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Wells FargoUnited States

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Last update: 2024-11-20 14:53:14
Wells Fargo's headquarters. Photo: Laimerpramer via Wikimedia (CC BY SA 3.0)

Active

This profile is actively maintained
Last update: 2024-11-20 14:53:14
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About
Website http://www.wellsfargo.com/
Headquarters
420 Montgomery Street
CA 94104 San Francisco
United States
CEO/chair Charles W. Scharf
CEO and President
Supervisor
Federal Reserve
Ownership
listed on NYSE

Wells Fargo's complete shareholder structure can be accessed here.

Wells Fargo is a US financial services company which was founded in 1852. The Bank is headquartered in San Francisco. Wells Fargo serves more than 70 million customers and has offices in 32 countries. The financial institution provides banking, investment, mortgage products and services, and consumer and commercial finance.

Sustainability
Commitments
Policies
Voluntary standards

Wells Fargo's most important sustainability commitments can be found at the website sections listed below.

Links

Corporate responsibility

Human rights statement

Bank policy
2022-09-06 00:00:00 | Wells Fargo

Modern Slavery Statement

Bank policy
2022-08-29 00:00:00 | Wells Fargo

Environmental and Social Impact Management Framework

Bank policy
2022-08-18 00:00:00 | Wells Fargo

2030 targets for oil & gas and power sectors

Bank policy
2022-05-04 00:00:00 | Wells Fargo

Code of Ethics and Business Conduct

Bank policy
2021-04-30 00:00:00 | Wells Fargo

Indigenous Peoples Statement

Bank policy
2020-07-15 00:00:00 | Wells Fargo

Supplier Code of Conduct

Bank policy
2016-07-27 00:00:00 | Wells Fargo
Wells Fargo has committed itself to the following voluntary standards:
Business for Social ResponsibilityTags: corporate social responsibility
Carbon Disclosure ProjectTags: carbon | climate change | greenhouse gas emissions
Carbon PrinciplesTags: carbon | climate change | greenhouse gas emissions
Global Reporting InitiativeTags: sustainable development | human rights
Net-Zero Banking Alliance (NZBA)Tags: climate change | corporate social responsibility | energy | energy plants
Taskforce on Nature-related Financial Disclosures (TNFD)Tags: corporate social responsibility | finance
UNEP Finance InitiativeTags: United Nations | sustainable development
Dodgy Deals

Wells Fargo is linked to a number of companies and projects that BankTrack considers controversial (so called Dodgy Deals), e.g. as a current or past financier or through an expression of interest. The profiles below provide more details on the nature of Wells Fargo's link to these deals.

Projects / Companies
Finance type
Year
News
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External
Blog
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Major ‘coal banks’ refuse to stop financing coal power boom in Asia

To stop a wave of new coal development across Asia, the End Coal Finance coalition is asking likely financiers to pledge not to back new coal power projects.
2024-11-14 | Nijmegen | BankTrack, Inclusive Development International, Recourse
Blog
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Sierra Club finds major US banks are climate laggards, recommends steps to meet net-zero commitments

Largest US banks committed to net-zero emissions by 2050, not yet on track to make it happen
2024-10-09 | Sierra Club
Blog
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Energy supply financing ratios: the next milestone in banks’ climate strategy

The energy supply financing ratio is a key indicator that synthesizes two major challenges in limiting global warming to 1.5°C: the phase-out of fossil fuels and the development of sustainable alternatives.
2024-10-07 | Reclaim Finance
Blog
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Banks must overhaul climate targets to deliver emissions cuts, new analysis finds

Reclaim Finance is urging banks to rethink their targets, and in particular to jettison the widely used “financed emissions” and “facilitated emissions” targets.
2024-09-19 | Reclaim Finance
Blog
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BankTrack set to publish 2024 Global Human Rights Benchmark in November

50 of the world’s largest banks were invited to provide feedback on draft assessments of their human rights disclosures
2024-07-23 | Nijmegen, Netherlands | Giulia Barbos – BankTrack
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Gulf Coast residents and major organizations call on financial institutions to phase out financing of LNG projects in the Rio Grande Valley

“We will hold any financial institutions that choose to support these projects accountable for such impacts.”
2024-07-22 | New York City | Sierra Club
Blog
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Biggest banks finance more carbon pollution than emissions of Italy, Germany, France and UK combined

New report by ReCommon exposes carbon pollution financed by the world’s biggest banks ahead of G7 finance ministers meeting
2024-05-21 | Rome, Italy | ReCommon
Blog
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Banks financed fossil fuels by $6.9 trillion dollars since the Paris Agreement; $705 billion provided in 2023 alone; JPMorgan Chase, Mizuho, and Bank of America are worst 3 funders

Annual Banking on Climate Chaos report with an updated methodology offers comprehensive look at who’s bankrolling the climate crisis
2024-05-13 | BankTrack, urgewald, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance, Sierra Club
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Top 6 U.S. Banks Financed Fossil Fuels with $1.8 trillion Since the Paris Agreement; Chase, Citi, & Bank of America Top the List Worldwide

BankTrack mentioned
2024-05-12 | Public now
Blog
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Banks have not quit coal, 8 years after the Paris Agreement

Banks in China dominate global coal financing; those in Indonesia are outliers in having increased finance for coal since 2016
2024-05-03 | Nijmegen | Will O'Sullivan – BankTrack
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Citi, JPMorgan, Wells Fargo to face AGM challenges over indigenous rights impact

Shareholder proposals will demand greater transparency and adherence to international human rights standards
2024-04-26 | The Banker
Blog
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New study: Financing for industrial livestock undermines U.S. banks’ climate commitments

Bank of America, Citigroup, and JPMorgan Chase responsible for more than half of the $134 billion in financing examined in the report
2024-04-10 | Washington D.C. | Friends of the Earth, Profundo
Blog
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Citi increases transparency, but fails to disclose clear net-zero transition plan

World’s second largest fossil fuel banker reveals most oil & gas clients not aligned with net-zero
2024-03-28 | New York | Sierra Club
Blog
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The banks financing dirty steel

The world’s major banks continue to support the largest and most polluting steel producers
2024-03-26 | Paris, France | Reclaim Finance
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UK banks urged to end finance to company behind Rosebank oil field development

BankTrack mentioned
2024-03-20 | The Independent
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Banks financing company behind controversial Rosebank oil field despite climate pledges

HSBC, Lloyds, NatWest and BNP Paribas are financing major North Sea oil expander Ithaca Energy, despite pledges to stop propping up new fossil fuel projects
2024-03-20 | London | BankTrack, #StopRosebank
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New guidelines for Net-Zero Banking Alliance: too little, too late, too slow

