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Wednesday, June 07, 2006

Bank of America pilots hybrids

Today Greener learned through our associate in Charlotte that as part of a pilot test, Bank of America will initiate a program to reimburse $3,000 to associates purchasing a hybrid vehicle. The pilot program will be available to more than 21,000 associates living within 90 miles of 3 test markets: Boston, Charlotte, and Los Angeles.

"Given the size of our commuting associate base, the hybrid program expands our commitment to the environment and helps our associates to participate in making a difference while cutting down on their commuting costs," said Anne Finucane, Bank of America Global Marketing & Corporate Affairs executive and head of the company's environmental council. "We are pleased to be one of the first corporations offering this benefit and strengthening our long-standing leadership on environmental issues."

The company plans to evaluate this pilot program, factoring in employee participation levels and demand to assess how it might be rolled out to the full associate base.

The pilot mirrors the Internal Revenue Service's hybrid vehicle tax credit program and will apply toward a hybrid vehicle as defined by the IRS. All full-time and part-time associates working at least 20 hours a week in the three pilot cities are eligible.

by Haralan Weikle
Greener Magazine

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