23 Apr '12, 12pm

Wells Fargo to invest $30B in environmental financing

Wells Fargo to invest $30B in environmental financing

Wells Fargo (NYSE: WFC) is upping the ante for environmental investment. On Monday, the bank announced it will plunk down $30 billion in loans and investments aimed at building a greener economy. The goal, which it hopes to achieve by 2020, represents a significant jump from its former target of $1 billion by 2010, which the company blasted past with investments of more than $3 billion by the end of 2008 . Wells Fargo has been steadily growing its bets in environmental projects, investing a record $2.8 billion in 2011 for a then total of $11.7 billion. The news Monday indicates the bank intends to more than double down. That could have a huge impact as the money opens the gate for more wind and solar energy projects, energy efficient buildings, environmental innovation and environmentally responsible public financing. “Our commitment to the environment reflects our belief ...

Full article: http://www.greenbiz.com/blog/2012/04/23/wells-fargo-commi...

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