ESG offers numerous benefits, including reduced business risks, better financial performance, and higher returns on investment. u%84X@&%uKUd+j5&IQk^_6|. Plays a major role in shaping, sustaining, and driving the business development of the bank across 54 branches throughout the East Coast . 22. Compare Wells Fargo & Co. with other industry peers. 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. %%EOF ESG portfolios constructed using the ratings of two well-known ESG ratings providers yield large performance dispersion and low correlation of returns. Make sure all people feel respected and have equal access to resources and opportunities to succeed. 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. . 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 . Performance data quoted represent past performance and are no guarantee of . Wells Fargo 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 . To create accountability and measure progress, diversity, equity, and inclusion metrics are reported in the annual Diversity, Equity & Inclusion Report. 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. Contact Information Past performance is no guarantee of future results. 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 . A recent study conducted on behalf of Wells Fargo showed "large majorities" of respondents preferred digital modes to handle all their financial matters. Sustainability and Other Reporting. We are committed to conducting on-going pay equity reviews and continuing to enhance our processes. Jul 2015 - Jun 20172 years. News, insights and perspectives from Wells Fargo are also available at WellsFargo Stories. You are leaving newsroom.wf.com and entering a website that Wells Fargo does not control. Sources: Bloomberg and Wells Fargo Investment Institute, as of December 31, 2021. Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services to individuals . Wells Fargo Joins Net-Zero Banking Alliance. 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. Unfortunately this company is not yet rated by Sustainalytics or no matches were found. 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. Appointment reflects surge in client demand for ESG products and services. Please enable JavaScript on your browser and refresh the page. D&%`<0;D2HFH2:n`@go ?h Our Environmental, Social and Governance (ESG) commitments are not separate layers of our business, but core to who we are. But don't take our word for it. 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. 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. We have a terrific opportunity to bring solutions to our clients that will help them achieve future growth and an enhanced market position, said Pich. %PDF-1.7 % %PDF-1.6 % 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. ESG strategies can affect operating profits by as much as 60% [McKinsey], 13. 6. Explore real stories about how were helping our communities thrive. Wells Fargo does not endorse and is not responsible for their content, links, privacy, or security policies. 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 . Climate change is one of the most urgent environmental and social issues of our time. ESG-mandated assets could make up half of all professionally managed investments by 2025, totaling $35 trillion. 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. 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. In March of 2021, Wells Fargo set a goal of netzero greenhouse gas emissions by 2050, including client emissions attributable to its financing; committed to set targets for interim financed emission targets for the Oil & Gas and Power sectors by the end of 2022; and reset its sustainable finance commitment to $500 billion between 2021 and 2030. Material ESG issues are issues that are considered to be financially material to a given company in a relevant sub-industry. Florida, United States. 15. Setting the right ESG goals will help your company demonstrate your long-term business vision to your customers, investors, and other relevant stakeholders. More than three out of four (77%) small and mid-caps have a formal purpose statement related to ESG. Based in Charlotte, NorthCarolina, Pich will report to Ken Kitkowski, head of Corporate Finance. Please carefully review the Wells Fargo Advisors advisory disclosure document for a full description of our services. You must click the activation link to complete your subscription. 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. 71% of CEOs believe it is their personal responsibility to ensure that the organizations ESG policies reflect the values of their customers [KPMG], 23. Promoting diversity, equity, and inclusion awareness through education and training. 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. [Business and Sustainable Development Commission], 10. We see differences as an asset. Its top executives say that because they . Environmental and social impact management (PDF), Environmental, social, and governance (ESG) reporting. performance . Additional information may be found atwww.wellsfargo.com | Twitter:@WellsFargo. ESG content includes: Stakeholder Capitalism Metrics developed by the International Business Council (IBC) of the World Economic Forum. Telephone 1 612 6671234. 2021 Annual Report. 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). 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 . This is the companys second Sustainability Bond and its first to include consumer financing of electric vehicles as a project category. 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 . We provide links to external websites for your convenience. ESG Report, and 2020 ESG Goals and Performance Data are available . Our management score assesses the robustness of a company's ESG programs, practices and policies. Copyright 2023 Sustainalytics. Print. 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.. 1013 0 obj <>stream 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 [email protected]. Another reason for the rapid growth of ESG has to do with global mandates. You are leaving wellsfargo.com and entering a website that Wells Fargo does not control. We've rounded up a list of 25 ESG statistics that show just how powerful and important this concept is. The company also . destiny 2 all black shader hunter; josh aloiai wife; optimum suite mack industries 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. You can sign up for additional alert options at any time. 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. She was eventually fired. Numbers may differ from other Wells Fargo reports that count employees based on full-time equivalent methodology. WellsFargo Corporate & Investment Banking delivers a comprehensive suite of capital markets, banking, and financial products and services. Learn about the Wells Fargo CO2eMission to help drive down greenhouse gas emissions to net zero by 2050. Our goal is to achieve net-zero greenhouse gas emissions by 2050, including financed emissions. Our diversity, equity, and inclusion strategy provides common direction and clear goals across Wells Fargo. [email protected]. More than one in four S&P 500 companies that conducted earnings calls for Q4 2020 cited ESG. We conduct an objective, statistical pay equity analysis annually. Relevant military experience is considered for veterans and transitioning service men and women. These data were collected in 2017 when Wells Fargo was in the middle of . 4025 0 obj <> endobj Our exposure score takes into consideration subindustry and company-specific factors such as its business model. These findings are from a recent Wells Fargo Investment Institute (WFII) report: Vision Investing: Values, Impact, and ESG (PDF). 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. 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. The company is split into four primary segments . Please enable JavaScript on your browser and refresh the page. Why is diversity, equity, and inclusion important to Wells Fargo? Wells Fargo & Co.'s Management of ESG Material Risk is Average. Bernacki, 4158233523 Email [email protected], 1999 - 2023 Wells Fargo. 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. We prioritize the ESG issues that offer the greatest potential for Walmart to create shared value. Our reports and statements on sustainability, conduct, and more can be . Bank of America, in April, for example, more than tripled its environmental financing goal, saying it wants to deploy more than $1 trillion by 2030 to accelerate the transition toward a low-carbon, sustainable future.