
Active
This profile is actively maintained
Active
This profile is actively maintainedWebsite | http://www.wellsfargo.com/ |
Headquarters |
420 Montgomery Street
CA 94104 San Francisco
United States
|
CEO/chair |
Charles W. Scharf CEO and President |
Supervisor | |
Ownership |
listed on NYSE
Wells Fargo's complete shareholder structure can be accessed here. |
Wells Fargo is a US financial services company which was founded in 1852. The Bank is headquartered in San Francisco. Wells Fargo serves more than 70 million customers and has offices in 32 countries. The financial institution provides banking, investment, mortgage products and services, and consumer and commercial finance.
Wells Fargo's most important sustainability commitments can be found at the website sections listed below.
Links
Wells Fargo is linked to a number of companies and projects that BankTrack considers controversial (so called Dodgy Deals), e.g. as a current or past financier or through an expression of interest. The profiles below provide more details on the nature of Wells Fargo's link to these deals.
Banks and Climate
The 2022 Banking on Climate Chaos report showed that Wells Fargo provided US$ 271.82 Billion in financing to the fossil fuel industry between 2016 and 2021. Find further details on Wells Fargo fossil fuel portfolio and how it compares to other large banks globally on Fossil Banks No Thanks and in the Banking on Climate Chaos report.
Banks and Human Rights
BankTrack assessed Wells Fargo in its 2022 Global Human Rights Benchmark, where it achieved 5.5 points out of 14 and was ranked as a follower. In addition, Wells Fargo scored 0 out of 3 on how it responds to alleged human rights violations linked to its finance, which were raised by civil society organisations. More information is detailed in the "Accountability" section of this profile.
Global Human Rights Benchmark 2022
Tracking the Net Zero Banking Alliance
Wells Fargo is a member of the Net Zero Banking Alliance (NZBA) and has therefore committed to reduce its financed emissions to net zero by 2050; within 18 months of joining the alliance set interim targets for 2030 (or sooner) for high emission priority sectors, and within 36 months set further sector targets; set new intermediary targets every 5 years from 2030 onwards; annually publish data on emissions and progress against a transition strategy including climate-related sectoral policies; and take a robust approach to the role of offsets in transition plans. BankTrack track's implementation of these commitments in the NZBA compliance tracker.