Greenhouse by wells fargo

Company to deploy $500 billion in sustainable financing by 2030, will work with clients to support low-carbon transition Wells Fargo today announced a major step in its efforts to support the transition to a low-carbon economy by setting a goal of net zero greenhouse gas emissions — including its financed emissions — by 2050. To help meet this ambitious goal, Wells Fargo will measure and disclose financed emissions for select carbon-intensive portfolios; set interim emission reduction targets; deploy more capital to finance climate innovation; and continue to work with its clients on their own emissions reductions efforts. The company will also launch an Institute for Sustainable Finance to manage the deployment of $500 billion of financing to sustainable businesses and projects by 2030, as well as support science-based research on low-carbon solutions and advocate for policies that enable client transitions. This press release features multimedia. View the full release here: (Graphic: Wells Fargo) “Climate change is one of the most urgent environmental and social issues of our time, and Wells Fargo is committed to aligning our activities to support the goals of the Paris Agreement and to helping transition to a net zero carbon economy,” said Wells Fargo CEO Charlie Scharf. “The risks of not taking action are too great to ignore, and collective action is needed to avoid the significant impact on our most vulnerable communities. We have a responsibility to help find solutions and are committed to deploying our resources and working closely with our clients in this transition.” Wells Fargo outlined five areas of focus: Setting a goal to achieve net zero greenhouse gas emissions by 2050 Net zero goal includes Scopes 1, 2, and 3 financed emissions*. Wells Fargo achieved carbon neutrality in its operations (Scopes 1 and 2) in 2019. Committing to disclose the company’s financed emissions measurement approach and provide more robust emissions data Disclose its approach to measuring Scope 3 financed emissions within a year. Enhance transparency and disclose financed emissions for select carbon intensive portfolios — including the oil and gas sectors, and power sector — no later than the end of

Has accelerated sustainable finance across lines of business, providing $157 billion in financing to sustainable business and projects since 2012. Recent highlights include reaching $10 billion in renewable energy financing and serving as a lead underwriter on sustainability-designated bonds , including two of the top five in municipal markets over the last three years. Wells Fargo has established senior Environmental, Social, and Governance roles within the enterprise and across lines of business and staff functions to further advance its efforts. Wells Fargo’s robust Environmental and Social Risk Management (ESRM) policies consider the full spectrum of risk when reviewing transactions with customers in certain sensitive industries, including oil and gas, and utilities. The company updates its ESRM policies as its understanding of social and environmental risks evolves, and seeks to adhere to global best practices for managing these risks. In communities, Wells Fargo collaborates with leading government and nonprofit organizations to advance clean technology innovation , community resiliency (PDF) , and green jobs . Its award-winning Wells Fargo Innovation Incubator is a collaboration with the U.S. Department of Energy’s National Renewable Energy Lab, and the company recently became a founding partner of the Rocky Mountain Institute’s Center for Climate Aligned Finance, which seeks to assist financial institutions in bringing portfolios of lending and investment activities in alignment with 1.5°C-consistent emissions pathway. For more information on Wells Fargo’s approach to managing climate risk, please see the company’s 2020 TCFD Report. Additional sustainability perspectives can be found at Wells Fargo Stories . * Greenhouse gas emissions are categorized into three groups or 'Scopes' by the most widely used international accounting tool, the Greenhouse Gas (GHG) Protocol. Scope 1 covers direct emissions from owned or controlled sources. Scope 2 covers indirect emissions from the generation of purchased electricity, steam, heating and cooling consumed by the reporting company. Scope 3 includes all other indirect emissions that occur in a company’s value chain. ** In 2018, Wells Fargo announced its $200 billion sustainable finance commitment and updated the methodology for how it tracks progress. The 2018-2020 results are not comparable to previously reported results for the

Consumer debit and credit card customers can now earn cash back by shopping at popular merchants nationwide SAN FRANCISCO--(BUSINESS WIRE)--Today, Wells Fargo (NYSE: WFC) announced the launch of My Wells Fargo Deals, a program offering cash back to consumers with an eligible Wells Fargo debit or credit card. Customers can activate the cash back deals by accessing My Wells Fargo Deals through Wells Fargo Online® banking or the Wells Fargo Mobile® app. Deals from participating merchants across the U.S. will be available to customers based on their purchase history. Customers who have an American Express Wells Fargo credit card will have access to additional exclusive offers through the same portal via dedicated “Amex Offers.” My Wells Fargo Deals complements Wells Fargo’s robust Go Far® Rewards credit card rewards program. “Consumers today want to receive more value for their everyday spending in a simple, easy-to-earn fashion,” said Sarah Phelps, head of Loyalty Solutions for Wells Fargo’s Cards, Retail, and Merchant Services business. “My Wells Fargo Deals provides our customers a trusted and convenient way to earn cash back by shopping at many of their favorite local and national merchants. Customers can take advantage of deals by simply activating an offer, without having to hunt online for a coupon code. Then, when they shop at the merchant and meet the requirements of the offer, the cash back is credited to the account associated with the card. It puts customers in control while building on our commitment to deliver simple experiences and value.” Driven by consumer demand for a simple rewards experience, My Wells Fargo Deals delivers personalized offers based on customers’ interests. While many traditional programs focus on online shopping, My Wells Fargo Deals targets a range of purchase experiences from traditional brick-and-mortar stores like Starbucks and PetSmart to more experiential merchants like Airbnb. Cash back can be earned through My Wells Fargo Deals and activated by both credit and debit consumer customers using whichever eligible Wells Fargo card they prefer. The deals are sourced by Cardlytics and American Express. “My Wells Fargo Deals provides convenience and allows our customers to earn cash back from products and services they already use,” said Adam Vancini, head of Deposit Payments for Wells Fargo’s Deposit Products Group. “My Wells Fargo Deals also provides an opportunity to earn cash back on purchases at different retailers and merchants that they may not typically visit, but are similar