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ESG is far from a new concept, but it has taken off in popularity over the past few years. 71% of CEOs believe it is their personal responsibility to ensure that the organizations ESG policies reflect the values of their customers [KPMG], 23. HW0T4*2~^ro}*;vpYkC10ht400(ut QL@d-+d10~"@,vD ?~? In the past year, demand for ESG solutions from our corporate clients has surged across many areas, from subscription finance to equity capital markets, M&A, and bond issuance. NMLSR ID 399801. Jeenah Moon for The New York Times. ESG offers numerous benefits, including reduced business risks, better financial performance, and higher returns on investment. 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. 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. 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. "Sustainability She was eventually fired. Compare Wells Fargo & Co. with other industry peers. Support clients or client activities that promote environmental sustainability. Material ESG issues are issues that are considered to be financially material to a given company in a relevant sub-industry. Naveg a una pgina que no est disponible en espaol en este momento. [The Climate Pledge]. 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. Michelle.Palomino@wellsfargo.com, Hannah Sloane, 3478025942 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. We're sorry, but some features of our site require JavaScript. Our management score assesses the robustness of a company's ESG programs, practices and policies. One former employee said she could not meet sales goals in any ethical way and called the Wells Fargo's ethics hotline. 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. WellsFargo Corporate & Investment Banking delivers a comprehensive suite of capital markets, banking, and financial products and services. . 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. Selecione Cancele para permanecer en esta pgina o Contine para ver nuestra pgina principal en espaol. @F,qtS "3rTUZ7qG;,,{\{N$tux~G9\1pFp=CTE.t4$ `ch3 pHt`h``h zAn`RL2y %. Today there are nearly 400 reporting provisions in the 80 countries included in the study. endstream endobj startxref Plays a major role in shaping, sustaining, and driving the business development of the bank across 54 branches throughout the East Coast . 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. Throughout this document you will see the following callout to indicate where information about performance Accelerate transition to a low-carbon economy to help reduce climate change impacts. Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. . Promoting diversity, equity, and inclusion awareness through education and training. 30 on Fortunes 2020 rankings of Americas largest corporations. 1013 0 obj <>stream Meeting the increasingly diverse needs of Wells Fargo's global customer base is critical for our company's long-term growth and success. 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. Central to the digital infrastructure strategy is Wells Fargo's selection of two industry leaders as its public cloud providers: Microsoft Azure as its . EU Sustainable Finance Action Plan Solutions, Morningstar Sustainability Rating for Funds. Learn more about our approach to diversity, equity, and inclusion, goals, and performance. Investors have become increasingly interested in ESG issues. ERNs are dedicated to helping employees with professional growth and education, community outreach, business development, and customer insight. More than one in four S&P 500 companies that conducted earnings calls for Q4 2020 cited ESG. Environmental, social, and governance (ESG) reporting. 2022 Proxy Statement. These data were collected in 2017 when Wells Fargo was in the middle of . 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. Learn More. You must click the activation link to complete your subscription. [FactSet], 5. We are committed to conducting on-going pay equity reviews and continuing to enhance our processes. Leverage Sustainalytics' ESG Risk Ratings to understand and promote your corporate ESG performance with internal and external stakeholders. Past performance is no guarantee of future results. As described in the Board's Corporate Governance Guidelines, the Board strongly considers diversity in evaluating director nominees. Company Profile WFC. Sources: Bloomberg and Wells Fargo Investment Institute, as of December 31, 2021. This represents a 63% increase in ESG mentions from the previous quarter, and the highest number of ESG mentions in the last ten years. We define diversity as the unique combination of various dimensions that makes each of us different from and similar to others. Social Impact & Sustainability leads the development of strategic initiatives and corporate commitments to drive positive, innovative social impact and sustainability, manage critical environmental and social issues, and enhance Wells Fargo's reputation as a leader in Environmental, Social and Governance (ESG) performance. 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. 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 . Opportunity. 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 . [NAVEX Global], 24. Address 420 Montgomery St, San Francisco, California, 94104-1207. However, the following statistics prove that these efforts will pay off in the long run. 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. 