The new guidelines for the Net Zero Banking Alliance leave too much latitude to its member banks not to achieve net-zero greenhouse gas emissions by 2050.
2024-03-14 | Nijmegen | BankTrack
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Major US banks leave global environmental and social standards group

JPMorgan Chase, Bank of America, Citi, and Wells Fargo have left the Equator Principles as the organization undergoes change, giving rise to questions about its future as a global standard and what the U.S. banks will do.
BankTrack mentioned
2024-03-06 | Devex
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Wall Street Makes Zero Progress in Energy Finance Transition

The industry needs to get to a 4-to-1 ratio of clean energy versus fossil-fuel financing. At the end of last year, it was 0.73 to 1—little changed from 2021.
2023-12-14 | Bloomberg
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Investing in Extinction - How the global financial sector profits from traditional medicine firms using threatened species

2023-10-23 | Environmental Investigation Agency
Blog
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New report: Major global banks are financing deadly US coal plants thanks to loopholes in their climate commitments

Banks continue to fund utility parent companies, despite policies to restrict loans to coal plants
2023-09-01 | Sierra Club
Blog
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Will US banks become the next target for activists fighting the Mountain Valley Pipeline?

2023-08-28 | BankTrack, 7 Directions of Service, Protect Our Water, Heritage, Rights (POWHR), Rainforest Action Network
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Decarbonization: steel not making the cut

Analysis by Reclaim Finance shows that few financial institutions have steel targets, and that those that have been adopted are riddled with flaws
2023-08-23 | Reclaim Finance
Blog
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New report: US banks’ role in capital markets reveals a hidden pipeline for fossil fuel financing

Wall Street banks quietly raise billions for polluting companies through underwriting activities
2023-07-24 | New York | Sierra Club
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US banks and climate-related policy: How the sector engages on sustainable finance and real economy climate policies

New report from InfluenceMap
2023-06-29 | InfluenceMap
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One silver lining in otherwise disappointing shareholder season at big US banks

Unprecedented levels of support for proposals calling on banks to disclose how they plan to meet their climate commitments
2023-06-09 | Sierra Club
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European banks have a dirty climate secret – but a new initiative could make them come clean

Banks are keeping most of their fossil fuel financing off the books
2023-06-02 | ShareAction
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Bank of America, Citigroup, and Wells Fargo shareholders vote on proposals urging progress on climate & Indigenous rights

2023-05-01 | New York | Sierra Club
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Wall Street’s biggest banks failing key ESG test in fresh study

JPMorgan, BofA, Citi are listed as falling short in analysis. Study also singles out Goldman, Morgan Stanley and Wells Fargo
2023-04-13 | Bloomberg
Blog
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New report: Canadian bank RBC the #1 financier of fossil fuels, world’s biggest banks continued to pour billions into fossil fuel expansion

Annual Banking on Climate Chaos report follows the money and details massive bank support for the world’s worst climate-destroying corporations
2023-04-13 | San Francisco | BankTrack, urgewald, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance, Sierra Club
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Global banks pledged to cut emissions – but still invest billions in US gas exports

Many banks promised to work toward net-zero emissions – but their targets explicitly exempt liquefied natural gas projects
2023-04-06 | The Guardian
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Climate resolutions on tap for bank shareholder season

Activist stakeholders are ramping up pressure on big lenders to curb fossil fuel lending.
2023-04-05 | Climate Wire
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Who dares to finance Eni and Exxon’s dangerous Rovuma gas plans in Mozambique?

Two banks made clear they will avoid financing Rovuma LNG, but plenty remain in the frame.
2023-03-20 | BankTrack, Justiça Ambiental (JA!)/Friends of the Earth Mozambique, Les Amis de la Terre France, ReCommon
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These ‘Net-Zero’ Banks Are Still Pretty Big on Big Oil

A BloombergNEF study reveals how energy financiers that pledged to move away from fossil fuels are way behind.
2023-03-01 | Bloomberg
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Throwing fuel on the fire: GFANZ members provide billions in finance for fossil fuel expansion

2023-01-17 | Paris, France /Nijmegen, Netherlands | BankTrack, Reclaim Finance
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The number of major banks refusing to support EACOP reaches 24

2022-12-31 | BankTrack
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JPMorgan announces new climate targets covering aviation, cement

2022-12-22 | Bloomberg
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Right-wing attack on sustainable finance is the latest form of climate denial

Don’t believe the hype about “woke capitalism”
2022-12-08 | Washington, DC | Ben Cushing, Sierra Club
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New human rights assessment of banks shows slow progress and lack of action to address key gaps on reporting and remedy

BankTrack’s 2022 Global Human Rights Benchmark finds reporting at a standstill, remedy still lacking and no clear leaders
2022-11-17 | BankTrack
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These U.S. banks are financing climate chaos through fossil fuel expansion

An overview of RAN's new report, Wall Street’s Dirtiest Secret: How fossil fuel expansion depends on big bank finance
2022-11-10 | Rainforest Action Network
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JPMorgan Chase and 5 other U.S. megabanks behind one-third of global funding to expand coal, oil and gas

Potential emissions from already developed fields take the world well past 1.5°C of warming, Rainforest Action Network says
2022-11-09 | MarketWatch
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Leaders or laggards? Report analyzes net-zero pledges of US banks

Commitments, actions from 6 biggest banks fall far short of what’s needed for global climate goals
2022-11-02 | New York | Sierra Club
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US banks: Financing coal expension, ignoring climate emergency

2022-09-19 | Reclaim Finance
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Jackdaw shows once again Shell is failing on climate. So why are its bankers failing to act?

2022-07-19 | The Hague, The Netherlands | Sumeyra Arslan – BankTrack
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Banks have arranged US$2.7 trillion in bonds for fossil fuel companies

2022-07-12 | Australia | The Sunrise Project
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As peak hurricane season looms, banks bolster cozy relationship with fossil fuel industry

2022-07-12 | Louisiana, USA | Louisiana Illuminator
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What’s next in the growing movement to push banks on climate action?

