My financial adviser notified me last month that our bank Wachovia is going to be acquired by Wells Fargo. It’s also been recently announced that Wells has exceeded $3 billion in environmental financing. Seems like they’re taking full advantage of this economic crisis and positioning to become a major player. Wondering what they’re gonna do with that 3 bil?

They’re breaking it out into 4 main categories:

Green Buildings – $2 billion in financing for LEED certified buildings

Renewable Energy – $700 million for solar and wind projects to power upwards of 475,000 homes

Green Businesses – $500 million to businesses incorporating green into operations (renewable energy, energy efficiency, sustainable agriculture, resource management)

Community Development – $50 million to non-profits improving environments in low/mid income neighborhoods

You realize when ‘going green’ has somehow reached the banks and how they conduct business, this whole sustainability movement is not just a niche or a vertical or a market segment. It’s the essence of a whole new economy!

PS: Wells needs a new logo… bad!!

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