4025 0 obj <> endobj 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. News, insights and perspectives from Wells Fargo are also available at WellsFargo Stories. ESG content includes: Stakeholder Capitalism Metrics developed by the International Business Council (IBC) of the World Economic Forum. Goals and reporting. Wells Fargo to Deploy Additional $500 Billion in Sustainable Finance by 2030. 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. Telephone 1 612 6671234. [Carrots and Sticks], 21. Its top executives say that because they . In spite of all this, the research shows that companies are falling short of their ESG targets. endstream endobj startxref Contact Information In early 2021, Wells Fargo announced a goal of aligning our business activities with the goals of the Paris Climate Agreement and achieving net- . Reflecting this trend, we took the decision to integrate our ESG report into the 2021 Barclays PLC Annual Report. Total Shareholder Return (1) (USD) 30 35 40 45 50 +61%. %%EOF 2766 0 obj <>stream Explore real stories about how were helping our communities thrive. 4474 0 obj <>stream 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. ESG Report, and 2020 ESG Goals and Performance Data are available . ESG portfolios constructed using the ratings of two well-known ESG ratings providers yield large performance dispersion and low correlation of returns. The company also announced the launch of an Institute for Sustainable Finance to manage the deployment of $500 billion of financing to sustainable businesses and . Wells Fargo has provided this link for your convenience, but does not endorse and is not responsible for the content, links, privacy policy, or security policy of this website. This includes financial products and services that: In 2021, we launched the Wells Fargo Institute for Sustainable Finance to help deploy financing to sustainable businesses and projects and to support science-based research on low carbon solutions. [PwC]. Selecione Cancele para permanecer en esta pgina o Contine para ver nuestra pgina principal en espaol. We prioritize the ESG issues that offer the greatest potential for Walmart to create shared value. With more than nine out of ten publicly traded companies adopting ESG, it's one of the biggest trends in the business world today. hbbd``b`>$\#/; HL 6$g`bq0 X Learn about the Wells Fargo CO2eMission to help drive down greenhouse gas emissions to net zero by 2050. "Being transparent about our approach to environmental and social governance issues and the risks associated with them helps . And rightly so: ESG has the potential to reduce costs, boost stock performance, and increase customer and employee loyalty among other things. 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. [Clearwater Analytics]. 1999 - 2023 Wells Fargo. Our office locations span the Americas, Europe, and Asia-Pacific. Jul 2015 - Jun 20172 years. Between 2011 and 2016, approximately 5,300 employees were fired for fraudulent . EEO Supplemental Information (PDF), 1999 - 2023 Wells Fargo. It operates through branches, ATMs, and mobile and internet distribution channels globally. Usage as a credit rating or as a benchmark is not permitted. 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. In April 2021, the Prince of Wales joined 40 banks worldwide in a working group called the . You can sign up for additional alert options at any time. Sustainalytics' Peer Performance Insights gives an in-depth analysis of your company's ESG strengths and weaknesses compared to your competitors and industry performance. 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.. Please enable JavaScript on your browser and refresh the page. 88% of consumers will be more loyal to a company that supports social or environmental issues [Cone Communications]. Diversity, equity, and inclusion leaders across the company help to strategically implement inclusive practices and behaviors. There are many factors to take into consideration when choosing an investment portfolio and ESG data is only one component to potentially consider. Understand how exposed companies are to specific material ESG issues and how well companies are managing these issues. Bernacki, 4158233523 A Lean Six Sigma Green Belt (LSSGB) and Lean Six Sigma Black Belt (LSSBB) certified "Performance Driven Professional" bringing in professional business acumen and record of achievements developed in over 19 years Experience in managing entire process operations with an aim to accomplish corporate plans & goals successfully Used instincts . Naveg a una pgina que no est disponible en espaol en este momento. Why is diversity, equity, and inclusion important to Wells Fargo? 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. [Climate Bonds Initiative], 18. We see differences as an asset. 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. We're sorry, but some features of our site require JavaScript. Wells Fargo does not endorse and is not responsible for their content, links, privacy, or security policies. Highest Controversy level that has impacted Wells Fargo & Co.'s ESG Risk Rating in the last three years. Email corporateresponsibility@wellsfargo.com, 1999 - 2023 Wells Fargo. Please enable JavaScript on your browser and refresh the page. 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. 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. . Learn about our environmental, social, and governance (ESG) strategy, activities, and performance through the disclosures below. Building a diverse pipeline of candidates for positions at all levels of the company, including leadership positions. Wells Fargo . We are using our resources as a global bank to help address society's greatest challenges, including championing pay equity, addressing the racial wealth gap, increasing economic mobility and confronting the climate crisis. 