Surveying the financial landscape as AGM season winds down in the US
2022-06-06 | Sierra Club
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New Report: Financing a Fossil Future – Tracing the Money Pipeline of Fossil Gas in Southeast Asia

Southeast Asia is spiraling into a fossil future thanks to a massive fleet of gas projects
2022-06-03 | Center for Energy, Ecology, and Development (CEED)
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Climate groups call on Shell’s bankers to stop Jackdaw gas field

UK government’s regulatory approval opens the door for Shell to move ahead with the Jackdaw field
2022-06-03 | BankTrack
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Seven financiers abandon TotalEnergies' EACOP pipeline in a week

Marsh McLennan revealed as insurance arranger as total number of banks steering clear grows to 20
2022-05-20 | Africa | BankTrack, #StopEACOP
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Marsh revealed in oil pipeline project shunned by leading banks and insurers

World’s largest broker takes on role of finding insurance despite protest from staff
2022-05-19 | FT
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This shareholder season, big banks are feeling the heat on climate

2022-04-19 | Sierra Club
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Opinion: Bank needs to put money where mouth is on climate change

2022-04-08 | Mike Tobin via Juneau Empire
Blog
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Gulf Coast communities fighting the massive buildout of fracked gas exports

A Banking on Climate Chaos 2022 case study
2022-04-05 | BankTrack, Rainforest Action Network, Sierra Club
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Investors ask banks to rethink funding fossil fuel projects, including Line 3

Banks are under pressure from investors to match corporate practices with their environment and social statements * Updated
2022-03-31 | IndianCountryToday
Blog
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New report: Despite ‘net zero’ rhetoric, world’s biggest banks continued to pour billions into fossil fuel expansion in 2021

Annual Banking on Climate Chaos report follows the money and details massive bank support for the world’s worst climate-destroying corporations
2022-03-30 | San Francisco, Bemidji, Nijmegen, Oakland, Paris, Sassenberg, Washington DC | BankTrack, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance, Sierra Club, Urgewald
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Largest U.S. banks to face shareholder votes on climate change

2022-03-29 | American Banker
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Wells Fargo's Human Rights Impact Assessment Leaves Shareholders Dissatisfied

A failure to publish the complete findings of the assessment has investors wondering about the integrity of the process and whether any learnings gleaned will inform much-needed reforms.
2022-03-14 | Interfaith Centre on Corporate Responsibility
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Top U.S. institutions are financing Russia war chest

Stand.earth research shows billions from BlackRock, Vanguard and others invested in Russian oil and gas
2022-03-01 | Traditional Lummi and Nooksack Land and Unceded and Coast Salish Territories (BELLINGHAM, WA) | Stand.earth
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Banks failing to address severe human rights impacts transparently, finds BankTrack research

Findings reinforce the need for regulators to ensure access to effective remedy for people affected by bank finance
2021-12-14 | Nijmegen | BankTrack
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New Report: US banks and investors responsible for roughly the emissions of Russia

CAP and Sierra Club look at “financed emissions” to offer novel view of Wall Street's carbon footprint
2021-12-14 | Washington | Sierra Club
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Meet the banks funding the owners of the Cambo oil field

New research shines a spotlight on the banks backing Shell and Siccar Point Energy
2021-10-29 | #StopCambo
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Equator Banks involved in financing at least 200 fossil fuel projects since Paris

BankTrack research sheds new light on finance for fossil fuels by Equator banks
2021-10-26 | BankTrack
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Wells Fargo joins Net-Zero Banking Alliance with no plan for phasing out fossil fuel finance

The announcement comes just days after the IEA released its annual World Energy Outlook, once again reaffirming that there can be no more fossil fuel expansion in a net-zero by 2050 scenario.
2021-10-15 | San Francisco | Sierra Club
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Stop the Money Pipeline launches Customers for Climate Justice

A new program by Stop the Money Pipeline
2021-09-30 | Stop the Money Pipeline
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Fossil Banks No Thanks demands banks commit to end fossil fuel finance before Glasgow Climate Summit

210+ groups support urgent call to action
2021-09-23 | BankTrack
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Climate change could cause the next great recession, the Biden administration can prevent it

2021-08-25 | Ben Cushing, Sierra Club
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New bank links to Myanmar junta and atrocities found

19 international banks together invest over US$65 billion in shares of companies with ties to the Myanmar military junta
2021-07-28 | BankTrack, Justice For Myanmar
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Formosa’s new St. James project is the real pest

2021-07-07 | The Big Easy
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Dear bank CEO, you are cordially invited to defund this pipeline

Anti-oil activists are turning their focus on fossil fuel funding, aiming to stop the flow of money for good.
2021-07-01 | Bloomberg Green
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Nine international banks invest over US$24 billion in companies linked to Myanmar regime and atrocities

Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, JPMorgan Chase, UBS, Credit Suisse, Morgan Stanley, Bank of America, Wells Fargo and BNP Paribas among the top banks investing in companies linked to the Myanmar military junta
2021-05-27 | BankTrack, Justice For Myanmar
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စစ်ကောင်စီနဲ့ဆက်စပ်တဲ့ ကုမ္ပဏီ ၁၈ ခုမှာ နိုင်ငံတကာဘဏ် ၉ ခု ပါဝင်ပတ်သက်နေ

(In Burmese) Nine international banks are involved in 18 companies affiliated with the military council
2021-05-27 | Radio Free Asia
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NEW: Wells Fargo top shareholders maintain status quo, fail to act on climate

Vanguard & BlackRock appear to vote to re-elect Board Chairman Charles Noski
2021-04-27 | Sierra Club
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Climate Chaos: NGOs Name Top Banks Who Put $3.8 Trillion Into Fossil Fuels

BankTrack mentioned
2021-03-24 | Forbes
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Banking on Climate Chaos 2021: World’s 60 largest banks have poured USD 3.8 trillion into fossil fuels since Paris Agreement

Even amidst the global economic downturn, fossil fuel financing numbers were higher in 2020 than 2016
2021-03-24 | Nijmegen | BankTrack, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance, Sierra Club
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Kerry to Wall Street: Put your money behind your climate PR

2021-03-12 | Politico
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Wells Fargo makes net zero commitment but does not rule out continued financing of fossil fuels

The announcement did not include any explicit details on how it will start cutting financed emissions to move toward its long-term target
2021-03-08 | BankTrack, Rainforest Action Network, Sierra Club
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Big banks make a dangerous bet on the world’s growing demand for food

While banks and asset managers are promising to divest from fossil fuels, they are expanding investments in high-carbon foods and commodities tied to deforestation.
2021-03-07 | Inside Climate News
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Bank lending to plastics industry faces scrutiny as pollution concerns mount

2021-01-07 | Reuters
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The battle to stop Line 3 is heating up on the ground and across the US

Activists around the US join national day of action to end financing for tar sands pipelines like Enbridge's Line 3
2020-12-14 | Maaike Beenes – BankTrack
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Equator Banks fail communities on consultation and grievance mechanisms, new study finds

BankTrack research into nine projects financed ‘under Equator’ finds routine failures to conduct proper community consultation and a lack of effective project-level grievance mechanisms
2020-11-24 | Nijmegen | BankTrack
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Bankrolling Extinction: The top 10 banks financing biodiversity loss

Report names HSBC, Bank of America, Mitsubishi Financial & others
2020-10-28 | portfolio.earth
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Oil scions rally wealthy peers to press banks on climate

2020-10-02 | Politico.com
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Fracking Fiasco: The banks that fueled the U.S. shale bust

