"They need to be prepared for disclosure of data breaches in accordance with Sustainability Accounting Standards Board standards for specific industries." 2021 Workforce profile (as of December 31, 2021). 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. 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. Success comes from inviting and incorporating diverse perspectives. 0 [Deloitte], 17. Wells Fargo is committed to working with nonprofits to build a more inclusive, sustainable future for all. 6. All these benefits aside, one major reason ESG has taken off in the last few years has to do with investors. Explore real stories about how were helping our communities thrive. Address 420 Montgomery St, San Francisco, California, 94104-1207. endstream endobj startxref Our purpose is to advance sustainable economic growth and financial opportunity. 71% of CEOs believe it is their personal responsibility to ensure that the organizations ESG policies reflect the values of their customers [KPMG], 23. D&%`<0;D2HFH2:n`@go ?h Looking at these statistics, one thing is clear: ESG is a critical must-do for all companies, regardless of size or industry. Website www.wellsfargo.com. Understand how exposed companies are to specific material ESG issues and how well companies are managing these issues. Explore real stories about how were helping our communities thrive. endstream endobj startxref performance . 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. 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. Our exposure score takes into consideration subindustry and company-specific factors such as its business model. "Sustainability u%84X@&%uKUd+j5&IQk^_6|. 02:46. 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. EEO is the Law (PDF) Nearly one out of five (18.5%) small and mid-caps are using ESG standards, such as the UN SDG, GRI, or SASB. %PDF-1.7 % Sustainalytics' Peer Performance Insights gives an in-depth analysis of your company's ESG strengths and weaknesses compared to your competitors and industry performance. 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. 27% of revenues of the 500 largest US companies and 31% of revenues generated of the 1,200 largest global companies come from activities aligned with the EU Taxonomy for Sustainable Activities [S&P Global], 12. A seasoned banker, Pich has spent the past 20 years at WellsFargo, most recently leading the Asset Management coverage team in CIB. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran. These data were collected in 2017 when Wells Fargo was in the middle of . Company Profile WFC. You must click the activation link to complete your subscription. NMLSR ID 399801. Based on our pay equity reviews, we take appropriate actions so that our employees continue to be paid fairly and equitably. Wells Fargo has agreed to pay $3 billion to settle criminal charges and a civil action stemming from its widespread mistreatment of customers in its community . Table of Contents 2020 goals and progress 3 Diversity and inclusion 3 Economic empowerment 5 Environmental sustainability 6 Environmental, social, and governance (ESG) performance To opt in for email alerts, please enter your email address in the field below and select at least one alert option. The company has a ESG Pulse of 0.52 which is calculated using alternative data outside of company disclosure to provide an 'outside-in' view on company ESG performance. [Quoted Companies Alliance]3. Material ESG issues are issues that are considered to be financially material to a given company in a relevant sub-industry. Florida, United States. To create accountability and measure progress, diversity, equity, and inclusion metrics are reported in the annual Diversity, Equity & Inclusion Report. Goals and reporting. 0 We disclose our ESG strategy, policies and practices in our Annual Report and Proxy Statement. In 2021, the environmental, social, and governance (ESG) scores of the largest banks worldwide varied markedly across different score . Share. Michelle.Palomino@wellsfargo.com, Hannah Sloane, 3478025942 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. Our goal is to achieve net-zero greenhouse gas emissions by 2050, including financed emissions. endstream endobj startxref Creating solutions to pressing societal challenges. We focus on three areas: To implement diversity, equity, and inclusion in every aspect of our business, we collaborate with key internal partners including Human Resources, Public Affairs, Marketing, and Corporate Communications. News, insights and perspectives from Wells Fargo are also available at WellsFargo Stories. Wells Fargo has spent years publicly apologizing for deceiving customers with fake bank accounts, unwarranted fees and unwanted products. 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. 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. Wells Fargo Sustainability Bond Framework . . Between 2011 and 2016, approximately 5,300 employees were fired for fraudulent . [PwC]. We are proud to join so many other banks in this important alliance., As a financial institution serving many sectors of the economy, we acknowledge our role in deploying resources and working closely with our clients to support their respective low-carbon transitions, Hurst continued. Its top executives say that because they . . That's up from 84 closures in 2016. Building a diverse pipeline of candidates for positions at all levels of the company, including leadership positions. 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. Opportunity. More than three out of four (77%) small and mid-caps have a formal purpose statement related to ESG. To attract and retain talented employees, Wells Fargo offers a total compensation package, including salary, benefits, and incentive pay opportunities, that is competitive with those offered by our key competitors in the businesses and markets where we operate. We're taking an active role in addressing pressing societal challenges to drive positive impact. 