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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. She was eventually fired. 1999 - 2023 Wells Fargo. tradingview no volume is provided by the data vendor. 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 . Throughout this document you will see the following callout to indicate where information about performance ERNs are dedicated to helping employees with professional growth and education, community outreach, business development, and customer insight. We value and promote diversity, equity, and inclusion in all aspects of business and at all levels. HW0T4*2~^ro}*;vpYkC10ht400(ut QL@d-+d10~"@,vD ?~? [PwC]. Please enable JavaScript on your browser and refresh the page. Usage as a credit rating or as a benchmark is not permitted. 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. Address 420 Montgomery St, San Francisco, California, 94104-1207. 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. Promoting diversity, equity, and inclusion awareness through education and training. Appointment reflects surge in client demand for ESG products and services. NMLSR ID 399801, Environmental, Social, and Governance (ESG) Report (PDF), Diversity, Equity, and Inclusion Report (PDF), Task Force on Climate-related Financial Disclosures (TCFD) report (PDF), CO2eMission: Net-Zero Alignment Methodology (PDF), Environmental and Social Impact Management framework (PDF), Equal employment opportunity and affirmative action, Priority Recommendations of the Wells Fargo Human Rights Impact Assessment and Actions in Response (PDF), Women in Finance CharterUK and Ireland (PDF), Corporate responsibility committee charter (PDF), Code of Ethics and Business Conduct (PDF), Responsible lending principles for consumer credit, Wells Fargo Foundation IRS Form 990 (PDF), Sustainability bond second party opinion (PDF), Inclusive Communities and Climate Bond Report (PDF), 2021 UK Modern Slavery Act statement (PDF), 2020 UK Modern Slavery Act statement (PDF), 2019 UK Modern Slavery Act statement (PDF), 2018 UK Modern Slavery Act statement (PDF), 2017 UK Modern Slavery Act statement (PDF), 2016 UK Modern Slavery Act statement (PDF), United Nations Environment Programme Finance Initiative, Sustainable Purchasing Leadership Council, 2020 Environmental, Social, and Governance (ESG) Report (PDF), 2019 Corporate Responsibility Highlights (PDF), 2018 Corporate Social Responsibility Report (PDF), 2017 Corporate Social Responsibility Report (PDF), 2016 Corporate Social Responsibility Interim Report (PDF). Wells Fargo & Company and its subsidiary, Wells Fargo Bank, N.A., have agreed to pay $3 billion to resolve their potential criminal and civil liability stemming from a practice between 2002 and 2016 of pressuring employees to meet unrealistic sales goals that led thousands of employees to provide millions of accounts or products to customers under false pretenses or without consent, often by . Learn about our environmental, social, and governance (ESG) strategy, activities, and performance through the disclosures below. ESG is far from a new concept, but it has taken off in popularity over the past few years. 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. "Being transparent about our approach to environmental and social governance issues and the risks associated with them helps . ESG-mandated assets could make up half of all professionally managed investments by 2025, totaling $35 trillion. However, much work is still needed to ensure that companies are ready for the ESG revolution. You are leaving wellsfargo.com and entering a website that Wells Fargo does not control. Explore how we're creating a more inclusive future in your . Selecione Cancele para permanecer en esta pgina o Contine para ver nuestra pgina principal en espaol. Security goals pertaining to ESG-related information is critical as well. We strive to leverage our employees differences to anticipate and meet the needs of our customers and communities while tapping into the innovation and creativity that comes from diverse perspectives. Table of Contents 2020 goals and progress 3 Diversity and inclusion 3 Economic empowerment 5 Environmental sustainability 6 Environmental, social, and governance (ESG) performance 991 0 obj <>/Filter/FlateDecode/ID[<7B34167B9934B64DBAF6CE4D686DE989><6189A443B2C36D419B9A7BC009226A0D>]/Index[969 45]/Info 968 0 R/Length 110/Prev 200620/Root 970 0 R/Size 1014/Type/XRef/W[1 3 1]>>stream D&%`<0;D2HFH2:n`@go ?h 25 ESG Statistics You Need to Know in 2023, three out of four (77%) small and mid-caps, could unlock $12 trillion a year in opportunities, Business and Sustainable Development Commission, come from business activities that support SDGs, highest employee satisfaction had ESG scores 14% higher, ESG propositions had a positive impact on equity returns, half of all professionally managed investments, ensure that the organizations ESG policies reflect the values of, only 39% believe their company performs well. All these benefits aside, one major reason ESG has taken off in the last few years has to do with investors. hbbd```b`` j""Yl5``! With the support Wells Fargo provides its over 64,700 members participating in one or more groups, and the programming they create, ERNs play a key role in recruiting and retaining talent. hbspt.cta._relativeUrls=true;hbspt.cta.load(2328737, '3418f2bf-d564-4d02-bbe0-19b30c19c9d2', {"useNewLoader":"true","region":"na1"}); As more companies get on board with ESG, new statistics are emerging every day that show how it is shaping the business landscape. We include both gender and race/ethnicity in our reviews. Environmental and social impact management. 