Banking giant commits $200bn in sustainable financing

Wells Fargo will provide half of the funding for projects that directly support the low carbon transition

Big Zero Report 2022

Banking giant Wells Fargo has announced it will provide $200 billion (£143bn) in financing to sustainable businesses and projects by 2030.

More than 50% of the funding will be focused on clean technology and renewable energy projects that directly support the transition to a low carbon economy.

The other half will support businesses and projects focused on sustainable agriculture, recycling and conservation.

The company said it started meeting 100% of its global electricity needs with renewable energy last year and its 2020 carbon reduction goal of 45% from a 2008 baseline.

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