The data can be challenging to track, which prompted our Wells Fargo Investment Institute team to develop a proprietary . Finance and ESG are an increasingly interconnected proposition. Our goal is to achieve net-zero greenhouse gas emissions by 2050, including financed emissions. 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. But don't take our word for it. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health and a low-carbon economy. Environmental, social, and governance (ESG) reporting . Serve excluded, under-served, or marginalized people or communities. Explore real stories about how were helping our communities thrive. Past performance is no guarantee of future results. ejbernacki@wellsfargo.com. It is almost entirely focused on the U.S. (Credit: Pixabay) Wells Fargo this week announced another step in its efforts to support the transition to a low-carbon economy by setting a goal of net zero greenhouse gas emissions including its financed emissions by 2050. Environmental and social impact management (PDF), Environmental, social, and governance (ESG) reporting. Their ESG Goals and Performance Data reflect progress against its goals in the following areas of priority: Diversity and inclusion Economic empowerment; Environmental sustainability; In 2020, Wells Fargo transitioned its annual corporate responsibility reporting to environmental, social, and governance (ESG) reporting. 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. Wells Fargo & Co.'s Management of ESG Material Risk is Average. 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. Were committed to advancing diversity, equity, and inclusion by helping ensure that all people across our workforce, our communities, and our supply chain feel valued and respected and have equal access to resources, services, products, and opportunities to succeed. Creating solutions to pressing societal challenges. HW0T4*2~^ro}*;vpYkC10ht400(ut QL@d-+d10~"@,vD ?~? Additional information about the diversity of our Board of Directors is included in our annual proxy statement which is available on our Annual Reports and Proxy Statements page. 991 0 obj
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A trusted partner to our clients, we provide corporate and transactional banking, commercial real estate lending and servicing, investment banking, equity and fixed income solutions including sales, trading, and research capabilities to corporate, commercial real estate, government, and institutional clients across the globe. Access ESG strategy, activities, performance, and reports. Mark Segal March 8, 2021. A seasoned banker, Pich has spent the past 20 years at WellsFargo, most recently leading the Asset Management coverage team in CIB. Reflecting this trend, we took the decision to integrate our ESG report into the 2021 Barclays PLC Annual Report. Jeenah Moon for The New York Times. Learn More. Copyright 2023 Sustainalytics. Wells Fargo & Co., the fourth-largest U.S. bank by assets and deposits, may raise its dividend once capital levels satisfy regulators and if the economic recovery continues, said Chief Executive Officer John Stumpf. Wells Fargo announced today a series of environmental sustainability initiatives, including setting a net zero 2050 target, encompassing financed emissions. 2758 0 obj
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Explore how we're creating a more inclusive future in your . Environmental and social impact management. Relevant military experience is considered for veterans and transitioning service men and women. "Sustainability At Wells Fargo, we remain excited about the future of sustainable finance, the transformative impact it will continue to . (Photo: Wells Fargo) "Through the issuance of this second Sustainability Bond, Wells Fargo is . Investors have become increasingly interested in ESG issues. All Rights Reserved. I am also a part of a non-profit organization . JPMorgan Chase is committed to helping our clients navigate the challenges and capitalize on the long-term economic opportunities and environmental benefits of . Learn more about our efforts and progress related to sustainability. We've rounded up a list of 25 ESG statistics that show just how powerful and important this concept is. Done right, it requires a significant investment of money and resources. We're committed to advancing diversity, equity, and inclusion by helping ensure that all people across our workforce, our communities, and our supply chain feel valued and respected and have equal access to resources, services, products, and . Appointment reflects surge in client demand for ESG products and services. Its top executives say that because they . The Governance and Nominating Committee (GNC) of Wells Fargo & Companys Board of Directors identifies, evaluates, and recommends board nominees who represent a variety of backgrounds, skills, professional and industry experience, and other personal qualities, attributes, and perspectives that contribute to the overall diversity of the Board. %PDF-1.7
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The $1.9 trillion-asset company said that it will pay 75% of the transaction's underwriting fees to firms owned by women, people of color and disabled . 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. WellsFargo Corporate & Investment Banking delivers a comprehensive suite of capital markets, banking, and financial products and services. 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. (pCG!aAT p01XV8M1HV@l=+g~'D,L``^j8c Goals and reporting. Green, social, and sustainability bonds designed to funnel investments into ESG projects reached a new global record of over $700 billion in issuances in 2021, almost double the 2019 total of $358 billion. Wells Fargo Investment Institute is a registered investment advisor and wholly owned subsidiary of Wells Fargo Bank, N.A., a bank affiliate of Wells Fargo & Company. 2766 0 obj
