Well Fargo Passes $3 Billion Mark in Environmental Financing

December 26, 2008

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Wells Fargo has provided more than $3 billion in environmental financing, two-thirds of which has gone toward projects for LEED-certified buildings, the company said.

Other projects supported by Well Fargo investments are in renewable energy ($700 million) which combined are expected to generate enough clean energy to power nearly a half million households.

About $500 million went to green businesses – that is, those that have made environmental sustainability a key part of their missions, focusing on renewable energy, energy efficiency, sustainable agriculture and forestry, and resource management.

Wells Fargo also committed $50 million to nonprofit organizations that improve the environment in low- to moderate-income communities. See Wells Fargo’s progress report for details on how the $622-billion company supports environmental markets.

The original goal was to provide $1 billion in environmental financing – a mark that the company has now passed, two years ahead of schedule. The lending target was part of a larger, 10-point environmental commitment.

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