Wells Fargo Sustainability Profile
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 67 is higher than 81% 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 2024, Wells Fargo reported total greenhouse gas emissions of approximately 79,285,000 kg CO2e for Scope 1 and 2 combined, with Scope 1 emissions at about 79,285,000 kg CO2e and Scope 2 emissions (market-based) at approximately 2,372,000 kg CO2e. The previous year, 2023, saw a total of about 82,410,000 kg CO2e for Scope 1 and 2, indicating a slight reduction in emissions. Wells Fargo has set ambitious climate commitments, aiming to reduce its greenhouse gas emissions by 70% from 2019 levels by 2030 for both Scope 1 and 2 emissions. This target reflects a significant commitment to operational sustainability and aligns with their broader climate strategy. Additionally, the bank previously aimed for a 45% reduction from a 2008 baseline by 2020, which underscores its ongoing efforts to mitigate its environmental impact. The company has not disclosed Scope 3 emissions data in recent reports, which typically encompass indirect emissions from the supply chain and other activities. However, Wells Fargo is committed to engaging suppliers to set science-based targets for their emissions, further enhancing its climate strategy. Wells Fargo's climate initiatives are supported by its membership in the Science Based Targets initiative (SBTi), where it has committed to achieving net-zero emissions across all scopes by 2050. This long-term goal reflects the bank's recognition of the urgent need for climate action and its role in the financial sector's transition to a sustainable future.
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| 2008 | 2009 | 2010 | 2011 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | 147,099,000 | 000,000,000 | 000,000,000 | 000,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 1,701,639,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 3 | 107,274,000 | 000,000,000 | 000,000,000 | 000,000,000 | 0,000,000,000 | - | - | 0,000,000,000 | 0,000,000,000 | - | - |
How Carbon Intensive is Wells Fargo's Industry?
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Wells Fargo's Scope 3 Categories Breakdown
Wells Fargo's Scope 3 emissions, which decreased by 4% last year and increased significantly since 2008, demonstrating supply chain emissions tracking. Nearly all of their carbon footprint comes from suppliers and value chain emissions, representing nearly all emissions under the GHG Protocol, with "Purchased Goods and Services" being the largest emissions source at 64% of Scope 3 emissions.
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Wells Fargo's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Wells Fargo has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
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Frequently Asked Questions
Common questions about Wells Fargo's sustainability data and climate commitments