Wells Fargo & Company (WFC) said in a statement that it will offset 40 percent of its energy consumption by purchasing renewable energy certificates to support generating 550 million kilowatt-hours of clean, renewable wind energy a year for three years. The action makes Wells Fargo becomes the largest corporate purchaser of renewable energy in the United States according to the U.S. Environmental Protection Agency, the company said. The nonprofit Center for Resource Solutionsverifies the certificates. The purchase, which supports wind power, will help develop renewable energy and prevent the emission of 380,000 tons of carbon dioxide each year.
Supermarket giant Safeway (SWY) has purchased the remaining 43.8 percent of GroceryWorks it did not already own, making the online-shopping and home-delivery business a wholly-owned subsidiary. The company operates Safeway.com in the San Francisco Bay Area, and also operates VONS.com throughout Southern California and Las Vegas, Nevada.
The Union Bank of California Foundation announced the beneficiaries of its "Cornerstone Awards," a $685,000 grant program founded in 2002 to fund emerging nonprofit housing developers in California. Theprogram provides flexible operating grants and funding for technical assistance to up-and-coming affordable homebuilders. Community Housing Partnership in San Francisco, Wakeland Housing and Development Corporation in San Diego and Rancho Housing Alliance in Coachella will each receive $195,000 over a three-year period to complete new affordable housing developments in their local areas.