Gabby Brown, gabby.brown@sierraclub.org
San Francisco, CA -- This week, Wells Fargo announced that 100 percent of its global electricity consumption for 2017 will be met with renewable energy. However, the bank continues its support for fossil fuel companies, including loans to TransCanada, the company behind the controversial proposed Keystone XL tar sands pipeline. These loans to TransCanada will be up for renewal this December. In total, Wells Fargo has provided $1.43 billion in financing since 2014 for companies holding tar sands reserves and those operating tar sands pipelines.
In response, Sierra Club Beyond Dirty Fuels campaign director Kelly Martin released the following statement:
“It’s good to see Wells Fargo recognize the importance of using clean, renewable energy for their own operations, but without a commitment to stop putting billions of dollars into dirty, dangerous fossil fuel projects, it’s hard to see this announcement as anything other than a hollow bid for good publicity. If Wells Fargo is really serious about the transition to clean energy, then it is critical that they pull their money from Keystone XL and other dirty fossil fuel projects immediately.”
About the Sierra Club
The Sierra Club is America’s largest and most influential grassroots environmental organization, with more than 3 million members and supporters. In addition to helping people from all backgrounds explore nature and our outdoor heritage, the Sierra Club works to promote clean energy, safeguard the health of our communities, protect wildlife, and preserve our remaining wild places through grassroots activism, public education, lobbying, and legal action. For more information, visit www.sierraclub.org.