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Wells Fargo Joins EPA's Climate Leaders and Adopts Carbon Principles

Posted on: Thursday, 10 July 2008, 12:01 CDT

Wells Fargo & Company (NYSE: WFC) announced today it has joined the U.S. Environmental Protection Agency's (EPA) Climate Leaders program, pledging to reduce greenhouse gas emissions from its operations. The Company also adopted the Carbon Principles, guidelines for banks to evaluate and address climate change risks in the financing of electric power projects and companies. These two actions add to Wells Fargo's achievements in meeting its 10-point environmental commitment issued three years ago and demonstrate the Company's commitment to protect and preserve natural resources for future generations.

"Slowing climate change will take an effort from everyone," said Pat Callahan, Wells Fargo's new head of Social Responsibility. "We're doing our part by reducing greenhouse gas emissions from our operations and supporting healthy, sustainable and economically sound communities. We look forward to helping our customers seize business opportunities that can help them operate more efficiently and protect the environment at the same time."

Wells Fargo established its 10-Point Environmental Commitment to integrate environmental stewardship into the Company's operations, business practices and culture. In addition to focusing on energy and resource conservation in its own operations, Wells Fargo has more than doubled its original $1 billion lending target two years ahead of schedule. The Company has financed more than $2 billion for renewable energy projects and Leadership in Energy and Environmental Design (LEED)-certified "green" buildings. Wells Fargo has also launched a solar home program in California aimed at encouraging the development of energy efficient, solar powered homes. To view other achievements, visit Environmental Affairs on wellsfargo.com.

About Climate Leaders: http://www.epa.gov/climateleaders/.

About Carbon Principles: www.carbonprinciples.com.

Wells Fargo & Company is a diversified financial services company with $595 billion in assets, providing banking, insurance, investments, mortgage and consumer finance through almost 6,000 stores and the internet (wellsfargo.com) across North America and internationally. Wells Fargo Bank, N.A. is the only bank in the U.S., and one of only two banks worldwide, to have the highest possible credit rating from both Moody's Investors Service, "Aaa," and Standard & Poor's Ratings Services, "AAA."

Source: Business Wire

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