More than 200 companies have signed The Climate Pledge, a pact to reach the Paris Agreement goal of net zero carbon 10 years early. 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 define diversity as the unique combination of various dimensions that makes each of us different from and similar to others. Numbers may difer from other Wells Fargo reports that count employees based on full-time equivalent methodology. 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. 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. [NAVEX Global], 24. Reporting and disclosures. Print. We're sorry, but some features of our site require JavaScript. NMLSR ID 399801. 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. Investing with impact is the practice of using investments to generate identifiable and measurable positive impact in additional to financial returns. 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. March 9, 2021 by Emily Holbrook. 0 Support clients or client activities that promote environmental sustainability. The report aims to educate clients, financial advisors, and investors about market trends around sustainable investing and to communicate . There are many factors to take into consideration when choosing an investment portfolio and ESG data is only one component to potentially consider. 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 . 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. 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. After submitting your request, you will receive an activation email at the requested email address. 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. WFC is headquartered in San Francisco, California, the US. Today there are nearly 400 reporting provisions in the 80 countries included in the study. Opportunity. 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. 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 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. (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. 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. Industrial & Commercial Bank of China Ltd. Email us at corporateresponsibility@wellsfargo.com. 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. ERNs are dedicated to helping employees with professional growth and education, community outreach, business development, and customer insight. Wells Fargo Sustainability Bond Framework . 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 . Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services to individuals . . The results of the review are shared with our Boards Human Resources Committee. D&%`<0;D2HFH2:n`@go ?h Plays a major role in shaping, sustaining, and driving the business development of the bank across 54 branches throughout the East Coast . 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. At Wells Fargo, we remain excited about the future of sustainable finance, the transformative impact it will continue to . Media 15. Climate-related weather events are expected to cost businesses $1.3 trillion by 2026 [CDP], 8. Additional information may be found atwww.wellsfargo.com | Twitter:@WellsFargo. But don't take our word for it. Creating Specific, Measurable, Achievable . Appointment reflects surge in client demand for ESG products and services. 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 . NMLSR ID 399801, 45% of our U.S. workforce is ethnically/racially diverse, 8,072 veteran employees in the U.S. (self-identified). Michelle Palomino, 7862961817 [NAVEX Global], 2. 1999 - 2023 Wells Fargo. We value and promote diversity, equity, and inclusion in all aspects of business and at all levels. It operates through branches, ATMs, and mobile and internet distribution channels globally. The company is split into four primary segments: consumer banking, commercial banking, corporate and investment banking, and wealth and investment management. %%EOF 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. Another reason for the rapid growth of ESG has to do with global mandates. 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 half of investors are interested in sustainable investing, and sustainable investments have grown 30-fold since 2010. Serve excluded, under-served, or marginalized people or communities. Categories include: socioeconomic advancement and empowerment, housing affordability, healthcare, and education. The company also . Website www.wellsfargo.com. Identifying, assessing, and managing environmental and social impacts associated with our commercial clients and financings. We conduct an objective, statistical pay equity analysis annually. 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. 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. You must click the activation link to complete your subscription. We are committed to conducting on-going pay equity reviews and continuing to enhance our processes. 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. Im excited to coordinate existing ESG efforts and identify niche strategies and product opportunities for our clients across M&A, lending, and more. 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. Companies need to hold themselves accountable for improved performance over time. Their ESG Goals and Performance Data reflect progress against its goals in the following areas of priority: Diversity and inclusion Economic empowerment; Environmental sustainability; In 2020, Wells Fargo transitioned its annual corporate responsibility reporting to environmental, social, and governance (ESG) reporting. 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. Creating solutions to pressing societal challenges. 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. Contact Information 0 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. Seleccione el enlace si desea ver otro contenido en espaol. 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. 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 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. 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. Were taking an active role in addressing pressing societal challenges to drive positive impact. Learn about our environmental, social, and governance (ESG) strategy, activities, and performance through the disclosures below. Total Shareholder Return (1) (USD) 30 35 40 45 50 +61%. And rightly so: ESG has the potential to reduce costs, boost stock performance, and increase customer and employee loyalty among other things. More than three out of four (77%) small and mid-caps have a formal purpose statement related to ESG. destiny 2 all black shader hunter; josh aloiai wife; optimum suite mack industries 2021 Annual Report. (Photo: Wells Fargo) "Through the issuance of this second Sustainability Bond, Wells Fargo is . ESG is far from a new concept, but it has taken off in popularity over the past few years. [The Climate Pledge]. However, the following statistics prove that these efforts will pay off in the long run. Company Profile WFC. 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 . 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. Sustainalytics' Peer Performance Insights gives an in-depth analysis of your company's ESG strengths and weaknesses compared to your competitors and industry performance. We disclose our ESG strategy, policies and practices in our Annual Report and Proxy Statement. 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. Learn More. 2766 0 obj <>stream 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 . The creation of the ESG Solutions group is the latest in a series of recent of ESG-related initiatives at WellsFargo. second Inclusive Communities and Climate Bond, Working with clients to help finance their emissions reduction efforts, support science-based research on low-carbon solutions, and advocate for policies that enable client transactions, Driving innovation and accelerating market-based solutions to the climate crisis, Disclosing our progress to eventually include all Scope 3 financed emissions as sufficiently reliable data becomes available, Enhancing energy and resource efficiency in our own physical assets to help promote operational sustainability, adaptation, and resilience. You are leaving wellsfargo.com and entering a website that Wells Fargo does not control. endstream endobj startxref ESG propositions had a positive impact on equity returns 63% of the time [McKinsey] 16. Clients are increasingly focused on ESG-related solutions to meet sustainability goals, said Rob Engel, head of Banking at WellsFargo. Learn about the Wells Fargo Institute for Sustainable Finance. Make sure all people feel respected and have equal access to resources and opportunities to succeed. 15. %PDF-1.7 % 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. Michelle.Palomino@wellsfargo.com, Hannah Sloane, 3478025942 In 2018, WellsFargo announced it will provide $200 billion in financing to sustainable businesses and projects by 2030, with more than 50% focused on clean technology and renewable energy transactions that directly support the transition to a low-carbon economy. Starbucks Stories - Stories to inspire and nurture the human spirit Our reports and statements on sustainability, conduct, and more can be . Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. hbbd```b`` j""Yl5``! WellsFargo& Company (NYSE: WFC) is a leading financial services company that has approximately $1.9trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is the leading middle market banking provider 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 & Investment Management.