In 2024, Wells Fargo & Co completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources) and Scope 2 (indirect emissions from purchased energy).
However, Wells Fargo & Co has not published a category-level breakdown of its Scope 3 emissions, limiting visibility into specific value chain sources.
| Metric (tCO2e) | 2024 | 2023 | 2022 | 2021-2019 |
|---|---|---|---|---|
Total Scope 1 | 79,285a | 82,410a | 77,476b | |
Total Scope 2 | ||||
Market-Based | 2,372a | 3,633a | 4,424b | |
Location-Based | 540,874a | 558,616a | 593,495b | |
Total Scope 3 | N/A | 2,405,365b | 2,047,109b | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 0.9634a | 0.9977a | 1.0418b |
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In 2024, the total operational greenhouse gas (GHG) emissions of Wells Fargo & Co amounted to 620,159 metric tons of CO2 equivalent. This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2).a
Compared to 2023, the total operational greenhouse gas (GHG) emissions of Wells Fargo & Co decreased by 3.26%, showing that the company has made progress in taking action to reduce the climate impact of its operations.a
In 2024, the total Scope 1 emissions of Wells Fargo & Co were 79,285 metric tons of CO₂ equivalent (tCO₂e).a
Since 2019, Wells Fargo & Co's Scope 1 emissions have decreased by 8.45%, reflecting a declining long-term trend in Scope 1 emissions over time.a
Compared to the previous year (2023), Wells Fargo & Co's Scope 1 emissions decreased by 3.79%, highlighting the company's efforts to lower direct emissions from assets it owns or controls.a
In 2024, Wells Fargo & Co reported Scope 2 greenhouse gas (GHG) emissions of 2,372 tCO₂e using the market-based method and 540,874 tCO₂e using the location-based method.a
Since 2019, Wells Fargo & Co's Scope 2 greenhouse gas (GHG) emissions (Location-Based) have decreased by 29.88%, reflecting a declining long-term trend in Scope 2 emissions over time.a
Compared to the previous year (2023), Wells Fargo & Co's Scope 2 emissions (Location-Based) have remained relatively stable, indicating that Wells Fargo & Co's emissions have plateaued with no significant change in its energy consumption footprint.a
In 2024, Wells Fargo & Co reported its Scope 2 emissions using the market-based method and using the location-based method.a
In 2024, Wells Fargo & Co reported Scope 1 greenhouse gas (GHG) emissions of 79,285 tCO₂e and total revenues of USD 82,297 millions. This translates into an emissions intensity of 0.96 tCO₂e per millions USD.a
In 2024, Wells Fargo & Co reported a Scope 1 emissions intensity of 0.96 tCO₂e per millions USD. Compared to the peer group median of 0.56, this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors.a
In 2024, Wells Fargo & Co ranked 20 out of 25 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
Wells Fargo & Co is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency.a