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 about 2,372,000 kg CO2e for Scope 2 (market-based). The combined total for Scope 1 and 2 emissions reached about 81,657,000 kg CO2e. In 2023, the bank's emissions were slightly higher, with Scope 1 at approximately 82,410,000 kg CO2e and Scope 2 (market-based) at about 3,633,000 kg CO2e, leading to a total of around 86,044,000 kg CO2e for Scope 1 and 2. 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 Scope 2 emissions. This target follows a previous commitment to reduce emissions by 45% from a 2008 baseline by 2020, which reflects the bank's ongoing efforts to enhance operational sustainability. The bank's emissions data is sourced directly from Wells Fargo & Company, with no cascaded data from parent or related organizations. As part of its long-term strategy, Wells Fargo has committed to achieving net-zero emissions across all scopes by 2050, aligning with industry standards for climate action.
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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?
How Carbon Intensive is Wells Fargo's Location?
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