Wells Fargo has published its 2020 Social Impact and Sustainability Highlights \report, providing an update on the company’s social and environmental activities and progress during 2020 to support an inclusive, sustainable economic recovery, including contributions to COVID-19 relief, racial equity and inclusion, and climate change. The new report is part of a suite of resources and public disclosures on important Environmental, Social, Governance (ESG) topics, including the company’s annual ESG report, and inaugural Task Force on Climate-Related Financial Disclosures Report, released in February 2021, which provides an update on the company’s progress in managing climate-related risks and opportunities.
“Climate change is one of the most significant environmental and social issues of our time. In early 2021, Wells Fargo announced an ambitious goal — to align our business activities with the goals of the Paris Climate Agreement and achieve net-zero greenhouse gas emissions by 2050, including our financed emissions,” said Nate Hurst, Head of Social Impact and Sustainability. “The journey to net-zero is a complex one, and we’ve identified concrete first steps, which include measuring, disclosing, and setting targets for emissions in high-carbon sectors; accelerating the deployment of capital to support low-carbon opportunities; and innovation in climate finance.”