American financial services giant Wells Fargo & Company has promised to invest over $30 billion (£18.6bn) into environmental projects by 2020. The company is also promising $100 million in community grants for grassroots initiatives and a 40% increase in the company’s energy efficiency.
Wells Fargo’s commitment to investing in environmental solutions includes three areas of focus: accelerating the transition to a “greener” economy; encouraging more sustainable communities and reducing the company’s environmental impact.
The $30bn sum is intended to help fund wind and solar energy, clean technologies, energy efficient buildings, environmental innovation, and environmentally responsible public financing.
Mary Wenzel, Wells Fargo’s director of Environmental Affairs said: “Our research shows more than 80% of our consumers think environmental issues are important. We share their values and concerns and are acting on them through a broad-based, financially powerful approach to the environmental opportunities and needs we see on the horizon.”