By Dieter Holger Wells Fargo & Co. pledged half a trillion dollars over the next decade as part of a new goal to reach net-zero emissions by 2050, joining other big banks that have set out similar actions. The San Francisco-based bank, one of the five largest in the U.S. by assets, said Monday that its new pledge takes aim at its funding of carbon-intensive industries. To aid in that goal, it would deploy some $500 billion by 2030 toward sustainable financing that would help green the economy. Wells Fargo s move expands its focus from its contribution to climate change from its direct operations, like its offices, business travel and energy use, to its financing, as banks face pressure from investors and activists to wield their lending power to fight climate change.
International Business Machines : IBM Says Its Carbon Capture Research Will Help Meet Its 2030 Net-Zero Goal
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