wells fargo esg goals and performance data

[NAVEX Global], 25. Media This public search tool displays only a subset of companies in our . (ESG) Report, ESG Goals and Performance Data, and Environmental and Social Risk Management. [Carrots and Sticks], 21. 1013 0 obj <>stream Learn about the Wells Fargo Institute for Sustainable Finance. 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. Climate-related weather events are expected to cost businesses $1.3 trillion by 2026 [CDP], 8. We've rounded up a list of 25 ESG statistics that show just how powerful and important this concept is. Reporting and disclosures. 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 . 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. 2749 0 obj <> endobj We value and promote diversity, equity, and inclusion in all aspects of business and at all levels. Categories include: socioeconomic advancement and empowerment, housing affordability, healthcare, and education. We define diversity as the unique combination of various dimensions that makes each of us different from and similar to others. (Photo: Wells Fargo) "Through the issuance of this second Sustainability Bond, Wells Fargo is . 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. 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. [Carrots and Sticks]. Website www.wellsfargo.com. 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. About WellsFargo 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. [PwC]. And rightly so: ESG has the potential to reduce costs, boost stock performance, and increase customer and employee loyalty among other things. Explore real stories about how were helping our communities thrive. 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. 0 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. [The Climate Pledge]. One former employee said she could not meet sales goals in any ethical way and called the Wells Fargo's ethics hotline. Additional information may be found atwww.wellsfargo.com | Twitter:@WellsFargo. NMLSR ID 399801. Identifying, assessing, and managing environmental and social impacts associated with our commercial clients and financings. Genevive brings extensive leadership experience and a passion for all aspects of ESG and we look forward to seeing her leadership and partnership across the CIB platform. [Clearwater Analytics]. ejbernacki@wellsfargo.com. Our management score assesses the robustness of a company's ESG programs, practices and policies. Clients are increasingly focused on ESG-related solutions to meet sustainability goals, said Rob Engel, head of Banking at WellsFargo. hbbd```b`` j""Yl5``! Michelle.Palomino@wellsfargo.com, Hannah Sloane, 3478025942 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. 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. 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. In April 2021, the Prince of Wales joined 40 banks worldwide in a working group called the . However, the following statistics prove that these efforts will pay off in the long run. NMLSR ID 399801. 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. Wells Fargo Community Impact. Goals and Reporting. Share. ESG Goals and Performance Data (PDF) . 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. 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). These data were collected in 2017 when Wells Fargo was in the middle of . "Being transparent about our approach to environmental and social governance issues and the risks associated with them helps . WellsFargo ranked No. Explore real stories about how were helping our communities thrive. We include both gender and race/ethnicity in our reviews. 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). In spite of all this, the research shows that companies are falling short of their ESG targets. 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. 22. 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 . 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. endstream endobj startxref You can sign up for additional alert options at any time. Our CEO chairs the IBC and partnered closely on the development of these . She was eventually fired. Sustainability and Other Reporting. Originally from Montral, Canada, Pich earned her bachelors degrees in economics and international studies from Macalester College in St. Paul, Minnesota. 30 on Fortunes 2020 rankings of Americas largest corporations. At Wells Fargo, we remain excited about the future of sustainable finance, the transformative impact it will continue to . This is the companys second Sustainability Bond and its first to include consumer financing of electric vehicles as a project category. ServiceNow. [FactSet], 5. 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. Wells Fargo . Additional sustainability news, insights and perspectives are available at WellsFargo Stories. ESG investments to grow market share and improve transparency . Im excited to coordinate existing ESG efforts and identify niche strategies and product opportunities for our clients across M&A, lending, and more. . Central to the digital infrastructure strategy is Wells Fargo's selection of two industry leaders as its public cloud providers: Microsoft Azure as its . The ESG Risk Ratings measure a company's exposure to industry-specific material ESG risks and how well a company is managing those risks. Sources: Bloomberg and Wells Fargo Investment Institute, as of December 31, 2021. Print. Environmental, social, and governance (ESG) reporting . Industrial & Commercial Bank of China Ltd. 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. Make sure all people feel respected and have equal access to resources and opportunities to succeed. Access ESG strategy, activities, performance, and reports. The creation of the ESG Solutions group is the latest in a series of recent of ESG-related initiatives at WellsFargo. Created supply chain sustainability strategy development across the Walt Disney Company, focused on Consumer Products and Parks and Resorts segments . We provide links to external websites for your convenience. The number of ESG reporting provisions issued by governmental bodies has grown 74% over the last four years. Learn More. Selecione Cancele para permanecer en esta pgina o Contine para ver nuestra pgina principal en espaol. Wells Fargo to Deploy Additional $500 Billion in Sustainable Finance by 2030. 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. Looking at these statistics, one thing is clear: ESG is a critical must-do for all companies, regardless of size or industry. You must click the activation link to complete your subscription. 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. Starbucks Stories - Stories to inspire and nurture the human spirit As described in the Board's Corporate Governance Guidelines, the Board strongly considers diversity in evaluating director nominees. "Enterprises should improve data security and privacy controls to meet certain ESG disclosures," Hirth said. Creating Specific, Measurable, Achievable . Pich will partner with the companys Social Impact and Sustainability team, Public Affairs, and other business segments across WellsFargo to help drive a holistic firm-wide response to evolving ESG opportunities. No of Employees 243,674. E.J. Past performance is no guarantee of future results. More than one in four S&P 500 companies that conducted earnings calls for Q4 2020 cited ESG. The company also . Highest Controversy level that has impacted Wells Fargo & Co.'s ESG Risk Rating in the last three years. 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. Explore how we're creating a more inclusive future in your neighborhood. 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 . Address 420 Montgomery St, San Francisco, California, 94104-1207. As part of our sustainability goals, Wells Fargo has committed to deploy $500 billion in sustainable . 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. Learn More. 