Wells Fargo Commits to Largest-Ever U.S. Corporate Purchase of Renewable Energy

October 3, 2006

Email this story Print this post Add your comments

Wells Fargo will buy renewable energy certificates to support generating 550 million kilowatt-hours of wind energy a year for three years, making Wells Fargo the largest corporate purchaser of renewable energy in the U.S.

The purchase will offset 40 percent of Wells Fargo’s electricity consumption with 100 percent wind energy. It will prevent the emission of 380,000 tons of carbon dioxide each year, the equivalent of reducing the CO2 emissions of 75,000 cars annually or by reducing the equivalent CO2 emissions associated with 40,000,000 gallons of gasoline each year.

“Wells Fargo is a leading example of how corporate America can reduce greenhouse gas emissions associated with electricity use,” said Kathleen Hogan, Director of the Climate Protection Partnership Division for the U.S. Environmental Protection Agency. “Wells Fargo is now the top corporate purchaser among EPA’s Green Power Partners to purchase clean, renewable energy. EPA applauds Wells Fargo for its purchase and hopes other U.S. corporations follow their lead.”

Wells Fargo recently invested in a Texas-based wind farm and has provided $720 million in financing to develop Leadership in Energy Efficiency and Design certified buildings. The company implements energy efficiency measures in its existing and new buildings. For example, replacing cooling equipment at Wells Fargo Plaza in Phoenix with high-efficiency equipment reduced the building’s energy consumption by nearly 30 percent. Two Wells Fargo buildings in San Francisco have been designated as ENERGY STAR buildings (among the top 10 percent of energy-efficient buildings in the country.) In California, Wells Fargo has been recognized for its 20 percent reduction in energy use at its administrative buildings, a reduction it has sustained since 2001.

Wells Fargo’s RECs are supplied by 3 Phases Energy, a national renewable energy marketing and development company.

Email this story Print this post Add your comments

Advertisers

Enhance Sustainability. Improve Profitability.

Learn how at the SAP Sustainability Resource Center. >>

Unclear about the EPA's new GHG Rule?

Learn how it could affect your business. >>

EPA mandatory emissions reporting starts Jan 1st

CSA Standards can help your organization get ready for compliance. Find out how. >>

Best Practices: Product Environmental Compliance

How to achieve compliance at a significantly lower cost. Download the full report. >>

Join the Discussion

Recent Daily News [ see all ]

11/20/2009
11/19/2009
11/18/2009

Charts [ see all ]

European Paper Industry Cuts CO2 Emissions by 42% since 1990

S. America Takes Most Urgent View of Copenhagen Talks

Nike Tops Annual Climate Action Scores

Oceans May Trap more Carbon than Forests

Jobs

View All Jobs >> Post a Job >>

Comments and Discussions

Trade Association on Trade Group on EPA Chemical Regs: ‘If Everything is a Priority, Then Nothing is a Priority’
"Seriously… that..."

Gary Markowitz on Supermarkets Tackle Emissions Reductions, Fuel Efficiency
"Supermarkets waste over 10 percent of their energy through improper..."

peter in ireland on Ontario May Follow California’s Lead on TV Energy Efficiency
"Governor Schwarzenegger is shooting himself in the foot! 1...."

Environmental Leader on S. America Takes Most Urgent View of Copenhagen Talks
"The survey respondents (the PDF report mentions 4,000 respondents in 38..."

Jake on UPS Trying New Hydraulic Hybrid Trucks
"A point of clarification: the Reuters press release referenced herein reports that 20 UPS will purchase..."

Custom Organic Shirts on S. America Takes Most Urgent View of Copenhagen Talks
"90% of North Americans believe it is urgent to get a global climate..."

peter dublin on California City’s Green Building Ordinance Applies to Commercial Buildings
"Why energy efficiebnt regulation on buildings –..."

Environmental Leader