wells fargo esg goals and performance data

But don't take our word for it. More than half of investors are interested in sustainable investing, and sustainable investments have grown 30-fold since 2010. 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. 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. Embarking on a formal ESG journey is no small feat. Seleccione el enlace si desea ver otro contenido en espaol. >>> Next: ESG Is Not New, But It's The New Normal. More than one in four S&P 500 companies that conducted earnings calls for Q4 2020 cited ESG. Sustainability and Other Reporting. 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. D&%`<0;D2HFH2:n`@go ?h This includes financial products and services that: In 2021, we launched the Wells Fargo Institute for Sustainable Finance to help deploy financing to sustainable businesses and projects and to support science-based research on low carbon solutions. The results of the review are shared with our Boards Human Resources Committee. (pCG!aAT News, insights and perspectives from Wells Fargo are also available at WellsFargo Stories. I am also a part of a non-profit organization . To create accountability and measure progress, diversity, equity, and inclusion metrics are reported in the annual Diversity, Equity & Inclusion Report. Additional sustainability news, insights and perspectives are available at WellsFargo Stories. Wells Fargo today announced it has joined the Net-Zero Banking Alliance (NZBA), an industry-led leadership group designed to foster collaboration and support banks in aligning their financing with the goal of achieving net-zero greenhouse gas (GHG) emissions by mid-century. She was eventually fired. You are leaving newsroom.wf.com and entering a website that Wells Fargo does not control. 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. We conduct an objective, statistical pay equity analysis annually. 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. 15. To opt in for email alerts, please enter your email address in the field below and select at least one alert option. Appointment reflects surge in client demand for ESG products and services. endstream endobj startxref Company Profile WFC. 3. EU Sustainable Finance Action Plan Solutions, Morningstar Sustainability Rating for Funds. More than three out of four (77%) small and mid-caps have a formal purpose statement related to ESG. Investors have become increasingly interested in ESG issues. Telephone 1 612 6671234. We provide links to external websites for your convenience. Reflecting this trend, we took the decision to integrate our ESG report into the 2021 Barclays PLC Annual Report. Seleccione el enlace si desea ver otro contenido en espaol. Website www.wellsfargo.com. The number of ESG reporting provisions issued by governmental bodies has grown 74% over the last four years. Identifying, assessing, and managing environmental and social impacts associated with our commercial clients and financings. hbbd```b`` j""Yl5``! ESG-mandated assets could make up half of all professionally managed investments by 2025, totaling $35 trillion. 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 . Sustainability. 2021 Workforce profile (as of December 31, 2021). Investors have become increasingly interested in ESG issues. Bernacki, 4158233523 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. 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. 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. 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 . Only 50% of companies believe their company performs very effectively against environment metrics. Wells Fargo is committed to fair and equitable compensation practices and we regularly review our compensation programs and practices for pay equity. All these benefits aside, one major reason ESG has taken off in the last few years has to do with investors. %%EOF ESG Report, and 2020 ESG Goals and Performance Data are available . Numbers may difer from other Wells Fargo reports that count employees based on full-time equivalent methodology. E.J. Wells Fargo is committed to working with nonprofits to build a more inclusive, sustainable future for all. Industrial & Commercial Bank of China Ltd. 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). Based on our pay equity reviews, we take appropriate actions so that our employees continue to be paid fairly and equitably. 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. Wells Fargo announced today a series of environmental sustainability initiatives, including setting a net zero 2050 target, encompassing financed emissions. In 2021, the environmental, social, and governance (ESG) scores of the largest banks worldwide varied markedly across different score . Success comes from inviting and incorporating diverse perspectives. 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. 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. You must click the activation link to complete your subscription. 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. Contact Information Explore real stories about how were helping our communities thrive. As part of our sustainability goals, Wells Fargo has committed to deploy $500 billion in sustainable . 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. . 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.. [Business and Sustainable Development Commission], 10. Sustainalytics' Peer Performance Insights gives an in-depth analysis of your company's ESG strengths and weaknesses compared to your competitors and industry performance. Wells Fargo does not endorse and is not responsible for their content, links, privacy, or security policies. 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. 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. [NAVEX Global], 25. Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. We're sorry, but some features of our site require JavaScript. View of city skyline and tree lined streets. Performance data quoted represent past performance and are no guarantee of . However, the following statistics prove that these efforts will pay off in the long run. Learn More. A summary of the study appeared in the publication's April 8 edition. The data can be challenging to track, which prompted our Wells Fargo Investment Institute team to develop a proprietary . 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 . Our purpose is to advance sustainable economic growth and financial opportunity. 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.