SAN FRANCISCO–(BUSINESS WIRE)–Continuing to accelerate its support for a green economy, Wells Fargo & Company (NYSE: WFC) announced today it provided $6.4 billion in loans and investments in 2012 to businesses and projects with a direct positive impact on the environment. This marks the company’s first environmental financing update since announcing last year an expanded commitment to provide an additional $30 billion by 2020. Wells Fargo made its initial environmental financing commitment in 2005, and through 2011 the company provided $11.7 billion in loans and investments and more than $3.1 billion in additional financial services. Together, with today’s record announcement of $6.4 billion, Wells Fargo has financed more than $21 billion for green businesses, green buildings, and clean energy customers since 2005.
“Wells Fargo has long recognized this opportunity and we remain committed to supporting our customers who are leading the way in creating a more sustainable future.”
According to its latest Environmental Finance Report, released today, Wells Fargo continued to increase its support for clean energy and green buildings in 2012. The company invested more than $500 million of tax equity in wind and solar projects, bringing its total to $2 billion for wind assets and more than $1 billion for solar projects across 29 states. Renewable energy systems in Wells Fargo’s portfolio of over 300 projects produced approximately 16 terawatt-hours of electricity in 2012 – enough to power 1.2 million homes for one year. In addition, the company provided $3.1 billion for LEED®-certified buildings, $180 million toward Brownfield redevelopment projects and more than $700 million toward ENERGY STAR-certified properties. Wells Fargo also provided $900 million in loans and investments benefitting low-income communities or housing projects. Continue reading