Wells Fargo said on Monday that it provided $6.4 billion last year to businesses and initiatives that have a positive impact on the environment, bringing the company’s total contributions to green businesses and buildings to more than $21 billion.
“As we continue to make progress toward our new $30 billion environmental financing goal, Wells Fargo is providing capital to support the next generation of resource management, clean energy and sustainable building solutions,” Barry Neal, the head of Wells Fargo’s environmental finance division, said. “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.”
Last year, Wells Fargo said it would expand its commitment to the environment by providing an additional $30 billion by 2020. Wells Fargo announced its first environmental financing commitment in 2005, and between 2005 and 2011, the company provided $11.7 billion in investments and loans and more than $3.1 billion in financial services.
The company provided more than $500 million of tax equity to wind and solar initiatives—marking a $2 billion total for wind assets and more than $1 billion for solar initiatives across 29 states.
Additionally, the company contributed $180 million toward Brownfield redevelopment, more than $700 million to ENERGY STAR-certified properties and $900 million in loans investments for low-income communities and housing projects.
Wells Fargo has more than 30 staff members dedicated to renewable energy and clean business technologies and products.