Wells Fargo & Company
Carbon footprint
Primary Climate Goal
Secondary Climate Goal
Wells Fargo & Company aims to achieve net zero for all Scopes by 2050
GHG emissions and Carbon intensity
Wells Fargo & Company reported gross GHG emissions (Scope 1 + 2 before carbon offsets) for the twelve months ending 31 December 2020 at 86 Kt (-11 /-11.3% y-o-y). At the same time, carbon intensity climbed to 1.2 t (+0.1/+9.1% y-o-y).
Wells Fargo & Company's Scope 3 emissions was down at 2,468 Kt (
The company is committed to achieving net zero for all Scopes by 2050, which translates into the estimated reduction of -85 Kt per annum over the period of FY2021 - FY2050. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.
Wells Fargo & Company achieved carbon neutrality across its operations (Scope 1 + 2) in 2019. Companies normally become carbon neutral with the help of the acquisition of carbon offsets rather than absolute reductions in their own greenhouse emissions. Also, carbon neutrality does not include non-CO2 GHG emissions.