Company meets 100 percent of global electricity requirements with renewable energy
DENVER--(BUSINESS WIRE)--The U.S. Environmental Protection Agency (EPA) has named Wells Fargo to
its Green
Power Partnership National Top 100 for using nearly 2 billion
kilowatt-hours (kWh) of renewable energy annually, representing 100
percent of the company’s global electricity requirements. Wells Fargo
ranked No. 4 on the list. The list recognizes organizations that take
action to maximize the production of renewable energy and minimize the
climate impacts associated with their operations.
Wells Fargo also ranked No. 1 among financial services companies.
The EPA’s Green Power Partnership National Top 100 is based on the
amount of renewable energy purchased and produced by each organization.
Acting on an operational sustainability commitment made in 2012, Wells
Fargo began meeting 100 percent of its global electricity needs in 2017,
primarily through the purchase of unbundled Renewable Energy
Certificates. The company is working to transition, by the close of
2020, to long-term contracts that fund net-new sources of renewable
energy, bundled with Renewable Energy Certificates and supplemented by
maximizing on-site solar production within its nearly 85 million square
feet of real estate.
“Wells Fargo’s sustainability goal is to accelerate the transition to a
low-carbon economy, and we are a recognized leader and innovator in the
area of operational efficiency,” said Mary Wenzel, head of
Sustainability and Corporate Responsibility at Wells Fargo. “Setting and
meeting aggressive operational sustainability goals — like our 100
percent renewable energy goal — is one way we put our commitment into
action. It also is a great point of pride for so many of our committed
team members.”
James Critchfield, program manager of the EPA’s Green Power Partnership,
said, “This list of the largest users of green power across the nation
is proof that good business practices can also benefit the environment.
EPA applauds the leading organizations in the Green Power Partnership
rankings for their notable commitment to expand the use of green power
and protect the environment.”
According to EPA, Wells Fargo's green power use of nearly 2 billion kWh
is equivalent to the annual electricity use of more than 184,000 average
American homes.
Wells Fargo also leverages its businesses, its company culture and its
community support to meet sustainability goals. For example, in 2018 the
company announced it would provide $200
billion in financing to sustainable businesses and projects by 2030,
with more than $100 billion earmarked for renewable energy, clean
technology and green building transactions that directly support the
transition to a low-carbon economy. Also, in 2017, 8 percent of all wind
and solar energy generated in the U.S. came from facilities owned wholly
or in part by Wells Fargo through its Renewable Energy and Environmental
Finance business.
For more information on Wells Fargo’s commitment to sustainability, go
to https://www.wellsfargo.com/about/corporate-responsibility/environment/,
or read our most recent Corporate
Responsibility Report.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based
financial services company with $1.9 trillion in assets. Wells Fargo’s
vision is to satisfy our customers’ financial needs and help them
succeed financially. Founded in 1852 and headquartered in San Francisco,
Wells Fargo provides banking, investment and mortgage products and
services, as well as consumer and commercial finance, through 7,800
locations, more than 13,000 ATMs, the internet (wellsfargo.com) and
mobile banking, and has offices in 37 countries and territories to
support customers who conduct business in the global economy. With
approximately 259,000 team members, Wells Fargo serves one in three
households in the United States. Wells Fargo & Company was ranked No. 26
on Fortune’s 2018 rankings of America’s largest corporations. In 2017,
Wells Fargo donated $286.5 million to 14,500 nonprofits and Wells Fargo
team members volunteered a record 2 million hours. Wells Fargo’s
corporate social responsibility efforts are focused on three strategic
priorities: diversity and social inclusion, economic empowerment, and
environmental sustainability. News, insights and perspectives from Wells
Fargo are also available at Wells
Fargo Stories.