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. 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 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 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. As described in the Board's Corporate Governance Guidelines, the Board strongly considers diversity in evaluating director nominees. Learn about our environmental, social, and governance (ESG) strategy, activities, and performance through the disclosures below. Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. 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. Hannah.Sloane@wellsfargo.com. Wells Fargo is the latest big bank to embrace ambitious lending goals to fight the climate crisis. 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. 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. New York CNN Business . You can search by company name or ticker to view the ESG and climate risks and opportunities the company might face. hb```@(1QXp But don't take our word for it. We are using our resources as a global bank to help address society's greatest challenges, including championing pay equity, addressing the racial wealth gap, increasing economic mobility and confronting the climate crisis. This represents a 63% increase in ESG mentions from the previous quarter, and the highest number of ESG mentions in the last ten years. Learn More. A "net-zero greenhouse gas emissions by 2050" goal is grounded in an effort to limit the Earth's average temperature rise to no more than 1.5 C above pre-industrial levels. Telephone 1 612 6671234. 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. hk\GJaXBQ/z^A6R{O9Yy3n^e7.f)~y`)#D)RePSbkXs8]J!mcb)}-vw^z.Wzv}v}{s?\?y}?=~v?/_xakgjj/~_mko(oncAN9/to^={zuW't a>q~9?S~1CJl51CcNb[B=z(^PC8pe?qCj8c}p Banks and lenders can use our ESG Risk Ratings and data as a part of a broader analysis of their clients as well as for innovative product solutions such as sustainability linked loans. 2766 0 obj <>stream Sustainalytics' Peer Performance Insights gives an in-depth analysis of your company's ESG strengths and weaknesses compared to your competitors and industry performance. [Quoted Companies Alliance], 4. @F,qtS "3rTUZ7qG;,,{\{N$tux~G9\1pFp=CTE.t4$ `ch3 pHt`h``h zAn`RL2y %. 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. [NAVEX Global], 25. Jul 2015 - Jun 20172 years. Explore how we're creating a more inclusive future in your neighborhood. 11 ESG goals and performance data. . The results of the review are shared with our Boards Human Resources Committee. Email us at corporateresponsibility@wellsfargo.com, 1999 - 2023 Wells Fargo. 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. She was eventually fired. 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. That is why the Paris Agreement's temperature goal of 1.5 C is often expressed as "net-zero greenhouse gas emissions by 2050.". After submitting your request, you will receive an activation email at the requested email address. WFC is headquartered in San Francisco, California, the US. And rightly so: ESG has the potential to reduce costs, boost stock performance, and increase customer and employee loyalty among other things. Compare Wells Fargo & Co. with other industry peers. 1013 0 obj <>stream Creating solutions that protect the environment and grow the economy. Wells Fargo ranked No. We conduct an objective, statistical pay equity analysis annually. 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. We believe the scale and reach of our business and our approach to ESG matters helps . Email us at corporateresponsibility@wellsfargo.com. 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 . 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. Reporting and disclosures. Wells Fargo Joins Net-Zero Banking Alliance. Originally from Montral, Canada, Pich earned her bachelors degrees in economics and international studies from Macalester College in St. Paul, Minnesota. Step 3 - Familiarize yourself with and set SMART goals. EU Sustainable Finance Action Plan Solutions, Morningstar Sustainability Rating for Funds. 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 . 30 on Fortunes 2020 rankings of Americas largest corporations. ESG strategies can affect operating profits by as much as 60% [McKinsey], 13. Environmental, social, and governance (ESG) reporting. 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. To opt in for email alerts, please enter your email address in the field below and select at least one alert option. 2749 0 obj <> endobj More than one in four S&P 500 companies that conducted earnings calls for Q4 2020 cited ESG. 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 . 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. ESG Goals and Performance Data (PDF) . Fintech and turnkey asset management platform Orion Advisor Solution is launching an on-demand education dashboard that allows advisors to learn strategies for improving and growing their business . At Wells Fargo, we remain excited about the future of sustainable finance, the transformative impact it will continue to . [Carrots and Sticks], 21. Only 50% of companies believe their company performs very effectively against environment metrics. Diversity, equity, and inclusion leaders across the company help to strategically implement inclusive practices and behaviors. All Rights Reserved. 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. 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. Seleccione el enlace si desea ver otro contenido en espaol. Strengthen financial education and economic opportunities in underserved communities. 