On Wednesday, Shares of Bank of America Corporation (NYSE:BAC), lost -1.02% to $17.49.
Through its annual Corporate Social Responsibility (CSR) Report released recently, Bank of America Corporation, shares successes and challenges of fulfilling its purpose of making financial lives better for customers, clients and communities through the power of every connection. The report comprises details on how CSR is integrated into Bank of America’s business – its policies, practices, services, products and employee benefits.
In Bank of America’s efforts to deliver on its purpose for customers and clients and assist build thriving communities around the world, the company has:
- Established a Global Corporate Social Responsibility Committee that regularly reports to the Corporate Governance Committee of our board of directors.
- Demonstrated environmentally responsible investing by making one of the largest commitments to address climate change in the banking industry – $70 billion dollars, counting a $10 billion Catalytic Finance Initiative to accelerate clean energy investments in low-carbon economies in emerging countries.
- Partnered with other financial institutions to co-author the Green Bond Principles to provide guidance on the issuance process for green bonds, and launched the Bank of America Merrill Lynch Green Bond Index. Bank of America was the No. 1 underwriter of green bond issuances last year, assisting to triple the green bond investment volume from 2013 to 2014.
- Simplified products and services and launched SafeBalance Banking®, a low-fee account alternative that eliminates overdrafts by only permitting transactions to be approved when the customer has enough money in the account to fund them.
- Expanded Better Money Habits through an innovative online financial literacy platform to provide accessible financial education options and assist individuals make more informed financial decisions.
- Supported small businesses by committing $175 million in loans over three years in partnership with the U.S. Small Business Administration and select community development financial institutions. Bank of America also offered $10.3 billion in new credit to small business customers, giving entrepreneurs and innovators new opportunities to boost the economy.
- Contributed $200 million to address pressing global and local community needs through the Bank of America Charitable Foundation, counting philanthropic investments to more than 3,000 nonprofits. In addition to addressing immediate needs such as hunger relief and workforce training, the Foundation invests in longer-term solutions by educating nonprofit leaders and their organizations’ beneficiaries about better money habits.
- Engaged employees to contribute 2 million volunteer hours by connecting them to meaningful issues in cities and regions around the world, enabling them to be a part of the solution, counting the company’s first global, multicity build with Habitat for Humanity.
The CSR Report is structured to follow and respond to the Global Reporting Initiative (GRI) G3.1 framework and GRI’s Financial Services Sector Supplement, the industry standard by which CSR efforts are evaluated and measured.
Bank of America Corporation, through its auxiliaries, provides banking and financial products and services for individual consumers, small and middle market businesses, institutional investors, large corporations, and governments worldwide. The company operates through Consumer & Business Banking; Consumer Real Estate Services; Global Wealth & Investment Administration; Global Banking; Global Markets; and Legacy Assets & Servicing segments.
Shares of Denbury Resources Inc. (NYSE:DNR), inclined 0.31% to $6.56, during its last trading session, amid as some energy and related stocks slump due to the retreat in oil prices.
Oil prices declined Wednesday after data showed that crude-oil supplies shrank last week but inventories of refined products rose.
Light, sweet crude for August delivery settled down 74 cents, or 1.2%, to $60.27 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, fell 96 cents, or 1.5%, to $63.49 a barrel on ICE Futures Europe, according to WSJ.
U.S. oil prices have gained 13% this year on expectations that the global glut of crude oil is due to shrink. WSJ Reports.
Denbury Resources Inc. operates as an independent oil and natural gas company in the United States. The company primarily focuses on improved oil recovery utilizing carbon dioxide. It holds properties located in Mississippi, Texas, Louisiana, and Alabama in the Gulf Coast region; and in Montana, North Dakota, and Wyoming in the Rocky Mountain region.
Finally, Halcón Resources Corporation (NYSE:HK), ended its last trade with -3.03% loss, and closed at $1.28, as oil prices fell as a result of larger than predictable U.S. gasoline stockpiles.
WTI crude oil for August delivery was down 1.4% to $60.15 a barrel Wednesday afternoon and Brent crude oil for August delivery was down 1.7% to $63.35 a barrel.
On Wednesday, the U.S. Energy Information Administration said that inventories fell by 4.9 million barrels in the week ending June 19. The decline was the eighth straight registered in as many weeks, and came in well above the predictable draw of 1.7 million barrels, according to an average of nine analyst estimates compiled by Bloomberg.
Halcón’s stock gained Tuesday, after Standards & Poor upgraded its corporate credit rating for the oil company.
S&P upgrades Halcon Resources’ credit rating to B- from SD (selective default) on Tuesday. The firm said the oil company is unlikely to enter into more debt-for-equity transactions which could be seen as distressed exchanges.
S&P’s outlook for Halcon Resources remain negative due to its view that the company’s leverage could deteriorate beyond current expectation and approach unsustainable levels.
Halcón Resources Corporation, an independent energy company, is engaged in the acquisition, production, exploration, and development of onshore oil and natural gas properties in the United States. The company primarily holds interests the Bakken/Three Forks Formations comprising about 129,000 net acres of area in North Dakota; and East Texas Eagle Ford Formations covering about 101,000 acres of area in Brazos, Burleson, and Robertson counties.
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