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. Advancement of climate goals and an emphasis on biodiversity COP27 and COP15 closed in winter 2022, raising accountability for climate goals and putting a . 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 . 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. 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. Email us at corporateresponsibility@wellsfargo.com, 1999 - 2023 Wells Fargo. 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. Embarking on a formal ESG journey is no small feat. As described in the Board's Corporate Governance Guidelines, the Board strongly considers diversity in evaluating director nominees. That is why the Paris Agreement's temperature goal of 1.5 C is often expressed as "net-zero greenhouse gas emissions by 2050.". 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. 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 Feb 2019 - Present4 years 2 months. It operates through branches, ATMs, and mobile and internet distribution channels globally. I am also comfortable in using tools like Erwin Data Modeler, Power BI, SQL Developer and Alteryx. 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 . Access ESG strategy, activities, performance, and reports. Climate-related weather events are expected to cost businesses $1.3 trillion by 2026 [CDP], 8. [The Climate Pledge]. All Rights Reserved. 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 . Environmental, social, and governance (ESG) reporting. 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.. Worse, only 39% believe their company performs well for governance, and 37% for social issues. ESG offers numerous benefits, including reduced business risks, better financial performance, and higher returns on investment. hb```@(1QXp 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. WellsFargo& Company (NYSE: WFC) is a leading financial services company that has approximately $1.9trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is the leading middle market banking provider in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. hk\GJaXBQ/z^A6R{O9Yy3n^e7.f)~y`)#D)RePSbkXs8]J!mcb)}-vw^z.Wzv}v}{s?\?y}?=~v?/_xakgjj/~_mko(oncAN9/to^={zuW't a>q~9?S~1CJl51CcNb[B=z(^PC8pe?qCj8c}p Email us at corporateresponsibility@wellsfargo.com. We believe the scale and reach of our business and our approach to ESG matters helps . Plays a major role in shaping, sustaining, and driving the business development of the bank across 54 branches throughout the East Coast . Our management score assesses the robustness of a company's ESG programs, practices and policies. Reducing our energy, water, and resource consumption and greenhouse gas emissions, Deploying sustainable building design, construction, and operations into our corporate properties, Engaging employees in environmental activities and leveraging their skills. Wells Fargo is the latest big bank to embrace ambitious lending goals to fight the climate crisis. And rightly so: ESG has the potential to reduce costs, boost stock performance, and increase customer and employee loyalty among other things. [NAVEX Global], 24. 20. Media Seleccione el enlace si desea ver otro contenido en espaol. Climate change is one of the most urgent environmental and social issues of our time. Explore real stories about how were helping our communities thrive. 6Cn[j8lWbhZ064khzfn4agiU^U6dOFJ)w*AMoc]ccUJ6T.uk#_=u'r~o',oI/-@$` UVi:yaoonv}^ gn-:]5 ZinQw_W~=y/b=Aeo}vc@R6trCWXyz;#]!g#0FFa7jh61t:R;q4rOC"=XZ)F30h6;q{M*IDX 5gl GsAjj. Wells Fargo is committed to working with nonprofits to build a more inclusive, sustainable future for all. These findings are from a recent Wells Fargo Investment Institute (WFII) report: Vision Investing: Values, Impact, and ESG (PDF). No of Employees 243,674. Copyright 2023 Sustainalytics. Mark Segal March 8, 2021. 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 . 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. ESG propositions had a positive impact on equity returns 63% of the time [McKinsey] 16. 15. Wells Fargo Sustainability Bond Framework . %%EOF Wells Fargo Joins Net-Zero Banking Alliance. Sources: Bloomberg and Wells Fargo Investment Institute, as of December 31, 2021. Wells Fargo Community Impact. 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. Investors have become increasingly interested in ESG issues. Between 2011 and 2016, approximately 5,300 employees were fired for fraudulent . 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. . You must click the activation link to complete your subscription. Published by Statista Research Department , Jun 14, 2022. [NAVEX Global], 25. 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. %PDF-1.6 % 71% of CEOs believe it is their personal responsibility to ensure that the organizations ESG policies reflect the values of their customers [KPMG], 23. E.J. Wells Fargo & Co.'s Management of ESG Material Risk is Average. endstream endobj startxref 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. 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. [Business and Sustainable Development Commission], 10. NMLSR ID 399801, 45% of our U.S. workforce is ethnically/racially diverse, 8,072 veteran employees in the U.S. (self-identified). Wells Fargo announced today a series of environmental sustainability initiatives, including setting a net zero 2050 target, encompassing financed emissions. Support clients or client activities that promote environmental sustainability. Headquarters United States of America. WellsFargo Corporate & Investment Banking delivers a comprehensive suite of capital markets, banking, and financial products and services. Appointment reflects surge in client demand for ESG products and services. 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. Companies need to hold themselves accountable for improved performance over time. Accelerate transition to a low-carbon economy to help reduce climate change impacts. [Deloitte], 17. . Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. Media 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 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. D&%`<0;D2HFH2:n`@go ?h New York CNN Business . Performance data quoted represent past performance and are no guarantee of . Categories include: socioeconomic advancement and empowerment, housing affordability, healthcare, and education. 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. A Wells Fargo & Co. sign sits on display outside the company's offices in San Francisco, California, U.S., on Tuesday, April 27, 2010. ESG investments to grow market share and improve transparency . Flexible work arrangements allow employees to select beginning and ending work times within a range of hours surrounding core operating hours of the business. 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). Company Profile WFC. In addition, Wells Fargo is committed to attracting, developing, and retaining the best-qualified, most diverse group of employees. Im excited to coordinate existing ESG efforts and identify niche strategies and product opportunities for our clients across M&A, lending, and more. News, insights and perspectives from Wells Fargo are also available at WellsFargo Stories. ServiceNow. ESG propositions had a positive impact on equity returns 63% of the time [McKinsey], 16. We disclose our ESG strategy, policies and practices in our Annual Report and Proxy Statement. 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. 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. 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