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. (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. 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. 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. Goals and reporting. performance . 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. 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 Please enable JavaScript on your browser and refresh the page. Another reason for the rapid growth of ESG has to do with global mandates. 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 . hb```@(1QXp More information on sustainability at Wells Fargo can be found on Wells Fargo Stories. To opt in for email alerts, please enter your email address in the field below and select at least one alert option. 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. 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. Learn about our environmental, social, and governance (ESG) strategy, activities, and performance through the disclosures below. Access ESG strategy, activities, performance, and reports. There are many factors to take into consideration when choosing an investment portfolio and ESG data is only one component to potentially consider. The Institute will work with communities as they prepare for and adapt to changing weather-related impacts, and will advocate for policies that enable client transitions. ESG portfolios constructed using the ratings of two well-known ESG ratings providers yield large performance dispersion and low correlation of returns. We're taking an active role in addressing pressing societal challenges to drive positive impact. Based in Charlotte, NorthCarolina, Pich will report to Ken Kitkowski, head of Corporate Finance. >>> Next: ESG Is Not New, But It's The New Normal. Learn more about our approach to diversity, equity, and inclusion, goals, and performance. ESG-mandated assets could make up half of all professionally managed investments by 2025, totaling $35 trillion. %PDF-1.6 % Exposure refers to the extent to which a company is exposed to different material ESG issues. 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. Those dimensions can include but are not be limited to age, gender, ethnic heritage, race, physical or mental abilities, sexual orientation, values, religion/spiritual practice, income, family status, education, and geographic location. Introduction . 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. 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's execution on strategic priorities, including a continued focus on efficiency improvements, a recovering economy, and our ongoing work to put legacy issues behind us contributed to significantly improved year -over-year financial results. 0 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 A recent study conducted on behalf of Wells Fargo showed "large majorities" of respondents preferred digital modes to handle all their financial matters. [Business and Sustainable Development Commission], 10. The minimum account size for this program is $500. 3. Appointment reflects surge in client demand for ESG products and services. You can search by company name or ticker to view the ESG and climate risks and opportunities the company might face. Creating solutions to pressing societal challenges. It operates through branches, ATMs, and mobile and internet distribution channels globally. After submitting your request, you will receive an activation email at the requested email address. Email us at corporateresponsibility@wellsfargo.com. More than half of investors are interested in sustainable investing, and sustainable investments have grown 30-fold since 2010. Email corporateresponsibility@wellsfargo.com, 1999 - 2023 Wells Fargo. Leverage Sustainalytics' ESG Risk Ratings to understand and promote your corporate ESG performance with internal and external stakeholders. 2021 Annual Report. Please enable JavaScript on your browser and refresh the page. Naveg a una pgina que no est disponible en espaol en este momento. Investing with impact is the practice of using investments to generate identifiable and measurable positive impact in additional to financial returns. 6. Organizations with the highest employee satisfaction had ESG scores 14% higher than the global average, likely due to their strong environmental performance [Marsh & McLennan], 14. Contact Information In 2019, Perillon became part of Lisam,a global leader in SDS/ChemicalManagement software, serving morethan 1,700 customers from 24 worldwidelocations. Business has an important role to play in advancing the transition to a low-carbon economy. Media You are leaving newsroom.wf.com and entering a website that Wells Fargo does not control. 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. Bernacki, 4158233523 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. Diversity, equity, and inclusion leaders across the company help to strategically implement inclusive practices and behaviors. p01XV8M1HV@l=+g~'D,L``^j8c 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. Between 2011 and 2016, approximately 5,300 employees were fired for fraudulent . u%84X@&%uKUd+j5&IQk^_6|. Learn more about our efforts and progress related to sustainability. Companies need to hold themselves accountable for improved performance over time. March 9, 2021 by Emily Holbrook. When Parnassus invested in Wells Fargo Bank, the company had positive fundamental and ESG profiles. One major takeaway from the research is the breadth of companies that are embracing ESG. We're leveraging our relationships and collaborating with our stakeholders on a number of initiatives to transition to a low-carbon, climate-resilient future, including: As part of our sustainability goals, Wells Fargo has committed to deploy $500 billion in sustainable finance between 2021 and 2030. It's important to understand ESG data and engagement before making investment choices. Wells Fargo ranked No. 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. Its top executives say that because they . 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. ESG Report, and 2020 ESG Goals and Performance Data are available . 4025 0 obj <> endobj The company is split into four primary segments . Nearly one out of five (18.5%) small and mid-caps are using ESG standards, such as the UN SDG, GRI, or SASB. 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. Building a diverse pipeline of candidates for positions at all levels of the company, including leadership positions. That's about to change. Wells Fargo Sustainability Bond Framework . Flexible work arrangements allow employees to select beginning and ending work times within a range of hours surrounding core operating hours of the business. . . Hannah.Sloane@wellsfargo.com. 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. We prioritize the ESG issues that offer the greatest potential for Walmart to create shared value. That is why the Paris Agreement's temperature goal of 1.5 C is often expressed as "net-zero greenhouse gas emissions by 2050.". Material ESG issues are issues that are considered to be financially material to a given company in a relevant sub-industry. 4474 0 obj <>stream Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. 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. 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. Investors have become increasingly interested in ESG issues. 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. We see differences as an asset. Total Shareholder Return (1) (USD) 30 35 40 45 50 +61%. 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. 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. 11 ESG goals and performance data. 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 . Headquarters United States of America. %PDF-1.7 % Reflecting this trend, we took the decision to integrate our ESG report into the 2021 Barclays PLC Annual Report. 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. 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.