New report names Wells Fargo and JPMorgan Chase as main players pouring big money into troubled industry
2020-09-24 | Oil Change International, Rainforest Action Network
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New BankTrack Equator Principles reporting tracking tool launched

2020-09-21 | BankTrack
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US banks are getting the message: Arctic drilling is bad business

2020-08-20 | Ben Cushing, Sierra Club
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Equator Principles requirements missing for most projects, finds new BankTrack study

Research into 37 projects financed 'under Equator' finds project-level grievance mechanisms or stakeholder engagement processes cannot be evidenced in 65% of cases
2020-08-11 | BankTrack
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Corporate Backers of the Blue: How Corporations Bankroll U.S. Police Foundations

2020-06-18 | LittleSis
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Where Banks Don’t Lend

In Chicago, lenders have invested more in a single white neighborhood than all the black neighborhoods combined. Call it modern-day redlining.
2020-06-03 | Chicago | WBEZ
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Major blow to Keystone XL pipeline as judge revokes key permit

Campaigners welcomed Wednesday’s ruling as a victory for tribal rights and environmental protection
2020-04-16 | The Guardian
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Stop the Money Pipeline: Private banks owning oil companies is a recipe for disaster

2020-04-10 | New York | Stop the Money Pipeline
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Reckless Keystone XL decision by TC Energy endorsed by JPMorgan Chase, Citi and Canadian peers

Big banks lead multi-billion dollar bond issuances days after company pushes pipeline forward amid global pandemic
2020-04-03 | San Francisco | 350 Seattle, Amazon Watch, Indigenous Environmental Network, Rainforest Action Network
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Global finance sector failing to apply conservation criteria to pulp and paper funding

2020-03-21 | New York/Amsterdam | Environmental Paper Network
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Four US banks are the world's largest fossil fuel financers: analysis

BankTrack mentioned
2020-03-18 | The Hill
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Banking on Climate Change – Fossil Fuel Finance Report Card 2020

New report reveals global banks funneled USD 2.7 trillion into fossil fuels Since Paris Climate Agreement, with financing on the rise each year 
2020-03-18 | Nijmegen | BankTrack, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance, Sierra Club
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Following Goldman Sachs and JPMorgan Chase announcements, Wells Fargo rejects funding for Arctic drilling

2020-03-02 | San Francisco | Sierra Club
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Big businesses face pressure to avoid investing in areas Trump wants to develop

A dozen-and-a-half senators wrote letters to 11 of the largest U.S. banks asking them to back down from financing any oil and gas activity in an unspoiled expanse of Arctic wilderness.
2020-02-03 | The Washington Post
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4 out of 5 banks failing on human rights, new BankTrack Human Rights Benchmark shows

Lloyds, Bank of America, Goldman Sachs and Société Générale among the poorest performers in BankTrack ranking, alongside Canadian and Chinese banks
2019-11-26 | BankTrack
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Top investment banks provide billions to expand fossil fuel industry

2019-10-13 | The Guardian
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Money is the oxygen on which the fire of global warming burns

BankTrack mentioned
2019-09-17 | The New Yorker
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Rio Grande Valley: Big banks urged not to back high risk fracked-gas export terminals

2019-08-14 | BankTrack
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Banks step away from US private prisons

2019-07-01 | BankTrack
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BankTrack 2019 Human Rights Benchmark: criteria and scope announced

2019-06-25 | Nijmegen | BankTrack
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US banks pledged to fund renewable energy, but they still spend way more on fossil fuels

2019-03-28 | Mother Jones
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Banks' fossil fuel funding rises, environmental groups warn

BankTrack mentioned
2019-03-21 | S&P Global
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Global Banks, Led by JPMorgan Chase, Invested $1.9 Trillion in Fossil Fuels Since Paris Climate Pact

2019-03-20 | Desmogblog.com
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Banking on Climate Change – Fossil Fuel Finance Report Card 2019

World's top banks have poured $1.9 trillion into fossil fuel financing since the Paris Agreement was adopted, with financing on the rise each year
2019-03-20 | Nijmegen, the Netherlands | BankTrack, Honor the Earth, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Sierra Club
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Every two weeks a bank, insurer or lender announces new coal restrictions

Major financial institutions restricting coal funding tops 100
2019-02-27 | IEEFA
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Banks massively financing fossil fuels unclear about future of ... fossil fuels

Few banks acknowledge relation between fossil fuels and climate breakdown
2018-12-20 | Nijmegen
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JPMorgan Chase, Wells Fargo and Crédit Agricole warned not to finance tar sands pipeline companies

Bank clients Enbridge and TransCanada have failed to secure Free, Prior and Informed Consent of Indigenous communities
2018-10-09 | San Francisco, USA | Rainforest Action Network
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New coal report finds troubling loopholes in existing bank policies

Analysis shows broad compliance with credit exposure reduction commitments – but six biggest US banks still increased coal financing In 2017
2018-08-16 | Rainforest Action Network
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As Banks and Investors Reject Arctic Drilling, Where is Wells Fargo?

2018-08-10 | Ben Cushing, Sierra Club
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USA: Govt. contractors accused of profiting from separation & detention of migrant & asylum seeking families

2018-07-25 | Business-humanrights.org
BankTrack news BankTrack blog Partner news Partner blog

U.S. court order stops some work on Mountain Valley natural gas pipeline in West Virginia

2018-06-25 | Reuters
Blog
BankTrack news BankTrack blog Partner news Partner blog

Big Banks Face Fossil Fuel Resistance at Annual Meetings

Guest blog by Ben Cushing, Campaign Representative Beyond Dirty Fuels
2018-06-07 | Ben Cushing, Sierra Club
Blog
BankTrack news BankTrack blog Partner news Partner blog

Iowans Hold Wells Fargo Accountable for Funding Dirty Fuels and Pipelines

2018-04-26 | United States | Ben Cushing, Sierra Club
BankTrack news BankTrack blog Partner news Partner blog

Wells Fargo could face $1 billion penalty for auto and mortgage abuses

2018-04-13 | New York | CNN Money
Blog
BankTrack news BankTrack blog Partner news Partner blog

Report finds major banks ramped up fossil fuel financing to $115 billion in 2017

Despite 2017 being the costliest year on record for weather disasters, new report reveals that banks increased extreme fossil fuel financing last year, led by a more than doubling in lending to tar sands companies and pipelines.
2018-03-28 | Nijmegen, the Netherlands | BankTrack, Honor the Earth, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Sierra Club
Blog
BankTrack news BankTrack blog Partner news Partner blog

JPMorgan Chase and Wells Fargo Double Down on Support for Dirty Tar Sands Pipelines

