Wells Fargo, a bank on the rise

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!!

Related posts

• West Coast Green – How my life changed this week
• Recycle Bank