose new measures to galvanize the economy when the Fed Open Market Committee completes a two-day meeting tomorrow. Ben S. Bernanke, the central bank’s chairman, told economists Sept. 9 in Minneapolis that policy makers have measures at hand and are “prepared to employ these tools as appropriate.”

One of those untested policy tools is likely to be a move known as “Operation Twist,” in which the Fed would replace short-term Treasuries in its $1.65 trillion portfolio with long- term bonds, according to 71 percent of 42 surveyed economists. The move, with its goal to bend the yield curve, will probably fail to reduce the 9.1 percent unemployment rate, 61 percent of the economists said.

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U.S. Stocks Rose Today

Today's, U.S. stocks rose, erasing yesterday’s drop for the Standard & Poor’s 500 Index, amid speculation the Federal Reserve will act to stimulate growth and Greece may satisfy requirements for international aid.

PulteGroup Inc., the largest U.S. homebuilder by revenue, and Travelers Cos., the lone insurer in the Dow Jones Industrial Average, added at least 2.8 percent after analysts raised their recommendations. Apple Inc. (AAPL), the world’s most valuable technology company, jumped 2.5 percent, rising for a seventh straight day to a record.

The S&P 500 gained 1.1 percent to 1,217.61 at 11:43 a.m. New York time, the highest level since Aug. 31 on a closing basis. Stocks swung between gains and losses earlier as the International Monetary Fund cut its forecast for global growth. The Dow climbed 111.64 points, or 1 percent, to 11,512.65.

Stocks retreated yesterday amid concern Greece will fail to qualify for more financial aid needed to avoid a debt default. Between April 29 and Aug. 8, the S&P 500 lost as much as 18 percent as investors speculated Europe’s crisis would threaten the global economy. Since then, the index has rebounded 7.6 percent through yesterday.

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