As a global financial services institution, our direct environmental impacts stem primarily from the operation of our office buildings, bank branches and data centers. The majority of our buildings are located in the U.S., but we also maintain offices and infrastructure to serve our clients throughout Europe, Latin America, Asia Pacific, the Middle East and Africa.
We Strive to Manage Our Footprint in an Efficient and Sustainable Manner, and Continually Improve Our Performance
We are experimenting with the incorporation of renewable energy and other advanced technology systems at some of our facilities. For example, we have installed solar photovoltaic arrays totaling over 1 megawatt of generating capacity at a number of our data centers and retail bank branches in the U.S. We also support the generation of clean energy by purchasing Renewable Energy Certificates.
We take a range of actions to consume energy as efficiently as possible and reduce greenhouse gas emissions. We met our goal to reduce greenhouse gas emissions by 20 percent below 2005 levels by the end of 2012. We are now working toward a new goal to reduce emissions by 40 percent below our 2005 baseline by the end of 2020. We also purchase verified emission reduction credits to offset annual greenhouse gas emissions from employee air travel.
We use paper across our business for a range of purposes, from internal document printing and copying to customer-facing statements and marketing materials. Our priorities are to maximize the purchase of sustainably certified paper, encourage efficient paper use, and manage effective paper recycling programs.
Our approach to property management at our office buildings, bank branches and data centers is focused on the efficient use of energy, water and materials, and the application of green building practices. In 2011, we completed the renovation of our world headquarters in New York City and achieved LEED Platinum certification from the U.S. Green Building Council. We have also earned the U.S Environmental Protection Agency's Energy Star label for over 4 million square feet of our building portfolio.