Better Health for All

Wells Fargo has approximately $55 billion in outstanding commitments to oil, gas, pipeline companies, and utilities as of December 31, 2024, representing significant potential negative health externalities from pollution.

However, the company also finances electric vehicle loans and has substantial internal environmental goals, including a 70% reduction in greenhouse gas emissions from 2019 levels by 2030. , which mitigate negative health impacts. For its employees and their eligible dependents, Wells Fargo provides comprehensive mental health programs, including medical coverage for mental health and substance use services, free counseling sessions (up to 6 per issue, max 12 per year) through its Employee Assistance Program, and an annual mental health awareness campaign to reduce stigma. The company also offers moderate support for healthcare workforce capacity through a $1 million grant to LISC's Financial Opportunity Center network, which provides job training in healthcare sectors for individuals in under-resourced communities, helping them earn certifications and pursue nursing careers. Wells Fargo's core financial services products have no significant direct positive or negative health impact. The company's financial products do not have direct safety implications, health risks requiring disclosure, or addiction potential. Wells Fargo does not offer health-related products or services requiring accessibility considerations, nor does it hold healthcare-related patents, produce food products, or conduct clinical trials.

Fair Money & Economic Opportunity

No specific, quantifiable evidence was found in the provided articles that directly maps to the quantitative thresholds defined in the scoring rubric for any of the KPIs related to Fair Money & Economic Opportunity. While articles mention initiatives like the Open for Business Fund ($420 million)

and the HOME initiative (targeting four million Latinos by 2030 with $10 million commitment ), these do not provide a 'share of loan/insurance book' as required by the 'inclusion_initiatives' KPI. Similarly, a $600,000 grant for a Junior Investment Club is mentioned, but not the 'reach' or 'outcomes' needed for 'financial_literacy_initiatives'. Lawsuits alleging mortgage lending bias and inadequate support for customers affected by a fake accounts scandal are noted, but these are not 'regulatory findings or fines' as specified for 'fair_lending_compliance'.

Fair Pay & Worker Respect

As of year-end 2023, women at Wells Fargo earned more than 99 cents for every $1 earned by their male peers, and U.S. racially/ethnically diverse employees earned more than 99 cents for every $1 earned by their Caucasian/white peers.

Wells Fargo reached two settlements with workers regarding allegations of unfair labor practices, specifically claims of managers improperly removing pro-union materials and restricting union activities at an Oregon call center. Additionally, employees at one Wells Fargo branch in Albuquerque, New Mexico, voted to unionize, marking the first instance of a major U.S. bank’s workers organizing in the modern era.

Honest & Fair Business

Wells Fargo incurred $894.8 million in ethics-related regulatory fines within the past three years.

This includes a $500 million penalty from the SEC in 2024 , a $75 million fine from the CFTC in 2023 , and a $67.8 million fine from the Federal Reserve in March 2023 . Additionally, the company paid $32 million to settle a sex discrimination case , $184 million for unfair treatment in home lending , and $36 million for an action brought by Black financial advisors, all reported in 2024 . While Wells Fargo has a formal whistleblower policy with a 24/7 third-party EthicsLine , it was ordered to pay over $22 million to a senior manager fired after raising concerns about financial misconduct . The company states it does not tolerate bribery or corruption and has a comprehensive anti-bribery and corruption policy . However, it has engaged in repeated financial crimes, including violations of the Foreign Corrupt Practices Act .

No War, No Weapons

No specific quantitative data was found in the provided articles to assess Wells Fargo & Company against the defined Key Performance Indicators for the 'No War, No Weapons' ethical value. While articles mention financial relationships with gunmakers and the NRA

, and community investments , they do not provide the necessary percentages of revenue, R&D, or divestment, nor specific details on policies, audits, or compliance rates required by the rubric's thresholds. Information regarding a UN call to cease arms transfers to Israel and Wells Fargo's non-response does not constitute evidence of direct arms sales by the company, which is a financial institution.

Planet-Friendly Business

Wells Fargo's total Scope 1, 2 (location-based), and 3 greenhouse gas emissions for 2023 were 3.05 million tCO₂e, an increase from 2022.

The company discontinued its goal to achieve net-zero financed emissions by 2050 and abandoned its interim 2030 financed emissions targets as of February 2025, though it maintains a 2050 net-zero goal for its own operational emissions. Wells Fargo has matched 100% of its global electricity consumption with renewable energy purchases since 2017. The company's waste diversion rate was 44.81% in 2024. Wells Fargo makes advanced TCFD disclosures, with climate-related risks integrated into its enterprise risk management. It uses comprehensive climate-risk scenario analysis, including NGFS and IPCC scenarios, and participated in the Federal Reserve's Climate Scenario Analysis pilot in 2023. Through partnerships, the company has supported the restoration of over 70,000 acres (2012-2017) and nearly 180,000 acres (since 2017), engaging almost 1 million community members. Its Resilient Communities Program has a dedicated budget of $12.4 million from the Wells Fargo Foundation, focusing on conservation and resilience projects in affordable housing communities and small business districts.

Respect for Cultures & Communities

Wells Fargo has demonstrated extensive engagement with Native American communities, providing grants to 33 Native-focused nonprofits in 2024

and 28 Native-led organizations in 2023 through its Invest Native initiative. The company also partnered with the Cook Inlet Lending Center for a homebuyer program and committed $50 million over five years to American Indian and Alaska Native communities in 2017. However, the Navajo Nation sued Wells Fargo in 2017 for predatory practices, alleging employees misled elderly members who did not speak English. Wells Fargo settled this lawsuit for $6.5 million in 2019, indicating a reactive response to the incident after legal pressure. There were no reported cultural appropriation incidents.

Safe & Smart Tech

Wells Fargo experienced a ransomware attack on a third-party vendor in November 2023, affecting approximately six million people.

Additionally, an insider threat incident occurred from May 2022 to March 2023, where an employee accessed customer records without permission and transferred private information of two individuals to their personal account. The company reported this incident to authorities and sent breach notification letters in September 2024. Wells Fargo faces significant regulatory challenges, with eight open consent orders as of April 2024. In September 2024, the bank entered a formal agreement with the OCC to enhance its anti-money laundering and sanctions risk management practices. Accrued liabilities for customer remediation activities totaled $236 million in 2024. In AI ethics, Wells Fargo is a founding member of Stanford University’s Institute for Human-Centered AI, with over 4,000 employees participating. The company employs adverse effect checks to identify potential biases in AI models and has independent groups review AI-based products at multiple development points. Wells Fargo offers alternatives to any AI-based product or service and endorses the White House's AI Bill of Rights, emphasizing data privacy and human oversight in its AI systems.

Zero Waste & Sustainable Products

Wells Fargo has set a company-wide target to reduce its total waste stream by 50% from 2019 levels by 2030

, having achieved 98% of this goal by December 2024. The company implements waste reduction initiatives including composting at several U.S. campuses and onsite organic waste converters in its India locations. Additionally, Wells Fargo employees volunteer to repurpose single-use plastics , weave used T-shirts into new items , and sort unsold produce for donation. The company also provides customers with tips on how to reduce waste, inspired by the Innovation Barn.