2017-12-18 | San Francisco | Greenpeace, Rainforest Action Network, Sierra Club
Blog
BankTrack news BankTrack blog Partner news Partner blog

Big banks complicit in massive tar sands destruction and pollution through hundreds of billions in financing

2017-11-02 | Rainforest Action Network
Blog
BankTrack news BankTrack blog Partner news Partner blog

Indigenous Groups Lead Movement to Call on Banks to Drop Enbridge’s Controversial Line 3 Pipeline

Tribal Nations based in Minnesota oppose the project and the Minnesota Department of Commerce has condemned it
2017-09-21 | Minneapolis, MN | Honor the Earth, Rainforest Action Network
Blog
BankTrack news BankTrack blog Partner news Partner blog

Greenpeace Investor Briefing: Problematic Pipelines

Investor risk from bank financing of tar sands pipelines
2017-09-20 | Greenpeace
Blog
BankTrack news BankTrack blog Partner news Partner blog

Financiers of pulp and paper industry projects will cause environmental and social harm, says new report

2017-08-01 | Mandy Haggith – Environmental Paper Network
Blog
BankTrack news BankTrack blog Partner news Partner blog

28 major banks warned not to finance Trans Mountain pipeline expansion

Over 20 Indigenous and environmental groups deliver urgent letter.
2017-06-09 | BankTrack, Rainforest Action Network, others
Blog
BankTrack news BankTrack blog Partner news Partner blog

The Money Behind the Mountain Valley Pipeline: Is Your Bank Financing Another Fracked-Gas Disaster?

2017-05-18 | Oil Change International
Blog
BankTrack news BankTrack blog Partner news Partner blog

Indigenous leaders launch new campaign to defund all four proposed tar sands pipelines

2017-05-09 | Turtle Island | Mazaska Talks
Blog
BankTrack news BankTrack blog Partner news Partner blog

Energy Transfer: Which banks continue to support the company behind DAPL?

2017-04-06 | Alison Kirsch - Rainforest Action Network
Blog
BankTrack news BankTrack blog Partner news Partner blog

Who's bankrolling TransCanada?

Banking on TransCanada means banking on Keystone XL
2017-03-24 | Alison Kirsch - Rainforest Action Network
BankTrack news BankTrack blog Partner news Partner blog

Post-truth reputational risk: the Wells Fargo saga

BankTrack mentioned
2017-03-16 | Global Trade Review
BankTrack news BankTrack blog Partner news Partner blog

Wells Fargo's Dakota Access Financing Prompts a Shareholder Vote

2017-03-15 | Bloomberg
Blog
BankTrack news BankTrack blog Partner news Partner blog

Financing of coal industry expansion by top banks undermining Paris Agreement

2016-11-14 | Marrakech, Morocco | BankTrack, Friends of the Earth France, Market Forces, Rainforest Action Network, urgewald
BankTrack news BankTrack blog Partner news Partner blog

Pipeline protest comes south

2016-10-21 | The Rapid City Journal
Blog
BankTrack news BankTrack blog Partner news Partner blog

New report finds banks betting on climate change

Seventh annual bank finance Report Card reveals major banks poured hundreds of billions into extreme fossil fuels
2016-06-14 | Nijmegen, San Francisco | BankTrack, Rainforest Action Network, Sierra Club and Oil Change International
Blog
BankTrack news BankTrack blog Partner news Partner blog

New BankTrack Human Rights Impact Briefing: Drummond and paramilitary violence in Colombia

2016-05-25 | Nijmegen | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Morgan Stanley and Wells Fargo cut coal financing, join growing movement by banks in U.S. and Europe

Rainforest Action Network calls on banks to end all financing for coal
2015-12-01 | San Francisco | Rainforest Action Network
BankTrack news BankTrack blog Partner news Partner blog

Wells Fargo, Morgan Stanley Join Banks Edging Away From Coal

2015-11-30 | Bloomberg
Blog
BankTrack news BankTrack blog Partner news Partner blog

Call for banks to divest from APRIL

Social conflict and environmental destruction are rife in its operations
2014-12-10 | Nijmegen | BankTrack, Mandy Haggith – Environmental Paper Network
Blog
BankTrack news BankTrack blog Partner news Partner blog

Banks not yet living up to UN human rights principles, finds BankTrack

New research finds inadequate reporting on human rights impacts, and failure to establish mechanisms to allow complaints.
2014-12-02 | Geneva | BANKTRACK
Blog
BankTrack news BankTrack blog Partner news Partner blog

'Record year' for bank coal financing as latest UN climate warning looms

2014-10-29 | Nijmegen | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Report Finds Top Banks Moving Away From Coal: Citigroup and Barclays seen as laggards

Fifth annual coal finance report shows JPMorgan Chase and Wells Fargo end financing for mountaintop removal coal
2014-04-17 | San Francisco | Rainforest Action Network
BankTrack news BankTrack blog Partner news Partner blog

Extreme Coal – No Longer Business as Usual

2014-04-17 | RAN
BankTrack news BankTrack blog Partner news Partner blog

Barclays and Citigroup Funded Worst of U.S. Coal Industry

BankTrack mentioned
2014-04-17 | Bloomberg
BankTrack news BankTrack blog Partner news Partner blog

Banks Move to Measure Their True Climate Impacts

2013-10-29 | RAN
Blog
BankTrack news BankTrack blog Partner news Partner blog

New Coal Finance Report Card Exposes Risk of Extreme Energy Investments

Banks pump $20 billion into coal despite U.S. coal industry decline and escalating climate impacts
2013-04-29 | San Francisco | Rainforest Action Network
BankTrack news BankTrack blog Partner news Partner blog

Extreme Investments: 2013 Coal Finance Report Card

2013-04-29 | RAN
BankTrack news BankTrack blog Partner news Partner blog

Equator Principles goes beyond project finance, improves transparency

2012-08-13 | Environmental Finance
BankTrack news BankTrack blog Partner news Partner blog

Banks Look to Burnish Their Images by Backing Green Technology Firms

2012-06-10 | The New York Times
BankTrack news BankTrack blog Partner news Partner blog

Environmental groups rate banks based on support of coal

2012-05-01 | United States of America | The State journal
Blog
BankTrack news BankTrack blog Partner news Partner blog

US banks risk public health and climate by financing coal

RAN and sierra club detail the “filthy five” banks in third annual “coal Finance report rard”
2012-05-01 | San Francisco, USA | Rainforest Action Network
Blog
BankTrack news BankTrack blog Partner news Partner blog

Bankrolling Climate Change

NGOs present groundbreaking research on banks’ involvement in coal financing
2011-11-30 | Durban | urgewald, Earthlife, BankTrack and groundWork
BankTrack news BankTrack blog Partner news Partner blog

