Bank of America embraces the Forum’s metrics to streamline its ESG reporting

Bank of America has adopted the World Economic Forum's Stakeholder Capitalism Metrics (SCM) to create a 'backbone' for its ESG disclosures, moving away from standalone sustainability reports toward consolidated annual reporting. The bank used the SCM to identify gaps in its human capital reporting—specifically regarding employee training and turnover—and to foster closer integration between its ESG, finance, and accounting functions. To govern this process, the bank established an executive ESG disclosure committee co-chaired by the chief accounting officer and the head of ESG. Bank of America advocates for the SCM as a foundation for both experienced and novice ESG reporters due to its industry-agnostic nature and alignment with the Sustainable Development Goals (SDGs).

• Bank of America has integrated the full set of core Stakeholder Capitalism Metrics (SCM) into its mainstream annual reports for the fiscal years 2020–21 and 2021–22.
• The bank used the SCM to enhance its human capital disclosures, specifically adding metrics on employee turnover and training categorized by region, age group, gender, and employee category.
• While climate-related reporting is becoming more standardized (e.g., Scope 1, 2, and 3 emissions), the bank notes that human capital reporting still suffers from significant interpretation and variation.
• To ensure discipline and control in non-financial reporting, the bank created an executive ESG disclosure committee co-chaired by the head of ESG and the chief accounting officer (CAO).
• The adoption of SCMs served as the catalyst for the bank to consolidate its financial and non-financial disclosures into a single reporting body, reducing the reliance on separate, lengthy sustainability reports.
• Bank of America utilizes the SCM framework to assist its clients in developing net-zero plans and determining appropriate disclosure metrics.
• The bank recommends that experienced ESG reporters use the SCM as a foundational layer upon which they can add industry-specific metrics.

APA

World Economic Forum (2022). Bank of America embraces the Forum’s metrics to streamline its ESG reporting. https://www3.weforum.org/docs/WEF_SCM_BankofAmerica_May_2022.pdf

Chicago

World Economic Forum. Bank of America embraces the Forum’s metrics to streamline its ESG reporting. 2022. https://www3.weforum.org/docs/WEF_SCM_BankofAmerica_May_2022.pdf.

Wikipedia

{{cite report |author=World Economic Forum |title=Bank of America embraces the Forum’s metrics to streamline its ESG reporting |date=May 2022 |url=https://www3.weforum.org/docs/WEF_SCM_BankofAmerica_May_2022.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{worldeconomicforum2022bank, author = {{World Economic Forum}}, title = {{Bank of America embraces the Forum’s metrics to streamline its ESG reporting}}, institution = {World Economic Forum}, year = {2022}, month = may, url = {https://www3.weforum.org/docs/WEF_SCM_BankofAmerica_May_2022.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }