U.S. Markets closed

Wells Fargo Among ‘Most Transparent’ on Environmental, Social, and Governance Metrics

SAN FRANCISCO--(BUSINESS WIRE)--

Company is committed to transparency and measurement across its businesses

In a study commissioned by Financial Times’ Agenda, stock-ratings firm HIP Investor rated Wells Fargo among the most transparent companies on environmental, social, and governance (ESG) metrics. A summary of the study appeared in the publication’s April 8 edition.

“Being transparent about our approach to environmental and social governance issues and the risks associated with them helps Wells Fargo proactively address concerns, assures team members that we are considering important aspects of these decisions and — importantly — creates shareholder value,” said Mary Wenzel, head of Sustainability and Corporate Responsibility at Wells Fargo. “Setting sustainability goals and reporting on our progress helps Wells Fargo maintain a focus on issues that are critical to managing risk, running our business in a more sustainable fashion and delivering on our commitment to leadership in corporate citizenship.”

Financial Times Agenda writes that the study was commissioned “to identify the S&P 500 companies that most fully — and least fully — report these important metrics that connect with financial value creation and risk reduction.” It used publicly available information including CDP (formerly the Carbon Disclosure Project) disclosures, annual reports, corporate responsibility and sustainability reports and the Thomson Reuters/Refinitiv database to arrive at its conclusions.

Wells Fargo ranked No. 9 on the study’s list of most transparent S&P 500 companies, and Wells Fargo was first among financial services firms.

“Our stakeholders — including investors, customers and team members — are increasingly interested in our performance and management of environmental, social, and governance factors,” said Wenzel. “In addition to robust ESG disclosures, we are committed to transparent financial disclosures, and we appreciate the independent analysis that benchmarks our efforts against other industries.”

Wells Fargo seeks to employ best practices in corporate transparency and disclosure, and reports on ESG-related issues through annual financial reporting and proxy statements, annual Corporate Social Responsibility reporting, company policy statements, a Business Standards Report, and other public disclosures including CDP reporting.

For more information on ESG issues at Wells Fargo, visit the company’s Environmental, Social, and Governance Guide.

About Wells Fargo

Wells Fargo & Company (WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through 7,700 locations, more than 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 33 countries and territories to support customers who conduct business in the global economy. With approximately 262,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 26 on Fortune’s 2018 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190513005706/en/