Wells Fargo
Wells Fargo & Company, commonly known as Wells Fargo, is a leading financial services provider headquartered in the United States. Established in 1852, the company has grown to become a prominent player in the banking industry, with significant operations across North America and a presence in various international markets. Wells Fargo offers a diverse range of services, including personal and commercial banking, investment management, and mortgage lending. Its unique approach combines innovative technology with a commitment to customer service, setting it apart in a competitive landscape. The company has achieved notable milestones, including being one of the largest banks in the US by assets, reflecting its strong market position and reputation for reliability. With a focus on community engagement and sustainable practices, Wells Fargo continues to shape the future of banking.
DitchCarbon Score
How does Wells Fargo's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Wells Fargo's score of 51 is higher than 96% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Wells Fargo's reported carbon emissions
In 2022, Wells Fargo reported total greenhouse gas emissions of approximately 77476000 kg CO2e for Scope 1, 4424000 kg CO2e for Scope 2 (market-based), and a significant 1300698000 kg CO2e for Scope 3 emissions. The total emissions for Scope 1 and 2 combined amounted to about 81901000 kg CO2e (market-based). Wells Fargo has set ambitious climate commitments, aiming to reduce its Scope 1 and 2 emissions by 70% from 2019 levels by the year 2030. This follows a previous target of a 45% reduction from a 2008 baseline, which was set to be achieved by 2020. Additionally, the bank has committed to achieving net-zero greenhouse gas emissions by 2050, which includes addressing Scope 3 financed emissions. The bank's operational sustainability goals reflect a strong commitment to reducing its carbon footprint, with specific targets for both absolute and intensity reductions in emissions. For instance, they aim for a 63% reduction in portfolio emissions intensity in the power sector by 2030. Overall, Wells Fargo's climate strategy demonstrates a proactive approach to addressing climate change, aligning with industry standards and expectations for corporate responsibility in emissions management.
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| 2011 | 2018 | 2019 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|---|---|
| Scope 1 | 105,454,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 1,495,594,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 3 | 113,727,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Wells Fargo is participating in some of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