Banktrack says BofA and Wells Fargo are killing the climate

2011-11-30 | Durban | clclt.com
BankTrack news BankTrack blog Partner news Partner blog

While BankTrack criticizes Equator Principles, IFC celebrates Community of Learning

2011-10-25 | Washington | prizmablog.com
BankTrack news BankTrack blog Partner news Partner blog

Time to Improve the Equator Principles, BankTrack Says

BankTrack mentioned
2011-10-24 | Washington | Social Funds
BankTrack news BankTrack blog Partner news Partner blog

BankTrack to Equator Principles banks; ‘get the Outside Job done’

Equator Principles update must lead to new Principles focused on people and planet
2011-10-23 | Washington | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Financiers search for sustainable future

BankTrack mentioned
2011-10-20 | Washington | Environmental Finance
Blog
BankTrack news BankTrack blog Partner news Partner blog

New report card exposes largest financers of mountaintop removal coal mining

2011-04-05 | San Fransisco | Rainforest Action Network
Blog
BankTrack news BankTrack blog Partner news Partner blog

Son of Equatorial Guinea’s dictator plans one of world’s most expensive yachts

2011-02-28 | London | Global Witness
Blog
BankTrack news BankTrack blog Partner news Partner blog

New report finds bank Carbon Principles did not curb financing of coal

Rainforest Action Network report finds implementation of the Carbon Principles lacking
2011-01-21 | San Fransisco | Rainforest Action Network
Blog
BankTrack news BankTrack blog Partner news Partner blog

Wall Street turns its back on Mountaintop Removal coal mining

2011 | BankTrack
BankTrack news BankTrack blog Partner news Partner blog

Banks grow wary of environmental risks

2010-08-31 | NY Times
BankTrack news BankTrack blog Partner news Partner blog

Banks toughen lending rules to coal, PNC & UBS still bucking the trend

Two banks take heat for continuing to fund Massey Energy and mountaintop removal mining
2010-08-27 | United States
Blog
BankTrack news BankTrack blog Partner news Partner blog

New rules for Equator Principles, but no new commitments from banks

New governance rules represent missed chance for Equator Principles to take bold steps forward on transparency and accountability
2010-07-01 | Nijmegen, the Netherlands | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

New report card, largest financers of Mountaintop Removal coal mining

PNC, JPMorgan Chase and UBS receive failing grades
2010-05-13 | San Francisco | Rainforest Action Network
Blog
BankTrack news BankTrack blog Partner news Partner blog

Equator Principles: Action, not words needed

BankTrack calls upon Citi, new chair of Equator Principles to take bold steps forward
2010-03-15 | Nijmegen, The Netherlands | BankTrack
BankTrack news BankTrack blog Partner news Partner blog

Protests against years of destructive investments at Wells Fargo AGM

2006-04-25 | San Francisco, USA | Rainforest Action Network
Resources
Documents
Links

NZBA 2024 Progress Report

Other document
2024-10-01 00:00:00 | NZBA

Climate Report 2024

Other bank document
2024-08-09 00:00:00 | Wells Fargo

UNSUPERVISED - The carbon pollution of the world’s largest banks

NGO document
2024-05-21 00:00:00 | ReCommon

Banking on climate chaos 2024

Fossil fuel finance report 2024
BankTrack publication
2024-05-13 00:00:00 | BankTrack, urgewald, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance & Sierra Club

Annual report 2023

Annual report
2024-05-06 00:00:00 | Wells Fargo

Still Banking on Coal press release

Commercial Banks Still Deep into Coal 8 Years After Paris
Partner publication
2024-05-02 00:00:00 | Urgewald

Open letter signed by 81 CSOs to financiers Ithaca Energy about Rosebank oil and gas field

NGO document
2024-03-19 00:00:00 | BankTrack, Stop Rosebank

Still Butchering the Planet

Partner publication
2024-03-18 00:00:00 | Feedback

Finance for War. Finance for Peace

How values-based banks foster peace in a world of increasing conflict
Other document
2024-02-28 00:00:00 | Banca Etica Group and the Global Alliance for Banking on Values (GABV)

Sustainability & Governance Report

Other bank document
2023-12-31 00:00:00 | Wells Fargo

TCFD Report

Other bank document
2023-08-02 00:00:00 | Wells Fargo

Why banks should account for their full share of facilitated emissions

Banks are making progress on setting net-zero targets but most focus on lending and only a handful include capital markets facilitation – funding activities where banks do not provide capital themselves but play a critical role in facilitating access to it. Capital markets are a vital source of funding and will be key in delivering the low-carbon transition. In 2021 alone, global bond and equity issuances stood at US$26.8 trillion. This memo outlines why the industry-organised Partnership for Carbon Accounting Financials should include a 100% weighting for capital market facilitation.
NGO document
2023-05-23 00:00:00 | ShareAction

Banking on Climate Chaos 2023

Annual Banking on Climate Chaos report follows the money and details massive bank support for the world’s worst climate-destroying corporations
BankTrack publication
2023-04-13 00:00:00 | Rainforest Action Network, BankTrack, Indigenous Environmental Network, Oil Change International, Reclaim Finance, Sierra Club, Urgewald

Annual report 2022

Annual report
2023-04-03 00:00:00 | Wells Fargo

Background briefing: Just 7% of global banks' energy financing goes to renewables, new data shows

BankTrack publication
2023-01-27 00:00:00 | Profundo for Sierra Club, Fair Finance International, BankTrack, Rainforest Action Network

BankTrack Global Human Rights Benchmark 2022

BankTrack publication
2022-11-17 00:00:00 | BankTrack

Wall Street's Dirtiest Secret

How fossil fuel expansion depends on big bank finance
NGO document
2022-11-09 00:00:00

Rio Grande Valley: At Risk From Fracked-Gas Exports 2022 Update

NGO document
2022-10-01 00:00:00 | Rainforest Action Network, Les Amis de la Terre, Save RGV, Carrizo Comecrudo Tribe of Texas

Environmental, Social, and Governance (ESG) Report

Annual report
2022-09-21 00:00:00 | Wells Fargo

Human rights statement

Bank policy
2022-09-06 00:00:00 | Wells Fargo

Modern Slavery Statement

Bank policy
2022-08-29 00:00:00 | Wells Fargo

Environmental and Social Impact Management Framework

Bank policy
2022-08-18 00:00:00 | Wells Fargo

Vaca Muerta Basin: An Oil & Gas Trap

IMF and global capital markets neglect the risk of ballooning Argentina’s debt and liability problem
NGO document
2022-07-29 00:00:00 | Profundo, 350.org Argentina

CSR report 2021

Annual report
2022-06-07 00:00:00 | Wells Fargo

Letter from BankTrack, 350.org, Bank on our Future and Uplift to 25 banks on Shell's proposed Jackdaw gas field

