At Wells Fargo, we are working to embed environmental sustainability throughout our products, services, operations, and culture to drive efficiencies and responsible resource use while creating comfortable, safe, and healthy workplaces. Exposure refers to the extent to which a company is exposed to different material ESG issues. Key Points. Reporting and disclosures. Learn about the Wells Fargo Institute for Sustainable Finance. The Institute will work with communities as they prepare for and adapt to changing weather-related impacts, and will advocate for policies that enable client transitions. ESG is far from a new concept, but it has taken off in popularity over the past few years. Numbers may differ from other Wells Fargo reports that count employees based on full-time equivalent methodology. Gender, race, and ethnic diversity have been, and will continue to be, a priority for the Board and its GNC in its director nomination process because the GNC and the Board believe that it is essential that the composition of the Board appropriately reflects the diversity of the Companys employees and the customers and communities they serve. [Carrots and Sticks], 21. These insights can be used to identify areas of ESG improvement to help inform future management decisions that align with your organization's sustainability goals. Learn about our environmental, social, and governance (ESG) strategy, activities, and performance through the disclosures below. The company also announced the launch of an Institute for Sustainable Finance to manage the deployment of $500 billion of financing to sustainable businesses and . Bank of America, in April, for example, more than tripled its environmental financing goal, saying it wants to deploy more than $1 trillion by 2030 to accelerate the transition toward a low-carbon, sustainable future. Understand how exposed companies are to specific material ESG issues and how well companies are managing these issues. The creation of the ESG Solutions group is the latest in a series of recent of ESG-related initiatives at WellsFargo. 6Cn[j8lWbhZ064khzfn4agiU^U6dOFJ)w*AMoc]ccUJ6T.uk#_=u'r~o',oI/-@$` UVi:yaoonv}^ gn-:]5 ZinQw_W~=y/b=Aeo}vc@R6trCWXyz;#]!g#0FFa7jh61t:R;q4rOC"=XZ)F30h6;q{M*IDX 5gl GsAjj. ESG portfolios constructed using the ratings of two well-known ESG ratings providers yield large performance dispersion and low correlation of returns. Our Environmental, Social and Governance (ESG) commitments are not separate layers of our business, but core to who we are. Glendale, CA. Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. Wells Fargo has achieved carbon neutrality for Scope 1 and Scope 2 emissions for 2019 and 2020 operations, and we continue to leverage our annual energy spend to support the development of new renewable energy revenue, and grid resiliency in locations where our customers and employees live and work. Worse, only 39% believe their company performs well for governance, and 37% for social issues. Sustainability. You are leaving newsroom.wf.com and entering a website that Wells Fargo does not control. %%EOF [PwC]. Embarking on a formal ESG journey is no small feat. To opt in for email alerts, please enter your email address in the field below and select at least one alert option. 2022 Proxy Statement. 15. Diversity, equity, and inclusion leaders across the company help to strategically implement inclusive practices and behaviors. At Wells Fargo, we are working to embed environmental sustainability throughout our products, services, operations, and culture to drive efficiencies and responsible resource use while creating comfortable, safe, and healthy workplaces. The company is split into four primary segments . Access ESG strategy, activities, performance, and reports. 2758 0 obj <>/Filter/FlateDecode/ID[<6DC46A0024834C4582CAFF16DB74A66E><2A133B070528D64983A832B5E1A57119>]/Index[2749 18]/Info 2748 0 R/Length 63/Prev 503325/Root 2750 0 R/Size 2767/Type/XRef/W[1 2 1]>>stream Wells Fargo's net-zero . Another reason for the rapid growth of ESG has to do with global mandates. %%EOF In response, many major banks and investing firms including JP Morgan, Wells Fargo, and Blackrock have incorporated ESG investing criteria into their processes and products. [Clearwater Analytics]. endstream endobj startxref Based on our most recent ESG priority assessment, we have organized our ESG priorities into four leadership themes represented below: Opportunity, Sustainability, Community, and Ethics & Integrity. Learn More. Appointment reflects surge in client demand for ESG products and services. News, insights and perspectives from Wells Fargo are also available at WellsFargo Stories. Meeting the increasingly diverse needs of Wells Fargos global customer base is critical for our companys long-term growth and success. More than half of investors are interested in sustainable investing, and sustainable investments have grown 30-fold since 2010. Wells Fargo is the latest big bank to embrace ambitious lending goals to fight the climate crisis. A summary of the study appeared in the publication's April 8 edition. Hannah.Sloane@wellsfargo.com. performance . Website www.wellsfargo.com. To meet this goal, we are taking a thorough view of how to address climate change, looking across our business and financial portfolios, reducing the impact of our operations, and driving resiliency in our communities. In the past year, demand for ESG solutions