Wells Fargo to Make $30+ Billion in Environmental Investments by 2020

Wells Fargo announced recently the following goals to be achieved by 2020: $30 billion in loans and investments in support of a “greener” economy, $100 million in community grants for grassroots environmental initiatives, and a 40% increase in the company’s energy efficiency. “Our research shows more than 80 percent of our consumers think environmental issues are important,” said Mary Wenzel, Wells Fargo’s director of Environmental Affairs. Wells Fargo’s commitment to investing in environmental solutions for stronger communities includes three areas of focus through 2020:
Accelerating the transition to a “greener” economy:

$30 billion in loans and investments to promote a “greener economy,” including wind and solar energy, clean technologies, energy efficient buildings, environmental innovation, and environmentally responsible public financing
An approach to environmental and social risk management focused on responsible ways of doing business together with our business customers
Engage its 70 million customers through marketing and communications aimed at raising awareness about products and services that can help customers succeed financially as well as protect the environment – e.g. promotions of paperless banking services and financing for energy efficient home improvements

Encouraging stronger and more sustainable communities:

$100 million in community grants and increased volunteerism for grassroots environmental initiatives, such as programs that bring people together to plant and care for city trees and open spaces. Grants also support “innovation” led by nonprofits and universities aimed at promoting clean technology and breaking down barriers to a “greener” economy
Target $1 billion for low- to moderate-income communities to prove the added value of community investments with environmental benefits

Reducing the environmental impact of Wells Fargo’s operations:

Create a culture of sustainability by increasing team member environmental stewardship in our communities, at work and in our daily lives
Achieve measurable environmental performance goals by 2020:

             -  40% increase in energy efficiency
             -  65% waste diversion rate
             -  35% reduction in absolute greenhouse gas emissions below 2008 levels
             -  35% of buildings will achieve Leadership in Energy and Environmental Design (LEED®) certification

Engage suppliers to enhance its environmental performance through increased accountability and transparency in its supply chain

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