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We're taking an active role in addressing pressing societal challenges to drive positive impact. We're sorry, but some features of our site require JavaScript. "They need to be prepared for disclosure of data breaches in accordance with Sustainability Accounting Standards Board standards for specific industries." 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. NMLSR ID 399801, 45% of our U.S. workforce is ethnically/racially diverse, 8,072 veteran employees in the U.S. (self-identified). In 2019, Perillon became part of Lisam,a global leader in SDS/ChemicalManagement software, serving morethan 1,700 customers from 24 worldwidelocations. Only 50% of companies believe their company performs very effectively against environment metrics. 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. Learn about the Wells Fargo Institute for Sustainable Finance. 85% of asset managers say ESG is a high priority for their companies, but 64% were concerned about a lack of transparency and corporate disclosure on firms' ESG activities [Index Industry Association], 19. A lack of data availability and, more specifically, siloed data keeps companies from reaching their goals. Mark Segal March 8, 2021. Please enable JavaScript on your browser and refresh the page. We're sorry, but some features of our site require JavaScript. LifeSync offers "one cohesive approach to goal tracking for clients regardless of their level of wealth or stage in life", says Michelle Moore, head of consumer and wealth and . 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. Our CEO chairs the IBC and partnered closely on the development of these . ERNs are dedicated to helping employees with professional growth and education, community outreach, business development, and customer insight. Sustainability. 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. 2749 0 obj <> endobj 02:46. 2766 0 obj <>stream 11 ESG goals and performance data. 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. 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. Wells Fargo Sustainability Bond Framework . View of city skyline and tree lined streets. 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. A Wells Fargo & Co. sign sits on display outside the company's offices in San Francisco, California, U.S., on Tuesday, April 27, 2010. Environmental and social impact management (PDF), Environmental, social, and governance (ESG) reporting. More than one in four S&P 500 companies that conducted earnings calls for Q4 2020 cited ESG. WellsFargo 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. 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. The creation of the ESG Solutions group is the latest in a series of recent of ESG-related initiatives at WellsFargo. Environmental, social, and governance (ESG) investing is used to screen investments based on corporate policies and to encourage companies to act responsibly. It is almost entirely focused on the U.S. In early 2021, Wells Fargo announced a goal of aligning our business activities with the goals of the Paris Climate Agreement and achieving net- . [The Climate Pledge]. With more than nine out of ten publicly traded companies adopting ESG, it's one of the biggest trends in the business world today. (Photo: Wells Fargo) "Through the issuance of this second Sustainability Bond, Wells Fargo is . Wells Fargo's net-zero . To opt in for email alerts, please enter your email address in the field below and select at least one alert option. Meeting the increasingly diverse needs of Wells Fargo's global customer base is critical for our company's long-term growth and success. Serve excluded, under-served, or marginalized people or communities. E.J. 4025 0 obj <> endobj You must click the activation link to complete your subscription. %PDF-1.6 % This kind of focus by Wells Fargo can be characterized as unethical and illegal which created a sense of doubt among the regulators, manpower, and . 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 . Central to the digital infrastructure strategy is Wells Fargo's selection of two industry leaders as its public cloud providers: Microsoft Azure as its . 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. Numbers may differ from other Wells Fargo reports that count employees based on full-time equivalent methodology. Promoting diversity, equity, and inclusion awareness through education and training. 53% of revenues of the 500 largest US companies and 49% of revenues of the 1,200 largest global companies come from business activities that support SDGs [S&P Global], 11. Climate-related weather events are expected to cost businesses $1.3 trillion by 2026 [CDP], 8. Compare Wells Fargo & Co. with other industry peers. 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. Goals and reporting. Please enable JavaScript on your browser and refresh the page. 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). The company also . One former employee said she could not meet sales goals in any ethical way and called the Wells Fargo's ethics hotline. The company is split into four primary segments . 4474 0 obj <>stream Back in July 2020, I penned an article on RedState titled "Wells Fargo Risks Reputation Over Private "Chokepoint" Policy Against Gun Industry," noting that the bank was under scrutiny that it might be changing its stance on accounts with the firearms industry to follow the policies of what is known in policy circles as a privatized version of the discredited government initiative known . 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 . March 9, 2021 by Emily Holbrook. Throughout this document you will see the following callout to indicate where information about performance Opportunity.