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Advancing Environmental Sustainability

We are integrating sustainability across the enterprise to help accelerate the transition to a low carbon economy

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. We believe that climate change continues to be one of the most urgent environmental and social issues of our time, and we are working across our value chain to help accelerate the transition to a low-carbon economy and reduce the impacts of climate change on our business, communities, employees, and customers.

More information is available in our Environmental, Social, and Governance (ESG) Report (PDF), ESG Goals and Performance Data (PDF), and Taskforce on Climate-related Financial Disclosures (TCFD) Report (PDF).

Climate change

Climate change is one of the most urgent environmental and social issues of our time. Wells Fargo is committed to aligning our activities to support the goals of the Paris Agreement and helping transition to a net-zero carbon economy. Our goal is to achieve net-zero greenhouse gas emissions by 2050, including financed emissions. To meet this goal, we are taking a comprehensive 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.

We're leveraging our partnerships and collaborating with our stakeholders on a number of initiatives to transition to a low-carbon, climate-resilient future, including:

  • Working with clients to help finance their emissions reduction efforts, support science-based research on low carbon solutions, and advocate for policies the enable client transactions
  • Driving innovation and accelerating market-based solutions to the climate crisis
  • Transparently disclosing our progress, including working to include all Scope 3, financed emissions
  • Enhancing energy and resource efficiency in our own physical assets to help ensure operational sustainability, adaptation, and resilience
  • Building strategic environmental and social risk management (ESRM) practices

Sustainable finance

As part of our goal to reach net-zero greenhouse gas emissions by 2050, Wells Fargo has committed to deploy $500 billion in sustainable finance between 2021 and 2030. Categories include:

  • Activities that help the transition to a low-carbon economy: renewables, energy-efficiency technologies, green buildings, green bonds, and low-emission vehicles
  • Companies and projects focused on sustainable agriculture, conservation, recycling, resource management, and other environmentally beneficial efforts
  • Our customers own emissions-reduction efforts

In 2021, we launched the Institute for Sustainable Finance to help deploy financing to sustainable businesses and projects and to support science-based research on low carbon solutions. The Institute will work with communities as they prepare for and adapt to changing weather-related impacts and advocate for policies that enable client transitions.

In 2021, Wells Fargo issued our first sustainability bond, named the Inclusive Communities and Climate Bond, which raised $1 billion in capital aimed toward projects that support housing affordability, socioeconomic advancement and empowerment, and renewable energy. Learn more here.

Operational efficiency

To help provide healthy, safe, productive, and environmentally responsible spaces for our stakeholders, we approach operational efficiency through the principles of:

  • Environmental risk and compliance
  • Resource efficiency
  • 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
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.