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. JPMorgan Chase is committed to helping our clients navigate the challenges and capitalize on the long-term economic opportunities and environmental benefits of . 2758 0 obj <>/Filter/FlateDecode/ID[<6DC46A0024834C4582CAFF16DB74A66E><2A133B070528D64983A832B5E1A57119>]/Index[2749 18]/Info 2748 0 R/Length 63/Prev 503325/Root 2750 0 R/Size 2767/Type/XRef/W[1 2 1]>>stream 2. >>> Next: ESG Is Not New, But It's The New Normal. You are leaving wellsfargo.com and entering a website that Wells Fargo does not control. Based on our pay equity reviews, we take appropriate actions so that our employees continue to be paid fairly and equitably. NMLSR ID 399801. E.J. The minimum account size for this program is $500. 02:46. Seleccione el enlace si desea ver otro contenido en espaol. Goals and Reporting. The company also . Learn about the Wells Fargo CO2eMission to help drive down greenhouse gas emissions to net zero by 2050. 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 . We've rounded up a list of 25 ESG statistics that show just how powerful and important this concept is. Media 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. 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. Email us at corporateresponsibility@wellsfargo.com, 1999 - 2023 Wells Fargo. Environmental, social, and governance (ESG) reporting . We're sorry, but some features of our site require JavaScript. Climate-related weather events are expected to cost businesses $1.3 trillion by 2026 [CDP], 8. Wells Fargo's net-zero . Promoting diversity, equity, and inclusion awareness through education and training. (pCG!aAT [Climate Bonds Initiative], 18. Our CEO chairs the IBC and partnered closely on the development of these . ESG portfolios constructed using the ratings of two well-known ESG ratings providers yield large performance dispersion and low correlation of returns. Our reports and statements on sustainability, conduct, and more can be . Our office locations span the Americas, Europe, and Asia-Pacific. Building a diverse pipeline of candidates for positions at all levels of the company, including leadership positions. %%EOF Climate change is one of the most urgent environmental and social issues of our time. 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. 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 prioritize the ESG issues that offer the greatest potential for Walmart to create shared value. 37 on Fortunes 2021 rankings of Americas largest corporations. Investors have become increasingly interested in ESG issues. 27% of revenues of the 500 largest US companies and 31% of revenues generated of the 1,200 largest global companies come from activities aligned with the EU Taxonomy for Sustainable Activities [S&P Global], 12. No of Employees 243,674. Explore real stories about how were helping our communities thrive. Learn about our environmental, social, and governance (ESG) strategy, activities, and performance through the disclosures below. 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. Learn More. Im excited to coordinate existing ESG efforts and identify niche strategies and product opportunities for our clients across M&A, lending, and more. 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. Our public ESG Ratings & Climate corporate search tool allows you to search over 2,900 companies that are constituents of the MSCI All Country World Index (ACWI). We're 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 . "Being transparent about our approach to environmental and social governance issues and the risks associated with them helps . 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. Appointment reflects surge in client demand for ESG products and services. 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 report aims to educate clients, financial advisors, and investors about market trends around sustainable investing and to communicate . After submitting your request, you will receive an activation email at the requested email address. endstream endobj startxref ESG propositions had a positive impact on equity returns 63% of the time [McKinsey], 16. 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 . 15. A lack of data availability and, more specifically, siloed data keeps companies from reaching their goals. ESG-mandated assets could make up half of all professionally managed investments by 2025, totaling $35 trillion. 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. 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. Our diversity, equity, and inclusion strategy provides common direction and clear goals across Wells Fargo. 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. Explore real stories about how were helping our communities thrive. u%84X@&%uKUd+j5&IQk^_6|. 2021 Workforce profile (as of December 31, 2021). 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. In a study commissioned by Financial Times' Agenda , stock-ratings firm HIP Investor rated Wells Fargo among the most transparent companies on environmental, social, and governance (ESG) metrics. We believe the scale and reach of our business and our approach to ESG matters helps . EU Sustainable Finance Action Plan Solutions, Morningstar Sustainability Rating for Funds. Please enable JavaScript on your browser and refresh the page. This is the companys second Sustainability Bond and its first to include consumer financing of electric vehicles as a project category. Reporting and disclosures. EEO Supplemental Information (PDF), 1999 - 2023 Wells Fargo. We're sorry, but some features of our site require JavaScript. To opt in for email alerts, please enter your email address in the field below and select at least one alert option. Mark Segal March 8, 2021. Access ESG strategy, activities, performance, and reports. 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. Clients are increasingly focused on ESG-related solutions to meet sustainability goals, said Rob Engel, head of Banking at WellsFargo. 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. 