November 12, 2008
Wells Fargo Surpasses $2 Billion In LEED Building Financing
Wells Fargo has surpassed $2 billion in lending for LEED-certified buildings. Of the buildings the company finances, 28 percent are LEED-rated, 37 percent have LEED-silver certification, 21 percent have LEED-gold certification, and 9 percent have LEED-platinum certification.
Since 2007, the company says it has doubled its commitments for LEED buildings from $1 billion to $2 billion; increased the number of LEED buildings it finances by 125 percent; and expanded its reach from financing LEED-certified buildings in 11 states and the District of Columbia to 19 states.
The company’s says its new banking stores have been pre-certified For LEED-silver certification. The new stores use about 20 percent less energy and 40 percent less water than conventional buildings of the same type.
Wells is a member of the EPA’s Climate Leaders program, it is also a leader on the EPA’s list of green power purchaser. The company has also adopted the Carbon Principles guidelines for banks to evaluate and address climate change risks in the financing of electric power projects and companies.
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Reader Comments
I think anything business can do to reduce waste, improve working environment, decrease energy use, and promote green energy production through purchase of tax credits or green tags – is positive. The title is a bit misleading – when you are the foremost commercial real estate lender – touting the green aspect when you are not truly focusing on that segment or providing preferential treatment – is a bit disingenuous.
Dan Weldon | January 6th, 2009