Correspondence
2022-06-03 00:00:00 | BankTrack, 350.org, Bank on our Future and Uplift

2030 targets for oil & gas and power sectors

Bank policy
2022-05-04 00:00:00 | Wells Fargo

Banking on Climate Chaos 2022

Despite ‘net zero’ rhetoric, world’s biggest banks continued to pour billions into fossil fuel expansion in 2021
BankTrack publication
2022-03-30 00:00:00 | Rainforest Action Network, BankTrack, Indigenous Environmental Network, Oil Change International, Reclaim Finance, Sierra Club, urgewald

Investor Statement on Line 3, Oil Sands Projects, and FPIC

Other document
2022-03-30 00:00:00 | Investors & Indigenous Peoples Working Group

Annual report 2021

Annual report
2022-03-29 00:00:00 | Wells Fargo

Priority Recommendations of the Wells Fargo Human Rights Impact Assessment and Actions in Response

Other bank document
2022-02-28 00:00:00 | Wells Fargo

Wall Street's carbon bubble: the global emissions of the US financial sector

NGO document
2021-12-14 00:00:00 | Sierra Club, Center for American Progress

Actions speak louder: Assessing bank responses to human rights violations

BankTrack publication
2021-12-14 00:00:00 | BankTrack

CSR Report 2020

Annual report
2021-07-06 00:00:00 | Wells Fargo

Critical climate votes 2021

There will be a number of important resolutions filed by shareholders at key companies in the banking, energy, and utilities sectors this proxy season.
NGO document
2021-05-06 00:00:00 | Critical Climate Votes

Code of Ethics and Business Conduct

Bank policy
2021-04-30 00:00:00 | Wells Fargo

Annual report 2020

Annual report
2021-03-16 00:00:00 | Wells Fargo

Wells Fargo Sets Goal to Achieve Net Zero Greenhouse Gas Emissions by 2050

Company to deploy $500 billion in sustainable financing by 2030, will work with clients to support low-carbon transition
Company document
2021-03-08 00:00:00 | Wells Fargo

"Trust Us, We're Equator Banks": Part II

BankTrack publication
2020-11-24 00:00:00 | BankTrack

Bankrolling Extinction: The top 10 banks financing biodiversity loss

NGO document
2020-10-28 00:00:00 | porfolio.earth

Fracking Fiasco: The banks that fueled the U.S. shale bust

NGO document
2020-09-24 00:00:00 | Rainforest Action Network

CSR report 2019

Annual report
2020-08-31 00:00:00 | Wells Fargo

Indigenous Peoples Statement

Bank policy
2020-07-15 00:00:00 | Wells Fargo

Annual report 2019

Annual report
2020-05-19 00:00:00 | Wells Fargo

Banking on Climate Change - Fossil Fuel Finance Report 2020

BankTrack publication
2020-03-18 00:00:00 | Rainforest Action Network, BankTrack, Indigenous Environmental Network, Oil Change International, Reclaim Finance, Sierra Club

Letter from BankTrack to Wells Fargo on the bank's progress on its fossil fuel finance since COP24

Correspondence
2019-12-10 00:00:00 | BankTrack

CSR Report 2018

Annual report
2019-08-16 00:00:00 | Wells Fargo

Fool's Gold

The financial institutions bankrolling Europe’s most coal-dependent utilities
NGO document
2019-05-21 00:00:00 | Europe Beyond Coal

The Wall Street Banks Still Financing Private Prisons

2019 Data Brief
NGO document
2019-04-30 00:00:00 | ITPI, Public Accountability Initiative, Center for Popular Deocracy

Annual General Meeting Shareholder Briefing Wells Fargo

BankTrack publication
2019-04-25 00:00:00 | BankTrack

The Wheels are Still Off at Wells Fargo

For thousands of front-line employees, Wells Fargo has not fixed its culture of fear and intimidation
NGO document
2019-03-01 00:00:00 | Committee for Better Banks

Annual Report 2018

Annual report
2019-02-15 00:00:00 | Wells Fargo

Business Standards Report

Other bank document
2018-12-31 00:00:00 | Wells Fargo

Letter from BankTrack and 120 organisations to Wells Fargo on Demands FBNT campaign

Correspondence
2018-10-16 00:00:00 | BankTrack and 120 organisations

Banking on coal mining

U.S. banks’ performance against their policies since 2015
NGO document
2018-08-31 00:00:00 | Rainforest Action Network

Shaping Our CSR Priorities

Other bank document
2018-05-31 00:00:00 | Wells Fargo

Annual Report 2017

Annual report
2018-03-31 00:00:00 | Wells Fargo

CSR report 2017

Annual report
2018-03-31 00:00:00 | Wells Fargo

How banks contribute to human rights violations: responses to the Business & Human Rights Resource Centre

NGO document
2018-02-28 00:00:00 | Business & Human Rights Resource Centre

Letter from Wells Fargo to Business and Human Rights Resource Centre, BankTrack on How banks contribute to human rights violations

Correspondence
2018-01-23 00:00:00 | Wells Fargo

Letter from RAN and 13 others to 14 banks that underwrote Kinder Morgan Canada IPO on warning to finance the IPO

Correspondence
2017-06-06 00:00:00 | Rainforest Action Network et al

Annual Report 2016

Annual report
2017-05-16 00:00:00 | Wells Fargo

Corporate responsibility interim report 2016

Other bank document
2017-03-26 00:00:00 | Wells Fargo

Letter from SumOfUs, As You Sow to Wells Fargo on Shareholder resolution to adopt a policy regarding the rights of indigenous people

Download from: https://www.sec.gov/Archives/edgar/data/72971/000138713117001629/sumofus-px14a6n_032317.htm
Correspondence
2017-03-23 00:00:00 | SumOfUs, As You Sow

Letter from 500 organisations to Wells Fargo on financing DAPL

Correspondence
2016-11-30 00:00:00 | 500 organisations

Supplier Code of Conduct

Bank policy
2016-07-27 00:00:00 | Wells Fargo

Shorting the Climate

Fossil Fuel Finance Report Card 2016
BankTrack publication
2016-06-14 00:00:00 | BankTrack, Rainforest Action Network, Sierra Club, Oil Change International

Green Paper, Red Lines

Requirements for pulp and paper industry finance
BankTrack publication
2016-06-02 00:00:00 | BankTrack, Environmental Paper Network

Human Rights Impact Briefing #2: Drummond and paramilitary violence in Colombia

BankTrack publication
2016-05-25 00:00:00 | BankTrack

Financing Climate Chaos

How Minnesota’s Banking Giants Prioritize Profit in the Face of Climate Change
NGO document
2015-10-05 00:00:00 | MN 350

The end of coal?

