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Dec 06 2008

Corporate Responsibility: BoA Gets It Right

Sometimes, just sometimes, corporations do things that make me proud:

This summer, after months of conversations, some top executives from Bank of America agreed to accompany NRDC staff on a fact-finding trip to Appalachia. In July we flew them over moonscaped mine sites in West Virginia, took them to Kayford Mountain for a closer look at mountaintop mining, and introduced them to several local residents/activists who are fighting to save their beloved homeland from reckless coal mining companies.

Today, BofA released its revised coal policy, which will have the immediate effect of curtailing commercial lending to companies that mine coal by blowing off the top of mountains in Appalachia. The policy states, in part:

Bank of America is particularly concerned about surface mining conducted through mountain top removal in locations such as central Appalachia. We therefore will phase out financing of companies whose predominant method of extracting coal is through mountain top removal. While we acknowledge that surface mining is economically efficient and creates jobs, it can be conducted in a way that minimizes environmental impacts in certain geographies.

Why is this so important? Bank of America still stands as a pillar of our country’s shaky financial system. In fact, the trying economic crisis has only served to strengthen this behemoth bank unlike other once proud and stable institutions. All the more reason to engage BofA in using its investment power and influence to affect positive environmental change.

There are some corporations that realize you can run a successful company without being a total ratfucking bastard, who don’t believe that “good corporate citizen” is just a useful lie to tell the citizens you hope to suckerpunch. I saw that in action with Target, which does more charity work than I’ve ever seen another company do and also runs a forensics lab that helps out police agencies without charge:


Turns out Target has one of the most advanced crime labs in the country at its headquarters in Minneapolis, Minnesota. It was initially set up to deal with things like theft, fraud, and personal injury cases in their stores. Now, Target also helps law enforcement agencies nationwide solve crimes, even murders. Target has worked with the Secret Service, the ATF, and the FBI, to name a few.

Target does the work for free, seeing it as a kind of community service. It doesn’t advertise its crime lab services, but word started spreading and law enforcement agencies started asking for help. Some government agency labs aren’t as well-equipped as Target’s. In other cases, Target can get results faster because of logjams in agency labs.

I’ve seen the pictures. The place is straight out of CSI, and if it wasn’t in a frozen, landlocked city like Minneapolis, I would’ve been getting my forensics degree and joining the lab. It was pure awesome. They also had safe communities programs running that had an enormous impact in some dangerous areas. I’ve had jobs I enjoyed more – taking phone calls from angry credit card customers isn’t fun no matter how great your company is – but I’ve never been prouder of the company I worked for than I was with them. They truly did put a huge effort into making a positive difference.

I’d love to see more of this. Most corporations do just enough community service to make themselves look nice, but it’s the rare few that actually devote substantial time, resources, and attention to doing right by the world.

Bank of America looks to be on its way to true good corporate citizenship. It’s much appreciated. Here’s hoping others will follow these companies’ leads.

1 comment

  1. 1
    Cujo359

    Out here in the Pacific NW, Starbucks has tried to be good corporate citizens, even though their coffee shops were spreading like weeds until recently. I also got a kick out of how Jared Diamond praised Chevron’s environmental policies in Collapse, not so much because I thought it was silly, but because sometimes the truth really is complicated and often counterintuitive.

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