from our corporate clients has surged across many areas, from subscription finance to equity capital markets, M&A, and bond issuance. You must click the activation link to complete your subscription. Clients are increasingly focused on ESG-related solutions to meet sustainability goals, said Rob Engel, head of Banking at WellsFargo. Creating solutions to pressing societal challenges. Wells Fargos Board of Directors, through its Human Resources Committee, oversees the Companys human capital management practices, including our talent management and succession planning process, diversity, equity, and inclusion initiatives, and pay equity reviews. p01XV8M1HV@l=+g~'D,L``^j8c Sustainability and Other Reporting. hb```"EVkB cc`aP`4`H Only 50% of companies believe their company performs very effectively against environment metrics. endstream endobj 970 0 obj <>/Metadata 30 0 R/Outlines 46 0 R/Pages 967 0 R/StructTreeRoot 71 0 R/Type/Catalog/ViewerPreferences<>>> endobj 971 0 obj <>/MediaBox[0 0 612 792]/Parent 967 0 R/Resources<>/Font<>/ProcSet[/PDF/Text]>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> endobj 972 0 obj <>stream [Climate Bonds Initiative], 18. hbbd```b`` j""Yl5``! Naveg a una pgina que no est disponible en espaol en este momento. [FactSet], 5. Wells Fargo does not endorse and is not responsible for their content, links, privacy, or security policies. (Photo: Wells Fargo) "Through the issuance of this second Sustainability Bond, Wells Fargo is . hbbd``b`>$\#/; HL 6$g`bq0 X Additional information may be found atwww.wellsfargo.com | Twitter:@WellsFargo. E.J. WellsFargo Corporate & Investment Banking delivers a comprehensive suite of capital markets, banking, and financial products and services. 0 For more information on WellsFargos approach to climate change and other ESG topics, Wells Fargos TCFD Report, ESG Report, and 2020 ESG Goals and Performance Data are available on wellsfargo.com. Learn about the Wells Fargo CO2eMission to help drive down greenhouse gas emissions to net zero by 2050. More than 200 companies have signed The Climate Pledge, a pact to reach the Paris Agreement goal of net zero carbon 10 years early. One former employee said she could not meet sales goals in any ethical way and called the Wells Fargo's ethics hotline. A lack of data availability and, more specifically, siloed data keeps companies from reaching their goals. Reducing our energy, water, and resource consumption and greenhouse gas emissions, Deploying sustainable building design, construction, and operations into our corporate properties, Engaging employees in environmental activities and leveraging their skills. You can search by company name or ticker to view the ESG and climate risks and opportunities the company might face. There are many factors to take into consideration when choosing an investment portfolio and ESG data is only one component to potentially consider. Between 2011 and 2016, approximately 5,300 employees were fired for fraudulent . Plays a major role in shaping, sustaining, and driving the business development of the bank across 54 branches throughout the East Coast . Opportunity. . Goals and Reporting. Past performance is no guarantee of future results. "Enterprises should improve data security and privacy controls to meet certain ESG disclosures," Hirth said. We're sorry, but some features of our site require JavaScript. Contact Information At the time, Wells Fargo was widely considered to be one of the top banks in America, with a strong focus on workplace, diversity and inclusion, and philanthropy. All Rights Reserved. Seleccione el enlace si desea ver otro contenido en espaol. Today there are nearly 400 reporting provisions in the 80 countries included in the study. Performance data quoted represent past performance and are no guarantee of . Sources: Bloomberg and Wells Fargo Investment Institute, as of December 31, 2021. And, given the fact ESG reporting mandates have grown by 74% in the last four years, it's safe to say that ESG is here to stay. I am also a part of a non-profit organization . This includes financial products and services that: In 2021, we launched the Wells Fargo Institute for Sustainable Finance to help deploy financing to sustainable businesses and projects and to support science-based research on low carbon solutions. Categories include: socioeconomic advancement and empowerment, housing affordability, healthcare, and education. 1013 0 obj <>stream endstream endobj startxref 02:46. As described in the Board's Corporate Governance Guidelines, the Board strongly considers diversity in evaluating director nominees. 2. Setting the right ESG goals will help your company demonstrate your long-term business vision to your customers, investors, and other relevant stakeholders. The ESG Risk Ratings measure a company's exposure to industry-specific material ESG risks and how well a company is managing those risks. [Carrots and Sticks]. Learn More. You can sign up for additional alert options at any time. Climate-related weather events are expected to cost businesses $1.3 trillion by 2026 [CDP], 8. Jul 2015 - Jun 20172 years. In 2018, WellsFargo announced it will provide $200 billion in financing to sustainable businesses and projects by 2030, with more than 50% focused on clean technology and renewable energy transactions that directly support the transition to a low-carbon economy.
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