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Support clients or client activities that promote environmental sustainability. The number of ESG reporting provisions issued by governmental bodies has grown 74% over the last four years. As such, we view sustainability through a broad lens, spanning our work with clients, how we manage the firm, and how we engage with external stakeholders. Wells Fargo & Company ("Wells Fargo"or the"Bank") is a financial services company with approximately USD 1.9 trillion in assets, serving one in three U.S. households and more than 10% of all middle market companies in the U.S. 1 More than three out of four (77%) small and mid-caps have a formal purpose statement related to ESG. %%EOF
[Carrots and Sticks], 21. ESG Report, and 2020 ESG Goals and Performance Data are available . Our public ESG Ratings & Climate corporate search tool allows you to search over 2,900 companies that are constituents of the MSCI All Country World Index (ACWI). hbspt.cta._relativeUrls=true;hbspt.cta.load(2328737, '39d62033-905c-4285-b52a-83281a6a3ade', {"useNewLoader":"true","region":"na1"}); Perillon Western Regional Office:Denver, CO. Perillon is an established provider ofintegrated EHS Risk and Compliance Management softwaresolutions committed to customerexperience and service as its top priority. Wells Fargo Investment Institute is a registered investment advisor and wholly owned subsidiary of Wells Fargo Bank, N.A., a bank affiliate of Wells Fargo & Company. Investing with impact is the practice of using investments to generate identifiable and measurable positive impact in additional to financial returns. Social Impact & Sustainability leads the development of strategic initiatives and corporate commitments to drive positive, innovative social impact and sustainability, manage critical environmental and social issues, and enhance Wells Fargo's reputation as a leader in Environmental, Social and Governance (ESG) performance. Categories include: renewable energy, energy-efficiency, green buildings, and clean transportation. Address 420 Montgomery St, San Francisco, California, 94104-1207. Share. Key 2021 Highlights [NAVEX Global], 24. These data were collected in 2017 when Wells Fargo was in the middle of . In 2019, Perillon became part of Lisam,a global leader in SDS/ChemicalManagement software, serving morethan 1,700 customers from 24 worldwidelocations. We disclose our ESG strategy, policies and practices in our Annual Report and Proxy Statement. To help provide healthy, safe, productive, and environmentally responsible spaces for our stakeholders, we approach operational efficiency through the principles of: The Institute supports clients and communities to accelerate the transition to an equitable, low-carbon economy. In March2021, WellsFargo announced a goal to achievenet-zero GHG emissions, including emissions attributable to its financing, by 2050 as well as outlining a number of other climate-related initiatives. SAN FRANCISCO WellsFargo Corporate & Investment Banking (CIB), a division of WellsFargo & Company (NYSE: WFC), today announced that it has appointed Genevive Pich to lead Banking Environmental, Social, and Governance (ESG) Solutions. 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. 15. As of 2020, 88% of publicly traded companies, 79% of venture and private equity-backed companies, and 67% of privately-owned companies had ESG initiatives in place. Based on our pay equity reviews, we take appropriate actions so that our employees continue to be paid fairly and equitably. Wells Fargo today announced it has joined the Net-Zero Banking Alliance (NZBA), an industry-led leadership group designed to foster collaboration and support banks in aligning their financing with the goal of achieving net-zero greenhouse gas (GHG) emissions by mid-century. View of city skyline and tree lined streets. The company also recently launched a Sustainable Finance center of excellence to advance the practice and impacts of sustainable finance at WellsFargo and within the larger financial services sector, and drive innovation around financing resilient infrastructure and communities, scaling clean technology, advancing transition finance in carbon-intensive sectors, and catalyzing climate-aligned financing. 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. hbbd``b`>$\#/; HL 6$g`bq0 X
She brings strong relationship management, product, and credit experience, having supported a range of industry segments, as well as leading origination efforts in Emerging Europe, Africa, India, and Middle East for financial institutions. [NAVEX Global], 2. EU Sustainable Finance Action Plan Solutions, Morningstar Sustainability Rating for Funds. NMLSR ID 399801. Unless otherwise explicitly agreed in writing, usage for products and services, index creation, derivative work, portfolio or fund management, or any other usage are not permitted. 15. Climate change is one of the most urgent environmental and social issues of our time. Table of Contents 2020 goals and progress 3 Diversity and inclusion 3 Economic empowerment 5 Environmental sustainability 6 Environmental, social, and governance (ESG) performance Please carefully review the Wells Fargo Advisors advisory disclosure document for a full description of our services. 20. The minimum account size for this program is $500. 22. Wells Fargo Joins Net-Zero Banking Alliance. [Deloitte], 17. Hannah.Sloane@wellsfargo.com. Another reason for the rapid growth of ESG has to do with global mandates. [Quoted Companies Alliance]3. Numbers may differ from other Wells Fargo reports that count employees based on full-time equivalent methodology. In April 2021, the Prince of Wales joined 40 banks worldwide in a working group called the . Our diversity, equity, and inclusion strategy provides common direction and clear goals across Wells Fargo. 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. [Climate Bonds Initiative], 18. Additional sustainability news, insights and perspectives are available at WellsFargo Stories. As described in the Board's Corporate Governance Guidelines, the Board strongly considers diversity in evaluating director nominees. Wells Fargo has provided this link for your convenience, but does not endorse and is not responsible for the content, links, privacy policy, or security policy of this website. hbbd```b`` j""Yl5``! Wells Fargo to Deploy Additional $500 Billion in Sustainable Finance by 2030. Key Points. "Enterprises should improve data security and privacy controls to meet certain ESG disclosures," Hirth said. 