Wells Fargo to Deploy Additional $500 Billion in Sustainable Finance by 2030. Environmental, social, and governance (ESG) reporting . You are leaving newsroom.wf.com and entering a website that Wells Fargo does not control. %PDF-1.6 % Learn More. hUOeZK;V^c; 4040 0 obj <>/Filter/FlateDecode/ID[<9E1E71D3FFAF43C483EF1BC13188BE55><261203C3A3546A4F92C4B1EC7B5B117F>]/Index[4025 450]/Info 4024 0 R/Length 109/Prev 852551/Root 4026 0 R/Size 4475/Type/XRef/W[1 2 1]>>stream %PDF-1.6 % Meeting the increasingly diverse needs of Wells Fargos global customer base is critical for our companys long-term growth and success. 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 . Our office locations span the Americas, Europe, and Asia-Pacific. That's about to change. 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. In a study commissioned by Financial Times' Agenda , stock-ratings firm HIP Investor rated Wells Fargo among the most transparent companies on environmental, social, and governance (ESG) metrics. It's important to understand ESG data and engagement before making investment choices. 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. Seleccione el enlace si desea ver otro contenido en espaol. . ESG content includes: Stakeholder Capitalism Metrics developed by the International Business Council (IBC) of the World Economic Forum. In August 2020, the company released its first ESG Report and ESG Goals and Performance Data as part of a larger effort to move from a single, annual Corporate Responsibility Report to a suite of disclosures that more completely address WellsFargos approach to ESG risks and opportunities, and performance on ESG measures. 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 . &06ZMI@v -%d`3_.D @ nK Explore real stories about how were helping our communities thrive. But don't take our word for it. 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. 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 . Accelerate transition to a low-carbon economy to help reduce climate change impacts. Plays a major role in shaping, sustaining, and driving the business development of the bank across 54 branches throughout the East Coast . 15. (Photo: Wells Fargo) "Through the issuance of this second Sustainability Bond, Wells Fargo is . Michelle.Palomino@wellsfargo.com, Hannah Sloane, 3478025942 Setting the right ESG goals will help your company demonstrate your long-term business vision to your customers, investors, and other relevant stakeholders. Wells Fargo is the latest big bank to embrace ambitious lending goals to fight the climate crisis. Categories include: renewable energy, energy-efficiency, green buildings, and clean transportation. endstream endobj startxref Numbers may differ from other Wells Fargo reports that count employees based on full-time equivalent methodology. Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. ESG-mandated assets could make up half of all professionally managed investments by 2025, totaling $35 trillion. Wells Fargo is committed to working with nonprofits to build a more inclusive, sustainable future for all. [Clearwater Analytics]. 22. Key 2021 Highlights Climate-related weather events are expected to cost businesses $1.3 trillion by 2026 [CDP], 8. The research shows that more countries are requiring companies to disclose their ESG performance in one format or another. Step 3 - Familiarize yourself with and set SMART goals. 11 ESG goals and performance data. Reflecting this trend, we took the decision to integrate our ESG report into the 2021 Barclays PLC Annual Report. Our exposure score takes into consideration subindustry and company-specific factors such as its business model. 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. We're sorry, but some features of our site require JavaScript. 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. Climate change is one of the most urgent environmental and social issues of our time. Jeenah Moon for The New York Times. Goals and Reporting. Serve excluded, under-served, or marginalized people or communities. Wells Fargo & Company is a leading financial services company that has approximately $1.9 trillion in assets and proudly serves one in three U.S. households and more than 10% of all middle market companies in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management. 1013 0 obj <>stream Wells Fargo is the latest big bank to issue a sustainability bond, working with diverse firms to raise $1 billion for investments in projects such as renewable energy and affordable housing. ESG factors are often interlinked, and it can be challenging to classify an ESG issue as only an environmental, social, or governance issue, as shown in the example below. Together, Perillon and Lisam provide the most intuitive and the easiest-to-implement modern cloud platform for industrial corporations, setting the standard for how corporate leaders efficiently meet new Environmental, Social and Governance (ESG) goals. 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. 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. 0 . Environmental, social, and governance (ESG) reporting. The company is split into four primary segments . We prioritize the ESG issues that offer the greatest potential for Walmart to create shared value. In 2021, the environmental, social, and governance (ESG) scores of the largest banks worldwide varied markedly across different score . 02:46. After submitting your request, you will receive an activation email at the requested email address. 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. Wells Fargo & Co.'s Management of ESG Material Risk is Average. performance . 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. hb```"EVkB cc`aP`4`H A summary of the study appeared in the publication's April 8 edition. Our management score assesses the robustness of a company's ESG programs, practices and policies. 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. 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. 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. 20. 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. Learn more about our efforts and progress related to sustainability. Open to all employees, Wells Fargo's 10 Employee Resource Networks (ERNs) are organized by individuals connected by a shared background, experience, or other affinity. Explore how we're creating a more inclusive future in your neighborhood. Notice: The information provided is for informational, non-commercial purposes only, does not constitute investment advice and is subject to conditions available in our Legal Disclaimer. Reporting and disclosures. Key Points. Leverage Sustainalytics' ESG Risk Ratings to understand and promote your corporate ESG performance with internal and external stakeholders. Companies need to hold themselves accountable for improved performance over time. 72% of European asset owners that receive ESG-related reports from asset managers would prefer to standardize reports across managers, yet only 18% are currently able to do so.
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