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. 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. Numbers may differ from other Wells Fargo reports that count employees based on full-time equivalent methodology. Plays a major role in shaping, sustaining, and driving the business development of the bank across 54 branches throughout the East Coast . Learn More. Embarking on a formal ESG journey is no small feat. ESG is far from a new concept, but it has taken off in popularity over the past few years. Finance and ESG are an increasingly interconnected proposition. Material ESG issues are issues that are considered to be financially material to a given company in a relevant sub-industry. In addition, Wells Fargo is committed to attracting, developing, and retaining the best-qualified, most diverse group of employees. 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. [Carrots and Sticks], 21. We include both gender and race/ethnicity in our reviews. We conduct an objective, statistical pay equity analysis annually. That is why the Paris Agreement's temperature goal of 1.5 C is often expressed as "net-zero greenhouse gas emissions by 2050.". ESG investments to grow market share and improve transparency . 2766 0 obj <>stream Published by Statista Research Department , Jun 14, 2022. 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. [PwC]. Worse, only 39% believe their company performs well for governance, and 37% for social issues. ServiceNow. 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. We see differences as an asset. HW0T4*2~^ro}*;vpYkC10ht400(ut QL@d-+d10~"@,vD ?~? The number of ESG reporting provisions issued by governmental bodies has grown 74% over the last four years. endstream endobj startxref These data were collected in 2017 when Wells Fargo was in the middle of . ESG Goals and Performance Data (PDF) . 1013 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. Explore how we're creating a more inclusive future in your neighborhood. 4040 0 obj <>/Filter/FlateDecode/ID[<9E1E71D3FFAF43C483EF1BC13188BE55><261203C3A3546A4F92C4B1EC7B5B117F>]/Index[4025 450]/Info 4024 0 R/Length 109/Prev 852551/Root 4026 0 R/Size 4475/Type/XRef/W[1 2 1]>>stream 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. Central to the digital infrastructure strategy is Wells Fargo's selection of two industry leaders as its public cloud providers: Microsoft Azure as its . Headquarters United States of America. Sustainability. "Sustainability 0 &06ZMI@v -%d`3_.D @ nK Goals and reporting. . Industrial & Commercial Bank of China Ltd. Identifying, assessing, and managing environmental and social impacts associated with our commercial clients and financings. Unfortunately this company is not yet rated by Sustainalytics or no matches were found. 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. 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. Share. A "net-zero greenhouse gas emissions by 2050" goal is grounded in an effort to limit the Earth's average temperature rise to no more than 1.5 C above pre-industrial levels. Environmental, social, and governance (ESG) reporting. Once considered a niche market for the largest global companies, ESG has moved into the mainstream and been adopted by smaller, privately-owned companies as well. Please enable JavaScript on your browser and refresh the page. That's about to change. In 2019, Perillon became part of Lisam,a global leader in SDS/ChemicalManagement software, serving morethan 1,700 customers from 24 worldwidelocations. Past performance is no guarantee of future results. 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. These findings are from a recent Wells Fargo Investment Institute (WFII) report: Vision Investing: Values, Impact, and ESG (PDF). Meeting the increasingly diverse needs of Wells Fargo's global customer base is critical for our company's long-term growth and success. hb```"EVkB cc`aP`4`H Advancement of climate goals and an emphasis on biodiversity COP27 and COP15 closed in winter 2022, raising accountability for climate goals and putting a . Only 50% of companies believe their company performs very effectively against environment metrics. I am currently working as Senior Business Systems Consultant at Wells Fargo, where I contribute to planning, designing and implementing a new end to end automation system to deliver Regulatory Reports. We provide links to external websites for your convenience. 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. 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. Diversity, equity, and inclusion leaders across the company help to strategically implement inclusive practices and behaviors. 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.. The bank is setting a goal of net zero greenhouse gas emissions . When Parnassus invested in Wells Fargo Bank, the company had positive fundamental and ESG profiles. 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. Sustainalytics' Peer Performance Insights gives an in-depth analysis of your company's ESG strengths and weaknesses compared to your competitors and industry performance. Contact Information 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. Learn More. 2021 Annual Report. Make sure all people feel respected and have equal access to resources and opportunities to succeed. 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. Please enable JavaScript on your browser and refresh the page. She brings strong relationship management, product, and credit experience, having supported a range of industry segments, as well as leading origination efforts in Emerging Europe, Africa, India, and Middle East for financial institutions. 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 . I am also comfortable in using tools like Erwin Data Modeler, Power BI, SQL Developer and Alteryx. It is almost entirely focused on the U.S. 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. We value and promote diversity, equity, and inclusion in all aspects of business and at all levels. [NAVEX Global], 24. 