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Green Buildings Get a Boost from Wells Fargo


New Mexico Business Weekly
November 11, 2008


U.S. Green Building Council seeks comment on new program

Wells Fargo & Co. has substantially increased its financing for buildings
certified by the U.S. Green Building Council for Leadership in Energy and
Environmental Design.

The bank doubled its lending for LEED-certified buildings since May 2007 from $1
billion to $2 billion. It increased the number of LEED buildings financed by 125
percent, expanded the number of states with buildings receiving loans from 11 to
19, and broadened the type of LEED buildings qualified for loans to include a
cold storage facility, a data center, and a community center.

Of the buildings financed by Wells Fargo, 28 percent are LEED-rated, 37 percent
are LEED silver, 21 percent are LEED gold, and 9 percent are LEED platinum the
highest rating available.

Wells Fargo is one of the first businesses to receive pre-construction LEED
certification for new buildings. All future Wells Fargo banks will use about 20
percent less energy and 40 percent less water than conventional buildings of the same type.

Also, since 2007, Wells Fargo has contributed about $500,000 to nonprofit
organizations in support of green building education and practices.

Wells Fargo (NYSE: WFC) is a diversified financial services company with $622
billion in assets.

 

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