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 . 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. Email us at corporateresponsibility@wellsfargo.com. 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. 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. Reporting and disclosures. 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. Climate change is one of the most urgent environmental and social issues of our time. Sustainalytics' Peer Performance Insights gives an in-depth analysis of your company's ESG strengths and weaknesses compared to your competitors and industry performance. Creating Specific, Measurable, Achievable . 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. To help provide healthy, safe, productive, and environmentally responsible spaces for our stakeholders, we approach operational efficiency through the principles of: The Institute supports clients and communities to accelerate the transition to an equitable, low-carbon economy. 02:46. The differences are even greater at the individual ratings level for environmental, social, and governance scores. Environmental and social impact management (PDF), Environmental, social, and governance (ESG) reporting. Our goal is to achieve net-zero greenhouse gas emissions by 2050, including financed emissions. ESG-mandated assets could make up half of all professionally managed investments by 2025, totaling $35 trillion. Key Points. Environmental, social, and governance (ESG) reporting . View of city skyline and tree lined streets. 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 . Only 50% of companies believe their company performs very effectively against environment metrics. 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. ESG Goals and Performance Data (PDF) . Management refers to how well a company is managing its relevant ESG issues. Companies need to hold themselves accountable for improved performance over time. 15. Wells Fargo has spent years publicly apologizing for deceiving customers with fake bank accounts, unwarranted fees and unwanted products. A summary of the study appeared in the publication's April 8 edition. Another reason for the rapid growth of ESG has to do with global mandates. 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. Sustainability and Other Reporting. 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 . 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. Wells Fargo Community Impact. [Carrots and Sticks]. Learn More. 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. Media Identifying, assessing, and managing environmental and social impacts associated with our commercial clients and financings. Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. Learn More. Wells Fargo & Co <WFC.N> Chief Executive Charles Scharf exasperated some Black employees in a Zoom meeting this summer when he reiterated that the bank had trouble reaching diversity goals because . 2749 0 obj <> endobj Starbucks Stories - Stories to inspire and nurture the human spirit We're taking an active role in addressing pressing societal challenges to drive positive impact. hbbd``b$ EH0; ` $y q[Azb``$`NQbsG`4G8%FB F Business has an important role to play in advancing the transition to a low-carbon economy. One major takeaway from the research is the breadth of companies that are embracing ESG. Print. Florida, United States. More than half of investors are interested in sustainable investing, and sustainable investments have grown 30-fold since 2010. WFC is headquartered in San Francisco, California, the US. In 2016, Well Fargo was fined a combined total $185 million for fraudulent activity, and CEO John Stumpf resigned. Creating solutions to pressing societal challenges. 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. Media After submitting your request, you will receive an activation email at the requested email address. More information on sustainability at Wells Fargo can be found on Wells Fargo Stories. Based in Charlotte, NorthCarolina, Pich will report to Ken Kitkowski, head of Corporate Finance. Learn about the Wells Fargo Institute for Sustainable Finance. Climate-related weather events are expected to cost businesses $1.3 trillion by 2026 [CDP], 8. Looking at these statistics, one thing is clear: ESG is a critical must-do for all companies, regardless of size or industry. Additional sustainability news, insights and perspectives are available at WellsFargo Stories. (ESG) Report, ESG Goals and Performance Data, and Environmental and Social Risk Management. Banks and lenders can use our ESG Risk Ratings and data as a part of a broader analysis of their clients as well as for innovative product solutions such as sustainability linked loans. 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. After submitting your request, you will receive an activation email at the requested email address. You are leaving newsroom.wf.com and entering a website that Wells Fargo does not control. Finance and ESG are an increasingly interconnected proposition. 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. Wells Fargo is committed to working with nonprofits to build a more inclusive, sustainable future for all. Exposure refers to the extent to which a company is exposed to different material ESG issues. 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 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 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.