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 . Companies need to hold themselves accountable for improved performance over time. Investors have become increasingly interested in ESG issues. 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. 2022 Proxy Statement. Jeenah Moon for The New York Times. 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 . 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. 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. ESG strategies can affect operating profits by as much as 60% [McKinsey], 13. News, insights, and perspectives from WellsFargo are also available atWellsFargo Stories. Wells Fargo does not endorse and is not responsible for their content, links, privacy, or security policies. 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. 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. This team is . 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. Wells Fargos Board of Directors, through its Human Resources Committee, oversees the Companys human capital management practices, including our talent management and succession planning process, diversity, equity, and inclusion initiatives, and pay equity reviews. After submitting your request, you will receive an activation email at the requested email address. Hannah.Sloane@wellsfargo.com. 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. However, the following statistics prove that these efforts will pay off in the long run. 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. March 9, 2019. Done right, it requires a significant investment of money and resources. Through the issuance of Sustainability Bonds, Wells Fargo seeks to reinforce its commitment to projects that align with its sustainability goals and advance the development of the broader sustainable finance market. Additional sustainability news, insights and perspectives are available at WellsFargo Stories. [Deloitte], 17. Exposure refers to the extent to which a company is exposed to different material ESG issues. We are committed to conducting on-going pay equity reviews and continuing to enhance our processes. Key 2021 Highlights We provide links to external websites for your convenience. The research shows that more countries are requiring companies to disclose their ESG performance in one format or another. Wells Fargo is committed to working with nonprofits to build a more inclusive, sustainable future for all. As described in the Board's Corporate Governance Guidelines, the Board strongly considers diversity in evaluating director nominees. Creating solutions to pressing societal challenges. The rigid, relentless sales goals that prompted Wells Fargo & Co. employees to open more than 2 million unauthorized customer accounts are on their way out, the company said yesterday.The day . (Photo: Wells Fargo) "Through the issuance of this second Sustainability Bond, Wells Fargo is . Copyright 2023 Sustainalytics. The creation of the ESG Solutions group is the latest in a series of recent of ESG-related initiatives at WellsFargo. Strengthen financial education and economic opportunities in underserved communities. 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. 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. 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. [Business and Sustainable Development Commission], 10. Wells Fargo Community Impact. Compare Wells Fargo & Co. with other industry peers. To opt in for email alerts, please enter your email address in the field below and select at least one alert option. 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. 0 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. Usage as a credit rating or as a benchmark is not permitted. 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. 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. 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. 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. 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 $358 billion. Fintech and turnkey asset management platform Orion Advisor Solution is launching an on-demand education dashboard that allows advisors to learn strategies for improving and growing their business . @F,qtS "3rTUZ7qG;,,{\{N$tux~G9\1pFp=CTE.t4$ `ch3 pHt`h``h zAn`RL2y %. Total Shareholder Return (1) (USD) 30 35 40 45 50 +61%. The results of the review are shared with our Boards Human Resources Committee. All Rights Reserved. NMLSR ID 399801, 45% of our U.S. workforce is ethnically/racially diverse, 8,072 veteran employees in the U.S. (self-identified). Company Profile WFC. But don't take our word for it. Opportunity. Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. WellsFargo Corporate & Investment Banking delivers a comprehensive suite of capital markets, banking, and financial products and services. %PDF-1.6 % 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. Relevant military experience is considered for veterans and transitioning service men and women. Putting the United Nations Sustainable Development Goals (SDGs) the leading ESG framework for large companies at the center of the worlds economic strategy could unlock $12 trillion a year in opportunities and generate 380 million jobs. 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 . Naveg a una pgina que no est disponible en espaol en este momento. 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. Based in Charlotte, NorthCarolina, Pich will report to Ken Kitkowski, head of Corporate Finance. ESG offers numerous benefits, including reduced business risks, better financial performance, and higher returns on investment. endstream endobj 970 0 obj <>/Metadata 30 0 R/Outlines 46 0 R/Pages 967 0 R/StructTreeRoot 71 0 R/Type/Catalog/ViewerPreferences<>>> endobj 971 0 obj <>/MediaBox[0 0 612 792]/Parent 967 0 R/Resources<>/Font<>/ProcSet[/PDF/Text]>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> endobj 972 0 obj <>stream 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. 1999 - 2023 Wells Fargo. 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 . 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.
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