2021 TxN 20 Honoree: Bank of America + Industry Highlights

We are excited to bring you the Texan by Nature 20 (TxN 20) for its third year! The TxN 20 is an effort to recognize the best work in conservation coming from businesses operating and based in Texas. It’s an opportunity to showcase innovation, commitment, and best practices from a variety of industries.

To select the 2021 TxN 20, the TxN Team evaluated submissions as well as conducted independent research across 2,000+ of Texas’ publicly traded and private companies within 12 industry sectors. All companies were evaluated on a 17-point scoring system to narrow down the list of the top 60 companies in Texas. A selection committee of top industry leaders was formed to evaluate the top 60 companies and select the final honorees for the TxN 20.

If Texas were an independent nation, it would have the 10th largest GDP on earth. Within this booming economy, the financial services industry takes many forms including banking, insurance, credit, lending, and real estate. An estimated 36 financial services companies from 13 countries either established or expanded operations in Texas between 2009 and 2014. Financial service leaders are dealing with more than just capital; they are actively involved in conservation, from issuing corporate green bonds to supporting the communities they operate in through volunteer efforts to sourcing renewable energy, the financial industry is banking on the environment.

Learn more about the 2021 TxN 20 honoree from the financial services industry and see a list of industry highlights.

2021 Honoree: Bank of America

TxN Honoree, Bank of America is a multinational investment bank and financial services firm. They prioritize energy conservation and promote renewable energy through investments and their projects. Bank of America’s Environmental Business Initiative will deploy and mobilize $1 trillion by 2030 to accelerate the transition to a low-carbon, sustainable economy, as part of a broader $1.5 trillion sustainable finance goal aligned to addressing the United Nations’ Sustainable Development Goals. They are also making their operations more sustainable — including achieving carbon neutrality and procuring 100% renewable electricity in 2019, a year ahead of schedule. In 2020, Bank of America announced their first 10-year structured renewable energy agreement for solar power in Texas.

Read the full honoree Q&A write-ups and read the 2021 press release

Industry Highlights

In addition to this year’s TxN 20 honorees, learn more about best practices in conservation and sustainability coming from companies across the financial services industry.

  • Citi, prioritizes water conservation by creating their own in-facility water recapture systems in areas where there is a lack of recycled water sources. Citi also provided bonds used to provide clean water to Illinois residents by financing wastewater treatment and sanitary sewage facilities in Illinois. The water reuse systems in their São Paulo facility save approximately 5,700 cubic meters of water every year. Citi was a 2020 TxN 20 honoree.
  • Frost Bank has multiple initiatives that prioritize conservation. In 2020, they recycled more than 550,000 pounds of paper, saving over 4,500 trees. Additionally, Frost Bank participated in Lights Out Texas,  by turning off their lights during peak bird migration season. Frost Tower in downtown Fort Worth is situated near the center of the flyway for many birds’ migration patterns, so their participation in this state-wide campaign was critical for the protection of migratory birds.
  • In 2019 American Express donated over $2.8 million to invest in environmental causes through grants, gift-matching, and Serve2Gether grant programs. Part of this included financial support for the Ocean Conservancy and National Geographic Society through grants to mitigate marine plastic pollution. Their support allowed 1.5+ million people to volunteer in clean ups, increasing engagement and promoting the importance of marine health to local communities. 
  • Wells Fargo invests in sustainable energy with the goal of meeting 100 percent of their global electricity needs with renewable energy. In order to meet this goal, they provided $1.15 million for new wind, solar, and fuel cell projects which created 2,600+ megawatts of renewable energy. Wells Fargo also supported the Minnesota Community Solar Garden program representing 18,000 megawatt hours (MWh) annually of net new capacity to the grid.
  • Edward Jones promotes green buildings by incorporating designs that save energy, divert waste, and using durable, natural, and recyclable materials such as zinc, stone, terra cotta and others. Additionally, they make conscious efforts to conserve energy throughout their buildings by using motion-sensor lighting, fine-tuning HVAC systems, minimizing overnight and decorative lighting, and more.