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 1,200,000,000 kg CO2e, with significant contributions from Scope 3 emissions, which accounted for about 1,300,698,000 kg CO2e. Specifically, their Scope 1 emissions were about 77,476,000 kg CO2e, and Scope 2 emissions totalled approximately 4,424,000 kg CO2e (market-based). Wells Fargo has set ambitious climate commitments, aiming to reduce its Scope 1 and 2 greenhouse gas emissions by 70% from 2019 levels by the year 2030. This goal follows a previous commitment to reduce emissions by 45% from a 2008 baseline, which was targeted for completion by 2020. Additionally, the bank has pledged to achieve net-zero greenhouse gas emissions across all scopes by 2050, including Scope 3 financed emissions. The bank's emissions reduction initiatives include a notable target for the power sector, aiming for a 63% reduction in portfolio emissions intensity by 2030. These commitments reflect Wells Fargo's ongoing efforts to enhance its sustainability practices and address climate change impacts effectively.
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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 |
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.
