Wells Fargo & Company, commonly known as Wells Fargo, is a leading player in the commercial banking industry, headquartered in the United States. Founded in 1852, the bank has established a significant presence across major operational regions, including the West Coast and the Midwest, serving millions of customers nationwide.
Wells Fargo offers a diverse range of financial services, including personal and business banking, investment management, and mortgage solutions. Its commitment to innovation and customer service sets it apart in a competitive market. Notably, Wells Fargo has achieved recognition for its extensive branch network and robust digital banking capabilities, making it a trusted choice for both individuals and businesses. With a rich history and a focus on community engagement, Wells Fargo continues to be a prominent force in the commercial banking sector.
-5 vs industry average
Wells Fargo’s score of 52 is lower than 45% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Commercial Banking is among the least carbon-intensive industries
Industry performance
The Commercial Banking industry has reduced its overall emissions by 36% since 2018
Emissions trajectory 2020 – 2027
Reported emissions
Scope 3 accounts for ••• of total emissions.
Wells Fargo's reported carbon emissions
Wells Fargo's most recent reported carbon emissions for 2024 indicate Scope 1 emissions of approximately 79,285,000 kg CO2e and Scope 2 market-based emissions of approximately 2,372,000 kg CO2e. For 2023, Scope 1 emissions were approximately 82,410,000 kg CO2e, and Scope 2 market-based emissions were approximately 3,633,000 kg CO2e. The company also reported Scope 2 location-based emissions of approximately 558,616,000 kg CO2e for 2023.
In 2022, Wells Fargo reported Scope 1 emissions of approximately 77,476,000 kg CO2e and Scope 2 market-based emissions of approximately 4,424,000 kg CO2e. Scope 3 emissions for 2022 included approximately 1,300,698,000 kg CO2e from purchased goods and services, 293,289,000 kg CO2e from capital goods, and 289,051,000 kg CO2e from employee commute.
Wells Fargo has established several climate commitments. The company previously aimed to reduce greenhouse gas emissions by 45% from a 2008 baseline by 2020 for both Scope 1 and Scope 2 emissions. More recently, Wells Fargo has set new operational sustainability goals for 2030, including reducing Scope 1 and 2 GHG emissions by 70% from 2019 levels. Additionally, they aim to reduce absolute greenhouse gas emissions by 50% from 2019 levels by 2030. The company is also committed to net-zero emissions by 2050.
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Wells Fargo’s Climate Goals (2030 & 2050)
2025
Near-zero scope 1 & 2
Target to achieve near-zero emissions for direct operations and purchased energy
2030
62% reduction in total GHG
Vs 2019 baseline. Validated by SBTi. Includes full supply chain.
2040
50% reduction in Scope 3 intensity
Across purchased goods and services and logistics.
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Scope 3 top emissions categories
6 of 15 categories disclosedSee all scope 3 categories
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Climate initiatives

Science Based Targets Initiative

Carbon Disclosure Project
The Climate Pledge
UN Global Compact Climate Champions initiative
RE 100
Climate Action 100
Emissions comparison with industry peers
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Common questions about Wells Fargo’s sustainability data and climate commitments
Data year: 2024
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