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. %%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. Our diversity, equity, and inclusion strategy provides common direction and clear goals across Wells Fargo. 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. 0 March 9, 2019. Additional sustainability news, insights and perspectives are available at WellsFargo Stories. Please enable JavaScript on your browser and refresh the page. You can sign up for additional alert options at any time. Environmental and social impact management. Categories include: renewable energy, energy-efficiency, green buildings, and clean transportation. Starbucks Stories - Stories to inspire and nurture the human spirit 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 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). Were taking an active role in addressing pressing societal challenges to drive positive impact. Investors have become increasingly interested in ESG issues. 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. [NAVEX Global], 2. Serve excluded, under-served, or marginalized people or communities. Business has an important role to play in advancing the transition to a low-carbon economy. 4 Within the underlying E, S, and G dimensions, the sustainable counterpart to the S&P 500 . Access ESG strategy, activities, performance, and reports. More than 200 companies have signed The Climate Pledge, a pact to reach the Paris Agreement goal of net zero carbon 10 years early. Environmental, social, and governance (ESG) reporting . 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 Wells Fargo's approach to ESG risks and opportunities, and performance on ESG measures. ESG content includes: Stakeholder Capitalism Metrics developed by the International Business Council (IBC) of the World Economic Forum. Worse, only 39% believe their company performs well for governance, and 37% for social issues. Past performance is no guarantee of future results. That's about to change. Wells Fargo to Deploy Additional $500 Billion in Sustainable Finance by 2030. The company also . The creation of the ESG Solutions group is the latest in a series of recent of ESG-related initiatives at WellsFargo. HW0T4*2~^ro}*;vpYkC10ht400(ut QL@d-+d10~"@,vD ?~? A Wells Fargo & Co. sign sits on display outside the company's offices in San Francisco, California, U.S., on Tuesday, April 27, 2010. Meeting the increasingly diverse needs of Wells Fargos global customer base is critical for our companys long-term growth and success. Flexible work arrangements allow employees to select beginning and ending work times within a range of hours surrounding core operating hours of the business. Gender, race, and ethnic diversity have been, and will continue to be, a priority for the Board and its GNC in its director nomination process because the GNC and the Board believe that it is essential that the composition of the Board appropriately reflects the diversity of the Companys employees and the customers and communities they serve. These findings are from a recent Wells Fargo Investment Institute (WFII) report: Vision Investing: Values, Impact, and ESG (PDF). . Learn more about our efforts and progress related to sustainability. One former employee said she could not meet sales goals in any ethical way and called the Wells Fargo's ethics hotline. EEO Supplemental Information (PDF), 1999 - 2023 Wells Fargo. Numbers may differ from other Wells Fargo reports that count employees based on full-time equivalent methodology. Headquarters United States of America. 6Cn[j8lWbhZ064khzfn4agiU^U6dOFJ)w*AMoc]ccUJ6T.uk#_=u'r~o',oI/-@$` UVi:yaoonv}^ gn-:]5 ZinQw_W~=y/b=Aeo}vc@R6trCWXyz;#]!g#0FFa7jh61t:R;q4rOC"=XZ)F30h6;q{M*IDX 5gl GsAjj. Selecione Cancele para permanecer en esta pgina o Contine para ver nuestra pgina principal en espaol. 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 . 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. The NZBA recognizes the vital role of banks in supporting clients in their net-zero transitions and working with governments to deliver on their decarbonization policies and pledges. We provide links to external websites for your convenience. We've rounded up a list of 25 ESG statistics that show just how powerful and important this concept is. Plays a major role in shaping, sustaining, and driving the business development of the bank across 54 branches throughout the East Coast . &06ZMI@v -%d`3_.D @ nK Genevive Pich Leads Banking Environmental, Social and Governance (ESG) Solutions in Corporate & Investment Banking, Genevive Pich to lead Banking Environmental, Social and Governance (ESG) Solutions. Putting the United Nations Sustainable Development Goals (SDGs) the leading ESG framework for large companies at the center of the worlds economic strategy could unlock $12 trillion a year in opportunities and generate 380 million jobs. 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. 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. 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. We're sorry, but some features of our site require JavaScript. Jeenah Moon for The New York Times. 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 As our CEO Charlie Scharf shared when we announced our net-zero goal, climate change is one of the most urgent environmental and social issues of our time, and the risks of inaction are too great to ignore, said Nate Hurst, head of Social Impact & Sustainability for WellsFargo. Copyright 2023 Sustainalytics. We're sorry, but some features of our site require JavaScript. 37 on Fortunes 2021 rankings of Americas largest corporations. No of Employees 243,674. We prioritize the ESG issues that offer the greatest potential for Walmart to create shared value. (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. 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 .
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