Wells Fargo Reports progress toward 2020 Corporate Social Responsibility goals
Release of 2013 report highlights three CSR goals met, 11 ahead of schedule
SAN FRANCISCO — June 17, 2014 – Wells Fargo & Company (NYSE: WFC) announced the release of its 2013 Corporate Social Responsibility (CSR) report (PDF)* today, revealing the company has completed or is ahead of schedule on many of its 2020 CSR goals.
“We understand and embrace the important role we play in people’s lives, the environment and the economic health of our communities,” said Jon Campbell, executive vice president and head of Government and Community Relations. “We’re committed to meeting our 2020 CSR goals, and will continually find ways to integrate sustainability practices into all of our business strategies, products, operations and culture to benefit our customers and the communities we serve.”
Among the highlights, Wells Fargo has achieved three of its 2020 goals and 11 goals are ahead of schedule. The three goals achieved include:
- providing $7.7 billion in principal forgiveness since 2009, helping financially challenged homeowners and exceeding our goal early.
- financing $1.2 billion in “green” affordable housing and commercial proprieties in low-to moderate-income communities since 2012, exceeding our goal early.
- meeting our goal to launch a Human Rights Statement and Supplier Code of Conduct (PDF)*
Additional highlights of the company’s eighth CSR report include:
- investing $12 billion in environmentally sustainable businesses since 2012, including “greener” buildings and renewable energy projects; ahead of schedule for meeting our goal of investing $30 billion by 2020.
- contributing more than $800 million to thousands of local nonprofits since 2011, putting us significantly ahead of our goal to give $1 billion by 2017.
- providing $14.2 billion in loans and investments to community development projects since 2011; ahead of schedule for meeting our goal of investing $15 billion by 2016.
- volunteering more than 4.7 million hours of community service since 2011; expect to exceed our goal of 6 million hours this year.
- supporting military service members and veterans with $15.5 million in REO property and nonprofit donations, hiring and mentoring initiatives, and financial education; on track to meet our goal of providing $35 million by 2015.
- delivering financial education to nearly 375,000 people since 2011.
- achieving a 23 percent reduction in our greenhouse gas emissions since 2008.
Wells Fargo has been recognized for its achievements in CSR, including – World’s 35th Most Admired Company by Fortune (2014); #17 Best Company for Diversity by DiversityInc (2014); America’s No. 1 Most Generous Cash Donor by Chronicle of Philanthropy (2013); and one of the Top 100 Best Corporate Citizens by CR magazine (2014). For more information, visit Wells Fargo’s Corporate Social Responsibility, @WellsFargo on Twitter or Wells Fargo’s Environmental Forum.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.5 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 locations, 12,500 ATMs, and the internet (wellsfargo.com), and has offices in 36 countries to support customers who conduct business in the global economy. With more than 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on Fortune’s 2014 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially. Wells Fargo perspectives and stories are also available at blogs.wellsfargo.com and at wellsfargo.com/stories.
SOURCE: Wells Fargo