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.