Source: Wells Fargo & Company
Wells Fargo & Company (NYSE: WFC) announced that it is the first U.S. financial institution to make clean, renewable energy reward options available to its cardholders.
Through Wells Fargo Rewards programs, consumer and business credit card and check card customers can now redeem reward points to support renewable energy projects and receive certificates for their donations.
"We offer a wide variety of choices to our customers including gift cards, merchandise, cash and airline tickets. Customers can even donate their reward points if they choose," said Nancy Beaver, Wells Fargo Card Services vice president of customer marketing. "By adding a twist of 'green' to our program, we are making it easier for our customers to make eco-friendly choices and helping raise awareness about environmental issues."
Cardholders who are enrolled in one of the optional Wells Fargo Rewards programs can earn points for nearly every purchase they make (purchases minus returns/credits; also, purchases made using a PIN do not qualify). For 5,000 points, cardholders can support 6,000 kilowatt hours of green power, the equivalent to the clean air benefits of three acres of pine forest storing carbon for one year. For 10,000 points, cardholders can support the development of enough green power to offset the more than seven tons of greenhouse gas emissions - the emissions from typical residential electricity use for a year, based on average consumption rates.
Wells Fargo Rewards programs that offer renewable energy certificates include Enhanced Rewards, Exclusive Rewards, Rewards for Business Check Card and Wells Fargo Business Card Rewards(SM).
At year-end 2006, Wells Fargo was the largest purchaser of renewable energy in the United States according to the Environmental Protection Agency's Green Power Partnership program. More than 40 percent of Wells Fargo's electricity, nationwide, is offset with wind power. The Company supports the development of new renewable energy sources through financing and other investments. To conserve energy Wells Fargo has aggressive energy efficiency measures in its own facilities and is a leading financer of green, LEED certified, buildings.