Enterprise Rent-A-Car established the 50 Million Tree Pledge in 2006 to celebrate its 50th year of business and restore tree canopies and watersheds that have been compromised by natural disasters and ecological deterioration.
This global initiative, in partnership with the Arbor Day Foundation, will plant 1 million trees per year by 2056. Planting 50 million trees will absorb as much as 15,000 tons of carbon dioxide and produce 10,000 tons of oxygen per year.
To complement the 50 Million Tree Pledge, Enterprise launched the Urban Tree Initiative to fund trees and tree plantings in cities devastated by disasters.
By the end of 2019, the 50 Million Tree Pledge will have planted 14 million trees around the world.
Smithfield Foods set a goal to reduce greenhouse gas emissions 25% by 2025 throughout its supply chain.
To support this ambitious goal, Smithfield works with grain farmers to find ways to reduce fertilizer loss from farms and improve soil health. The company buys substantial amounts of grain annually—in 2018, it fed its domestic hogs more than 10 billion pounds. Smithfield purchased 80% of its grain from acres engaged in sustainable farming practices in 2018, contributing to its greenhouse gas reduction goal. To date, Smithfield has helped hundreds of grain farmers on approximately 560,000 acres of land.
Through this initiative, Smithfield has increased the proportion of grain it buys directly from farmers from less than 10% to more than 60%, saving $8 million in grain purchasing costs in 2018 alone.
Wells Fargo Innovation Incubator
The Wells Fargo Innovation Incubator (IN2) is a technology incubator funded by the Wells Fargo Foundation and co-administered at the National Renewable Energy Laboratory (NREL).
IN2’s mission is to speed the path to market for early stage, clean-technology entrepreneurs. Launched in 2014 with an initial focus on supporting scalable solutions to reduce the energy impact of commercial buildings, IN2 expanded its focus in 2018 to advance technologies that address the interconnection of food, water, and energy.
Selected companies receive up to $250,000 in non-dilutive funding and technical support and validation from experts at NREL and the Donald Danforth Plant Science Center. To date, the 30 IN2 portfolio companies have collectively raised more than $175 million in follow-on funding from outside sources and 6 have successfully exited through mergers or acquisitions.