Performance data quoted represent past performance and are no guarantee of . At Wells Fargo, we remain excited about the future of sustainable finance, the transformative impact it will continue to . Explore how we're creating a more inclusive future in your . hbspt.cta._relativeUrls=true;hbspt.cta.load(2328737, '39d62033-905c-4285-b52a-83281a6a3ade', {"useNewLoader":"true","region":"na1"}); Perillon Western Regional Office:Denver, CO. Perillon is an established provider ofintegrated EHS Risk and Compliance Management softwaresolutions committed to customerexperience and service as its top priority. hUOeZK;V^c; 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. 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. 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. Throughout this document you will see the following callout to indicate where information about performance Creating solutions that protect the environment and grow the economy. 1999 - 2023 Wells Fargo. 2. More than one in four S&P 500 companies that conducted earnings calls for Q4 2020 cited ESG. Explore real stories about how were helping our communities thrive. Wells Fargo ranked No. 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. >>> Next: ESG Is Not New, But It's The New Normal. 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 . performance . 3. Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. 2766 0 obj <>stream Companies need to hold themselves accountable for improved performance over time. Explore real stories about how were helping our communities thrive. 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. Nearly a quarter (24%) of companies say that corporate silos are a barrier to ESG progress. [Climate Bonds Initiative], 18. 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. You can sign up for additional alert options at any time. (pCG!aAT It's important to understand ESG data and engagement before making investment choices. Email us at corporateresponsibility@wellsfargo.com. March 9, 2021 by Emily Holbrook. Based in Charlotte, NorthCarolina, Pich will report to Ken Kitkowski, head of Corporate Finance. A recent study conducted on behalf of Wells Fargo showed "large majorities" of respondents preferred digital modes to handle all their financial matters. The company also . NMLSR ID 399801. We disclose our ESG strategy, policies and practices in our Annual Report and Proxy Statement. 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. 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. Created supply chain sustainability strategy development across the Walt Disney Company, focused on Consumer Products and Parks and Resorts segments . You are leaving wellsfargo.com and entering a website that Wells Fargo does not control. Goals and reporting. . Our exposure score takes into consideration subindustry and company-specific factors such as its business model. 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. 1013 0 obj <>stream Diversity, equity, and inclusion leaders across the company help to strategically implement inclusive practices and behaviors. Looking at these statistics, one thing is clear: ESG is a critical must-do for all companies, regardless of size or industry. All Rights Reserved. %PDF-1.6 % 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. Published by Statista Research Department , Jun 14, 2022. [Quoted Companies Alliance], 4. Wells Fargo to Deploy Additional $500 Billion in Sustainable Finance by 2030. Wells Fargo does not endorse and is not responsible for their content, links, privacy, or security policies. Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services to individuals . Understand how exposed companies are to specific material ESG issues and how well companies are managing these issues. 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). Reflecting this trend, we took the decision to integrate our ESG report into the 2021 Barclays PLC Annual Report. 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. However, much work is still needed to ensure that companies are ready for the ESG revolution. 2021 Annual Report. The data can be challenging to track, which prompted our Wells Fargo Investment Institute team to develop a proprietary . Sustainability and Other Reporting. A lack of data availability and, more specifically, siloed data keeps companies from reaching their goals. When Parnassus invested in Wells Fargo Bank, the company had positive fundamental and ESG profiles. We see differences as an asset. 4025 0 obj <> endobj After submitting your request, you will receive an activation email at the requested email address. 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. hbbd``b`>$\#/; HL 6$g`bq0 X 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. 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. 2022 Proxy Statement. (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. 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. We're sorry, but some features of our site require JavaScript. hbbd```b`` j""Yl5``! 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 . Wells Fargo Investment Institute is a registered investment advisor and wholly owned subsidiary of Wells Fargo Bank, N.A., a bank affiliate of Wells Fargo & Company. The Governance and Nominating Committee (GNC) of Wells Fargo & Companys Board of Directors identifies, evaluates, and recommends board nominees who represent a variety of backgrounds, skills, professional and industry experience, and other personal qualities, attributes, and perspectives that contribute to the overall diversity of the Board. 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. Environmental and social impact management. endstream endobj startxref It is almost entirely focused on the U.S. 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. 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 . 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 WellsFargos approach to ESG risks and opportunities, and performance on ESG measures. Make sure all people feel respected and have equal access to resources and opportunities to succeed. 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 ejbernacki@wellsfargo.com. Strengthen financial education and economic opportunities in underserved communities. More than half of investors are interested in sustainable investing, and sustainable investments have grown 30-fold since 2010. 4 Within the underlying E, S, and G dimensions, the sustainable counterpart to the S&P 500 . The research shows that more countries are requiring companies to disclose their ESG performance in one format or another. 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. Key 2021 Highlights We value and promote diversity, equity, and inclusion in all aspects of business and at all levels. 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. In early 2021, Wells Fargo announced a goal of aligning our business activities with the goals of the Paris Climate Agreement and achieving net- . A Wells Fargo & Co. sign sits on display outside the company's offices in San Francisco, California, U.S., on Tuesday, April 27, 2010. Wells Fargo is committed to working with nonprofits to build a more inclusive, sustainable future for all. 88% of consumers will be more loyal to a company that supports social or environmental issues [Cone Communications]. "Enterprises should improve data security and privacy controls to meet certain ESG disclosures," Hirth said. 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. As part of our sustainability goals, Wells Fargo has committed to deploy $500 billion in sustainable . ServiceNow. To opt in for email alerts, please enter your email address in the field below and select at least one alert option. [Deloitte], 17. Media 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 . The minimum account size for this program is $500. [NAVEX Global], 2. [Clearwater Analytics]. 20. Contact Information 22. (Photo: Wells Fargo) "Through the issuance of this second Sustainability Bond, Wells Fargo is . Learn more about our approach to diversity, equity, and inclusion, goals, and performance. ESG portfolios constructed using the ratings of two well-known ESG ratings providers yield large performance dispersion and low correlation of returns. 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. &06ZMI@v -%d`3_.D @ nK The differences are even greater at the individual ratings level for environmental, social, and governance scores. 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. Climate-related weather events are expected to cost businesses $1.3 trillion by 2026 [CDP], 8. March 9, 2019. 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. Business has an important role to play in advancing the transition to a low-carbon economy. [Quoted Companies Alliance]3. 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.