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Wells Fargo Pledges Net-Zero GHG Emissions by 2050 (Ind. Report)
Wells Fargo
Date: 2021-03-10
San Francisco-based banking giant Wells Fargo -- the country's 6th largest bank with $1.9 trillion in assets -- reports it is setting a goal of net-zero greenhouse gas emissions -- including its financed emissions -- by 2050.

To that end, Wells Fargo will: measure and disclose financed emissions for select carbon-intensive portfolios; set interim emission reduction targets; deploy more capital to finance climate innovation; and continue to work with its clients on their own emissions reductions efforts.

The bank will also launch an Institute for Sustainable Finance to manage the deployment of $500 billion of financing to sustainable businesses and projects by 2030, as well as support science-based research on low-carbon solutions and advocate for policies that enable client transitions. (Source: Wells Fargo & Company, PR, 8 Mar., 2021) Contact: Wells Fargo, www.wellsfargo.com

More Low-Carbon Energy News Wells Fargo,  Carbon Emissions,  Net-Zero Emissions,  


Shell Australia Acquiring Select Carbon (Int'l. Report, M&A)
Shell Australia
Date: 2020-08-03
In the Land Down Under, Perth-headquartered Shell Australia is reporting it will acquire carbon emissions offsetting specialist Select Carbon. The move is Shell's first acquisition for its nature-focused business division which invests in forests, grasslands, wetlands and other natural ecosystems around the world. The acquisition will contribute to Shell's ambition to be a net-zero emissions energy business by 2050 or sooner.

Select Carbon partners with farmers and other landowners to develop carbon farming projects throughout Australia which aim to reduce emissions and capture CO2 while benefiting biodiversity and local communities. Carbon credits generated through Select Carbon's projects are offered through the Australian government's Emissions Reduction Fund and other markets, creating an additional revenue stream for farmers and landowners, according to the Shell release.

Select Carbon has to date developed and manages a portfolio of over 70 projects covering 9 million hectares across various ecosystems and agricultural uses in Australia, according to the Shell release. The acquisition of Select Carbon is subject to Australian regulatory approvals and expected to close before the year end. (Source: Shell Australia, S&P, 3 Aug., 2020) Contact: Shell Australia, +61 8 9338 6600, www.shell.com.au; Select Carbon, +61 414 334 170, www.selectcarbon.com

More Low-Carbon Energy News Carbon Farming,  Carbon Credit,  Shell Australia,  Select Carbon,  Carbon Credits,  

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