Wells Fargo Enters its Largest Renewable Energy Purchase - Seite 2

“Maximizing our on-site solar generation is a simple way to help reach our renewable energy goal while enhancing the value of our significant real estate portfolio,” Henderson said. “It’s a tangible demonstration of our corporate citizenship in the communities where we do business.”

Financing Renewable Energy

Wells Fargo is a leader in financing large-scale wind, solar, and other renewable energy projects. The company made its first tax equity commitment in 2006; since then, it has become one of the leading investors in the renewable energy space, providing more than $7.5 billion of tax equity financing to customers in support of more than 400 projects. In 2018, Wells Fargo made a $200 billion sustainable finance commitment through 2030, with at least 50% going toward renewable energy and clean technology projects. In its first year, the company deployed $23 billion in sustainable finance, with 63% going toward low-carbon solutions such as renewable energy, green buildings, and clean technologies.

Achieving Renewable Energy Goals

Wells Fargo has been meeting 100% of its global electricity requirements with renewable energy and energy products since 2017, primarily through the purchase of renewable energy certificates, which satisfied the first part of a two-pronged 2020 renewable energy goal set in 2016. The company is now working to fulfill the second part of that commitment — to transition to a higher mix of long-term electricity contracts and significantly increase deployment of on-site generation in order to support the development of net-new sources of renewable energy by 2020.

About Wells Fargo

Founded in 1852 and headquartered in San Francisco, Wells Fargo & Company (NYSE:WFC) provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through 7,500 locations, more than 13,000 ATMs, and the internet (wellsfargo.com). With approximately 261,000 team members, Wells Fargo serves one in three households in the United States. With its corporate philanthropy, Wells Fargo aims to pave a path to stability and financial success for underserved communities by focusing on housing affordability, small business growth, and financial health, among other local community needs. In 2018, Wells Fargo donated $444 million to nearly 11,000 nonprofits. For 10 consecutive years, Wells Fargo has held the honor of No. 1 in workplace giving by United Way Worldwide. Wells Fargo team members also actively support communities by donating more than 2 million hours of volunteer time in the last year. News, insights and more information on the company’s overall corporate responsibility are available at Wells Fargo Stories and www.wellsfargo.com/impact.

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