2015 Coal Finance Report Card
BankTrack publication
2015-05-04 00:00:00 | BankTrack, Rainforest Action Network, Sierra Club

Letter from EPN to Banks investing in April on APRIL

Correspondence
2014-12-10 00:00:00 | EPN

Banking on Coal 2014

BankTrack publication
2014-10-29 00:00:00 | BankTrack

Coal Finance Report Card 2014

Extreme Investments; Extreme Consequences
BankTrack publication
2014-04-17 00:00:00 | Rainforest Action Network, Sierra Club, BankTrack

Coal Finance Report Card 2013

Extreme investments - US Banks and the Coal Industry
BankTrack publication
2013-04-29 00:00:00 | Rainforest Action Network, Sierra Club, BankTrack

Worldwide investments in Cluster munitions, a shared responsibility

NGO document
2012-06-20 00:00:00 | IKV Pax Christi & FairFin

Coal Finance Report Card 2012

Dirty Money, U.S. Banks at theBottom of the Class
BankTrack publication
2012-05-01 00:00:00 | Rainforest Action Network, Sierra Club, BankTrack

Policy and Practice

2011 report card on banks and mountaintop removal
BankTrack publication
2011-04-05 00:00:00 | BankTrack, Rainforest Action Network, Sierra Club

The Principle Matter - Banks, Climate and the Carbon Principles

NGO document
2011-01-21 00:00:00 | Rainforest Action Network

Letter from BankTrack to EPFIs on issues around Equator Principles Review process

Correspondence
2010-12-18 00:00:00 | Banktrack

Policy and Practice: report card on banks and mountaintop removal

BankTrack publication
2010-05-13 00:00:00 | Rainforest Action Network, Sierra Club, BankTrack

Letter from Wells Fargo to RAN, Sierra Club, BankTrack on Mountaintop Removal

Correspondence
2010-04-30 00:00:00 | Wells Fargo

Mountaintop Removal request for information letter sent to Wells Fargo

Correspondence
2010-04-14 00:00:00 | RAN, Sierra Club, BankTrack

Worldwide investments in CLUSTER MUNITIONS, a shared responsibility

NGO document
2009-10-01 00:00:00 | Netwerk Vlaanderen, et. al.

Meek Principles for a Tough Climate

Why the Climate and Carbon Principles will not stop the melting of the ice
BankTrack publication
2009-03-01 00:00:00 | BankTrack
Accountability
Grievances
Response tracking

Wells Fargo does not operate a complaints channel for individuals and communities that may be adversely affected by its finance.

Customers, however, can make a complaint via the bank's customer services. Stakeholders may raise complaints via the OECD National Contact Points (see OECD Watch guidance).

This page evaluates Wells Fargo's responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".

Impacts reviewed
Responded?
Total score
Response
Action
Monitoring
Myanmar: Equity exposure to companies linked to the military regime (October 2021)
0
0
0
0
Dodgy Deal profile
Response
0
Out of 1
Rationale for score
The bank did not respond.
Action
0
Out of 1
Rationale for score
No information available on whether the bank engaged with its client or investee companies or took appropriate action.
Monitoring
0
Out of 1
Rationale for score
No information available about whether the bank monitored progress.
More info
New bank links to Myanmar junta and atrocities found, July 28, 2021
Drummond and paramilitary violence in Colombia (May 2016)
0
0
0
0
Dodgy Deal profile
Response
0
Out of 1
Rationale for score

The bank publicly responded stating that "as a general rule, Wells Fargo does not disclose details regarding specific relationships".

Following the bank's response: The score remains unchanged.

Action
0
Out of 1
Rationale for score

The bank provided no detail on whether it engaged with its client or took approriate action.

Following the bank's response: The score remains unchanged.

Monitoring
0
Out of 1
Rationale for score

No information available on whether the bank monitored progress.

Following the bank's response: The score remains unchanged.

More info
BankTrack Human Rights Briefing, May 2016
Average
50%
0
0
0
0
Banks and Climate

Banks and Climate

The 2024 Banking on Climate Chaos report showed that Wells Fargo provided US$ 296.247 Billion in financing to the fossil fuel industry between 2016 and 2023. In 2023 only, Wells Fargo provided US$ 11.752 Billion for oil, gas and coal companies expanding fossil fuels. Find further details on Wells Fargo fossil fuel portfolio and how it compares to other large banks globally on Fossil Banks No Thanks and in the Banking on Climate Chaos report.

Fossil fuel finance data Wells Fargo

Banking on Climate Chaos fossil fuel finance data

Partner organisation Reclaim Finance tracks the coal, oil and gas policies of financial institutions, including banks, in their Coal Policy Tool (CPT) and the Oil and Gas Policy Tracker (OGPT). BankTrack works closely with Reclaim Finance and endorses their policy assesments. Find further details on their assessment of Wells Fargo’s fossil fuel policy below.

Assessment of Wells Fargo coal policy in the Coal Policy Tool

Assessment of Wells Fargo oil and gas policy in the Oil and Gas Policy Tracker
Banks and Human Rights

Banks and Human Rights

BankTrack assessed Wells Fargo in its 2022 Global Human Rights Benchmark, where it achieved 5.5 points out of 14 and was ranked as a follower. In addition, Wells Fargo scored 0 out of 3 on how it responds to alleged human rights violations linked to its finance, which were raised by civil society organisations. More information is detailed in the "Accountability" section of this profile.

The BankTrack Human Rights Benchmark

Global Human Rights Benchmark 2022

BankLast update
Country
Score
Ranking
Details
Wells Fargo
USA
5.5
Follower 5.5
Explanation
Laggard
Follower
Front runner
Leader
0 - 3 points
3.5 - 6.5 points
7 - 10 points
10.5 - 14 points
For more details see this page.
Tracking the NZBA

Tracking the Net Zero Banking Alliance

Wells Fargo is a member of the Net Zero Banking Alliance (NZBA) and has therefore committed to reduce its financed emissions to net zero by 2050; within 18 months of joining the alliance set interim targets for 2030 (or sooner) for high emission priority sectors, and within 36 months set further sector targets; set new intermediary targets every 5 years from 2030 onwards; annually publish data on emissions and progress against a transition strategy including climate-related sectoral policies; and take a robust approach to the role of offsets in transition plans. BankTrack track's implementation of these commitments in the NZBA compliance tracker.

 

Tracking NZBA banks commitments
Banks and Steel

Banks and Steel

According to a report by Reclaim Finance, between 2016 and June 2023, Wells Fargo provided $5.9 billion in finance to the fossil-steel industry, making it the 23rd largest financier worldwide. Find further details on Wells Fargo's steel financing and how it compares to other large banks globally in the report. 

Steeling our future: The banks propping up coal-based steel