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. Opportunity. Plays a major role in shaping, sustaining, and driving the business development of the bank across 54 branches throughout the East Coast . second Inclusive Communities and Climate Bond, Working with clients to help finance their emissions reduction efforts, support science-based research on low-carbon solutions, and advocate for policies that enable client transactions, Driving innovation and accelerating market-based solutions to the climate crisis, Disclosing our progress to eventually include all Scope 3 financed emissions as sufficiently reliable data becomes available, Enhancing energy and resource efficiency in our own physical assets to help promote operational sustainability, adaptation, and resilience. Step 3 - Familiarize yourself with and set SMART goals. Understand how exposed companies are to specific material ESG issues and how well companies are managing these issues. [Carrots and Sticks]. We have a terrific opportunity to bring solutions to our clients that will help them achieve future growth and an enhanced market position, said Pich. Meeting the increasingly diverse needs of Wells Fargo's global customer base is critical for our company's long-term growth and success. You must click the activation link to complete your subscription. Wells Fargo has achieved carbon neutrality in its operations (scopes 1 and 2) since 2019, and has invested over $13.3 billion in clean energy projects across the country (between 2005 and 2021), making it a leading provider in the tax equity market. In March of 2021, Wells Fargo set a goal of netzero greenhouse gas emissions by 2050, including client emissions attributable to its financing; committed to set targets for interim financed emission targets for the Oil & Gas and Power sectors by the end of 2022; and reset its sustainable finance commitment to $500 billion between 2021 and 2030. One former employee said she could not meet sales goals in any ethical way and called the Wells Fargo's ethics hotline. Sustainalytics' Peer Performance Insights gives an in-depth analysis of your company's ESG strengths and weaknesses compared to your competitors and industry performance. I am currently working as Senior Business Systems Consultant at Wells Fargo, where I contribute to planning, designing and implementing a new end to end automation system to deliver Regulatory Reports. More than one in four S&P 500 companies that conducted earnings calls for Q4 2020 cited ESG.
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. We believe that climate change continues to be one of the most urgent environmental and social issues of our time, and we are working across our value chain to help accelerate the transition to a low-carbon economy and reduce the impacts of climate change on our business, communities, employees, and customers. Through the issuance of Sustainability Bonds, Wells Fargo seeks to reinforce its commitment to projects that align with its sustainability goals and advance the development of the broader sustainable finance market. endstream
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March 9, 2021 by Emily Holbrook. Exposure refers to the extent to which a company is exposed to different material ESG issues. ESG propositions had a positive impact on equity returns 63% of the time [McKinsey] 16. . Wells Fargo does not endorse and is not responsible for their content, links, privacy, or security policies. [FactSet], 5. More than 200 companies have signed The Climate Pledge, a pact to reach the Paris Agreement goal of net zero carbon 10 years early. It operates through branches, ATMs, and mobile and internet distribution channels globally. "Being transparent about our approach to environmental and social governance issues and the risks associated with them helps . Please enable JavaScript on your browser and refresh the page. endstream
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This represents a 63% increase in ESG mentions from the previous quarter, and the highest number of ESG mentions in the last ten years. We're sorry, but some features of our site require JavaScript. U.S. companies from Wells Fargo to Delta Air Lines are under increasing pressure from investors to address climate change, and they have been making the environment (or ESG) a focal point of . These ESG factors can often be measured (e.g., what the employee turnover for a company is), but it can be difficult to assign them a monetary value (e.g., what the cost of . NMLSR ID 399801. The data can be challenging to track, which prompted the Wells Fargo Investment Institute team to develop a proprietary assessment framework to analyze a firm's ESG policies and practices. News, insights, and perspectives from WellsFargo are also available atWellsFargo Stories. Wells Fargo announced today the issuance of its second Inclusive Communities and Climate Bond, a $2 billion bond that will finance projects and programs supporting housing affordability, economic opportunity, renewable energy, and clean transportation. ESG investments to grow market share and improve transparency . Based in Charlotte, NorthCarolina, Pich will report to Ken Kitkowski, head of Corporate Finance. Bernacki, 4158233523
Total Shareholder Return (1) (USD) 30 35 40 45 50 +61%. Advancement of climate goals and an emphasis on biodiversity COP27 and COP15 closed in winter 2022, raising accountability for climate goals and putting a . Success comes from inviting and incorporating diverse perspectives. Flexible work arrangements allow employees to select beginning and ending work times within a range of hours surrounding core operating hours of the business. We value and promote diversity, equity, and inclusion in all aspects of business and at all levels. By completing your subscription, you are providing consent to Wells Fargo Newsroom to send you email alerts and you are agreeing to our Digital Privacy and Cookies Policy.
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