37 on Fortunes 2021 rankings of Americas largest corporations. You can sign up for additional alert options at any time. [Quoted Companies Alliance]3. endstream endobj startxref 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. 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. Wells Fargo is committed to working with nonprofits to build a more inclusive, sustainable future for all. 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. The company is split into four primary segments: consumer banking, commercial banking, corporate and investment banking, and wealth and investment management. In this newly created role, Pich will drive a cohesive approach to meet accelerated demand for ESG products in the Corporate and Investment Bank, spanning debt capital markets, equity capital markets, public finance, lending, M&A advisory, cash management products, and liquidity. 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. The ESG Risk Ratings can help investors to identify, understand and manage ESG risks at the security and portfolio level with the aim of improving the long-term performance of their equity and fixed income securities. 1980s clothing stores; based on a true story: jesse 1988. joseph rosendo heritage; neil morrison motogp commentator; what is a meet and greet ticket; muskoka boat crash video. Opportunity. More information on sustainability at Wells Fargo can be found on Wells Fargo Stories. 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. That includes: Additional information about our diversity, equity, and inclusion efforts can be found in our Environmental, Social, and Governance (ESG) Report and our DE&I Report. With more than nine out of ten publicly traded companies adopting ESG, it's one of the biggest trends in the business world today. [NAVEX Global], 25. Support clients or client activities that promote environmental sustainability. Categories include: renewable energy, energy-efficiency, green buildings, and clean transportation. News, insights, and perspectives from WellsFargo are also available atWellsFargo Stories. 80% of the worlds largest companies are reporting exposure to physical or market transition risks associated with climate change [S&P Global Market Intelligence], 7. 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. Michelle.Palomino@wellsfargo.com, Hannah Sloane, 3478025942 JPMorgan Chase is committed to helping our clients navigate the challenges and capitalize on the long-term economic opportunities and environmental benefits of . Selecione Cancele para permanecer en esta pgina o Contine para ver nuestra pgina principal en espaol. E.J. To create accountability and measure progress, diversity, equity, and inclusion metrics are reported in the annual Diversity, Equity & Inclusion Report. The rigid, relentless sales goals that prompted Wells Fargo & Co. employees to open more than 2 million unauthorized customer accounts are on their way out, the company said yesterday.The day . A broader sustainability lens reveals that the index achieved an S&P DJI ESG Score improvement of 8% (at the index level), representing 23% of the overall ESG-improvement potential, given the sustainability characteristics of the starting universe. Categories include: socioeconomic advancement and empowerment, housing affordability, healthcare, and education. Naveg a una pgina que no est disponible en espaol en este momento. Reporting and disclosures. Our Environmental, Social and Governance (ESG) commitments are not separate layers of our business, but core to who we are. Leverage Sustainalytics' ESG Risk Ratings to understand and promote your corporate ESG performance with internal and external stakeholders. ESG propositions had a positive impact on equity returns 63% of the time [McKinsey], 16. We provide links to external websites for your convenience. 88% of consumers will be more loyal to a company that supports social or environmental issues [Cone Communications]. We've rounded up a list of 25 ESG statistics that show just how powerful and important this concept is. 3. [Quoted Companies Alliance], 4. In 2016, Well Fargo was fined a combined total $185 million for fraudulent activity, and CEO John Stumpf resigned. Please enable JavaScript on your browser and refresh the page. This is the companys second Sustainability Bond and its first to include consumer financing of electric vehicles as a project category. Access ESG strategy, activities, performance, and reports. You must click the activation link to complete your subscription. We're taking an active role in addressing pressing societal challenges to drive positive impact. When Parnassus invested in Wells Fargo Bank, the company had positive fundamental and ESG profiles. Key Points. As part of a goal to cut about $2 billion in annual expenses by the end of 2018, Wells Fargo said it expects to close 200 branches this year and even more in 2018. u%84X@&%uKUd+j5&IQk^_6|. That is why the Paris Agreement's temperature goal of 1.5 C is often expressed as "net-zero greenhouse gas emissions by 2050.". Access ESG strategy, activities, performance, and reports. 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. 