Wells Fargo

Wells Fargo, a US-based commercial banking firm, reported its Scope 1 emissions for 2024 as approximately 79,285,000 kg CO2e, and its Scope 2 market-based emissions as about 2,372,000 kg CO2e. For 2023, Scope 1 emissions were around 82,410,000 kg CO2e, with Scope 2 market-based emissions at approximately 3,633,000 kg CO2e.

In 2022, Wells Fargo's Scope 1 emissions were approximately 77,476,000 kg CO2e, and Scope 2 market-based emissions were about 4,424,000 kg CO2e. The company also disclosed Scope 3 emissions for 2022, which included approximately 293,289,000 kg CO2e from capital goods, 27,403,000 kg CO2e from business travel, 289,051,000 kg CO2e from employee commute, 1,300,698,000 kg CO2e from purchased goods and services, 12,730,000 kg CO2e from waste generated in operations, and 123,938,000 kg CO2e from fuel and energy-related activities.

Wells Fargo has set several climate commitments. The company aims to reduce its Scope 1 and Scope 2 GHG emissions by 70% from 2019 levels by 2030. Additionally, they have a commitment to reduce absolute greenhouse gas emissions by 50% from 2019 levels by 2030 for both Scope 1 and Scope 2. Historically, Wells Fargo targeted a 45% reduction in Scope 1 and Scope 2 greenhouse gas emissions from a 2008 baseline by 2020. The company was also on target to reduce absolute greenhouse gas emissions by 35% below 2008 levels by 2020 for Scope 1 and Scope 2. Wells Fargo is also a signatory to the Science Based Targets initiative (SBTi) for Net-Zero, with a long-term target for all scopes by 2050.