SAN FRANCISCO, July 19 /PRNewswire-FirstCall/ -- Wells Fargo & Company (NYSE:WFC) said today it has surpassed $1 billion in loans for Leadership in Energy and Environmental Design (LEED(R)) certified buildings. Since 2004, Wells Fargo has financed 19 LEED buildings in 10 states with loans ranging from $10 million to $225 million for offices, apartments, condominiums and schools, representing a range of financing solutions. "Green" features include: -- Green roofs covered with vegetation to help conserve energy -- Storm water management systems that collect and recycle rain or gray water -- Water efficient landscaping -- Air quality measures (more effective ventilation, using low-emitting materials) -- Built-in recycling areas in buildings -- On-site renewable energy sources -- solar or geothermal LEED is a voluntary, consensus-based green building rating system developed by the U.S. Green Building Council (USGBC) for constructing high-performance, sustainable buildings. "We can help protect the environment by supporting the development of energy efficient buildings," said Larry Chapman, head of Commercial Real Estate at Wells Fargo, who attributes much of Wells Fargo's success in this area to its experienced developer and investor customers. "Wells Fargo has set ambitious lending targets and will continue to develop our expertise by training our lenders about green building practices." "We applaud Wells Fargo's leadership efforts," said Rick Fedrizzi, President, CEO & Founding Chair of the USGBC. "Buildings are responsible for 39 percent of CO2 emissions in the U.S., which directly impacts global climate change -- however LEED buildings consume half the energy of conventional buildings. Companies such as Wells Fargo and Thomas Properties are outstanding examples for other organizations to follow." Most recently, Wells Fargo loaned $42.7 million to Thomas Properties Group, L.P. for the Four Points Centre, a 192,000 square-foot complex in Austin, Texas, of two three-story buildings that are expected to earn LEED certification. "We believe that high performance buildings such as Four Points Centre have a favorable influence on employee health, comfort, productivity, recruitment and retention. These benefits have a significant impact on the employers' bottom line," said Jim Thomas, CEO of Thomas Properties Group, Inc. "High performance buildings will be the growth engine for real estate for years to come." Wells Fargo considers energy efficiency in its own operations. It participates in the USGBC's Portfolio Program to create a prototype for its retail banking stores that meets LEED standards. Its datacenters include energy saving free-cooling systems and a number of its administrative buildings, including headquarters, are Energy Star rated for top performance in energy efficiency. Wells Fargo & Company is a diversified financial services company with $540 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 credit rating from both Moody's Investors Service, "Aaa," and Standard & Poor's Ratings Services, "AAA." Commercial Buildings and Energy Facts*: -- Commercial and residential buildings consume 39 percent of our nation's energy. -- 70 percent of energy consumed by commercial buildings is for heating and lighting. -- Last year, commercial sales of electricity exceeded 1.3 trillion kilowatt hours of electricity averaging 9.36 cents per kilowatt ($122 billion). -- Since 2000, average US retail electricity prices for commercial customers have risen 25 percent. -- US commercial energy demand is expected to increase 32 percent by 2020. -- Most U.S. electricity comes from non-renewable sources; about 2 percent comes from non-hydro renewable sources such as wind, solar and geothermal. *Source: Energy Information Administration and Department of Energy