2021 Workforce profile (as of December 31, 2021). Looking at these statistics, one thing is clear: ESG is a critical must-do for all companies, regardless of size or industry. Wells Fargo & Co <WFC.N> Chief Executive Charles Scharf exasperated some Black employees in a Zoom meeting this summer when he reiterated that the bank had trouble reaching diversity goals because . Our approach to environmental and social issues is becoming increasingly integrated in the work we do across our business and is subject to the governance and oversight of our management and Board structures. (ESG) Report, ESG Goals and Performance Data, and Environmental and Social Risk Management. Investors have become increasingly interested in ESG issues. hUOeZK;V^c; Please enable JavaScript on your browser and refresh the page. Building a diverse pipeline of candidates for positions at all levels of the company, including leadership positions. 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. Investors have become increasingly interested in ESG issues. Based in Charlotte, NorthCarolina, Pich will report to Ken Kitkowski, head of Corporate Finance. By way of exception, usage is permitted only to the rated company, limited to a single reference of its own information in annual reporting and sustainability website, mentioning Sustainalytics as a source. Banks cannot do this alone together with government policies and investments, innovation, and collective action we can make progress towards the goals of the Paris Agreement and our own net-zero ambitions.. [Climate Bonds Initiative], 18. The bank is setting a goal of net zero greenhouse gas emissions . We see differences as an asset. ESG content includes: Stakeholder Capitalism Metrics developed by the International Business Council (IBC) of the World Economic Forum. 11 ESG goals and performance data. %%EOF This team is . p01XV8M1HV@l=+g~'D,L``^j8c WFC is headquartered in San Francisco, California, the US. In spite of all this, the research shows that companies are falling short of their ESG targets. Sources: Bloomberg and Wells Fargo Investment Institute, as of December 31, 2021. ESG offers numerous benefits, including reduced business risks, better financial performance, and higher returns on investment. 0 NMLSR ID 399801. Companies need to hold themselves accountable for improved performance over time. 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. As described in the Board's Corporate Governance Guidelines, the Board strongly considers diversity in evaluating director nominees. Wells Fargo is committed to aligning our activities to support the goals of the Paris Agreement and helping transition to a net-zero carbon economy. Business has an important role to play in advancing the transition to a low-carbon economy. It is almost entirely focused on the U.S. Today there are nearly 400 reporting provisions in the 80 countries included in the study. Copyright 2023 Sustainalytics. Once considered a niche market for the largest global companies, ESG has moved into the mainstream and been adopted by smaller, privately-owned companies as well. Im excited to coordinate existing ESG efforts and identify niche strategies and product opportunities for our clients across M&A, lending, and more. 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. EU Sustainable Finance Action Plan Solutions, Morningstar Sustainability Rating for Funds. S&P Global ESG Scores provide an unparalleled depth and breadth of ESG insight, built upon multiple layers of ESG data, and underpinned by a rich bedrock of underlying data intelligence captured by the S&P Global Corporate Sustainability Assessment (CSA).. Our scores provide transparency to drill down into material environmental, social and governance criteria scores for up to 30 focus areas . 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. 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. Past performance is no guarantee of future results. No of Employees 243,674. 1. One major takeaway from the research is the breadth of companies that are embracing ESG. 76% of consumers say they will stop buying from companies that treat the environment, employees, or the community in which they operate poorly [PwC], 9. But don't take our word for it. You can search by company name or ticker to view the ESG and climate risks and opportunities the company might face. 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. Unfortunately this company is not yet rated by Sustainalytics or no matches were found. Our diversity, equity, and inclusion strategy provides common direction and clear goals across Wells Fargo. Creating Specific, Measurable, Achievable . We are committed to conducting on-going pay equity reviews and continuing to enhance our processes. [Carrots and Sticks]. You are leaving newsroom.wf.com and entering a website that Wells Fargo does not control. 0 In early 2021, Wells Fargo announced a goal of aligning our business activities with the goals of the Paris Climate Agreement and achieving net- . Our management score assesses the robustness of a company's ESG programs, practices and policies. 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. Explore real stories about how were helping our communities thrive. View of city skyline and tree lined streets. Goals and reporting. Telephone 1 612 6671234. We're sorry, but some features of our site require JavaScript. Business has an important role to play in helping to address some of the most pressing environmental and social challenges of our time; whether helping address the racial wealth gap or advancing solutions and innovations needed for the low-carbon transition.