Learn about our environmental, social, and governance (ESG) strategy, activities, and performance through the disclosures below. These findings are from a recent Wells Fargo Investment Institute (WFII) report: Vision Investing: Values, Impact, and ESG (PDF). Learn More. Accelerate transition to a low-carbon economy to help reduce climate change impacts. ESG strategies can affect operating profits by as much as 60% [McKinsey], 13. 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. It is almost entirely focused on the U.S. Jul 2015 - Jun 20172 years. Nearly one out of five (18.5%) small and mid-caps are using ESG standards, such as the UN SDG, GRI, or SASB. To create accountability and measure progress, diversity, equity, and inclusion metrics are reported in the annual Diversity, Equity & Inclusion Report. 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. [PwC]. In 2019, Perillon became part of Lisam,a global leader in SDS/ChemicalManagement software, serving morethan 1,700 customers from 24 worldwidelocations. &06ZMI@v -%d`3_.D @ nK Plays a major role in shaping, sustaining, and driving the business development of the bank across 54 branches throughout the East Coast . [FactSet], 5. Access ESG strategy, activities, performance, and reports. Contact Information 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. 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. Wells Fargo has achieved carbon neutrality for Scope 1 and Scope 2 emissions for 2019 and 2020 operations, and we continue to leverage our annual energy spend to support the development of new renewable energy revenue, and grid resiliency in locations where our customers and employees live and work. EEO is the Law (PDF) 15. Between 2011 and 2016, approximately 5,300 employees were fired for fraudulent . Support clients or client activities that promote environmental sustainability. WellsFargo Corporate & Investment Banking delivers a comprehensive suite of capital markets, banking, and financial products and services. [Quoted Companies Alliance], 4. Email us at corporateresponsibility@wellsfargo.com. We provide links to external websites for your convenience. Our goal is to achieve net-zero greenhouse gas emissions by 2050, including financed emissions. 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. Copyright 2023 Sustainalytics. 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. Total Shareholder Return (1) (USD) 30 35 40 45 50 +61%. 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. 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. "Enterprises should improve data security and privacy controls to meet certain ESG disclosures," Hirth said. 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. View of city skyline and tree lined streets. Leverage Sustainalytics' ESG Risk Ratings to understand and promote your corporate ESG performance with internal and external stakeholders. Email corporateresponsibility@wellsfargo.com, 1999 - 2023 Wells Fargo. 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. Reducing our energy, water, and resource consumption and greenhouse gas emissions, Deploying sustainable building design, construction, and operations into our corporate properties, Engaging employees in environmental activities and leveraging their skills. 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. 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. Relevant military experience is considered for veterans and transitioning service men and women. Jeenah Moon for The New York Times. 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. Learn more about our efforts and progress related to sustainability. hb```"EVkB cc`aP`4`H [Deloitte], 17. I am also comfortable in using tools like Erwin Data Modeler, Power BI, SQL Developer and Alteryx. 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. 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. D&%`<0;D2HFH2:n`@go ?h Learn more about our Peer Performance Insights solution, Connect with us about an ESG Risk Rating License, Download our product brochure to learn about our product solutions. The number of ESG reporting provisions issued by governmental bodies has grown 74% over the last four years. ESG portfolios constructed using the ratings of two well-known ESG ratings providers yield large performance dispersion and low correlation of returns. It operates through branches, ATMs, and mobile and internet distribution channels globally. Based in Charlotte, NorthCarolina, Pich will report to Ken Kitkowski, head of Corporate Finance. Media [The Climate Pledge]. That's up from 84 closures in 2016. In 2021, the environmental, social, and governance (ESG) scores of the largest banks worldwide varied markedly across different score . Feb 2019 - Present4 years 2 months. Central to the digital infrastructure strategy is Wells Fargo's selection of two industry leaders as its public cloud providers: Microsoft Azure as its . 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. Its top executives say that because they . 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 . 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 . 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. [NAVEX Global], 24. 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. This team is . Wells Fargo does not endorse and is not responsible for their content, links, privacy, or security policies. 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.. p01XV8M1HV@l=+g~'D,L``^j8c 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). Table of Contents 2020 goals and progress 3 Diversity and inclusion 3 Economic empowerment 5 Environmental sustainability 6 Environmental, social, and governance (ESG) performance 4025 0 obj <> endobj ESG investments to grow market share and improve transparency . 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. "Being transparent about our approach to environmental and social governance issues and the risks associated with them helps . However, the following statistics prove that these efforts will pay off in the long run. 1013 0 obj <>stream 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. A summary of the study appeared in the publication's April 8 edition. 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 Annual Report. . 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. Wells Fargo is the latest big bank to embrace ambitious lending goals to fight the climate crisis. I am also a part of a non-profit organization . 71% of CEOs believe it is their personal responsibility to ensure that the organizations ESG policies reflect the values of their customers [KPMG], 23. Wells Fargo Company (NYSE: WFC) announced today its new digital infrastructure strategy, combining a multi-cloud approach with third-party data centers to drive technological speed, agility, and scalability for its customers and employees. Wells Fargo ranked No. [Business and Sustainable Development Commission], 10. Sources: Bloomberg and Wells Fargo Investment Institute, as of December 31, 2021. 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. Investors have become increasingly interested in ESG issues. Company Profile WFC. Unfortunately this company is not yet rated by Sustainalytics or no matches were found. Goals and Reporting. We are committed to conducting on-going pay equity reviews and continuing to enhance our processes. Today there are nearly 400 reporting provisions in the 80 countries included in the study. 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. endstream endobj startxref [NAVEX Global], 25. 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. 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. 0 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 . 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 . 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. 1999 - 2023 Wells Fargo. Creating Specific, Measurable, Achievable . tradingview no volume is provided by the data vendor. Environmental, social, and governance (ESG) investing is used to screen investments based on corporate policies and to encourage companies to act responsibly. All these benefits aside, one major reason ESG has taken off in the last few years has to do with investors. Setting the right ESG goals will help your company demonstrate your long-term business vision to your customers, investors, and other relevant stakeholders. Only 50% of companies believe their company performs very effectively against environment metrics. 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. Sustainability and Other Reporting. Key 2021 Highlights 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.