Wells Fargo & Co
Wells Fargo & Co's GHG Emissions Data Preview
In 2023, 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), Scope 2 (indirect emissions from purchased energy) and Scope 3 (indirect emissions across the value chain).
Wells Fargo & Co has also provided a category-level breakdown for 6 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2023 | 2022 | 2021 | 2020 - 2017 |
|---|---|---|---|---|
Total Scope 1 | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | 0000000 |
Total Scope 2 | ||||
Market-Based | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | 0000000 |
Location-Based | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | 0000000 |
Total Scope 3 | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | 0000000 |
Total Scope 1 Revenue Intensity (tCO2e/$M) | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | 0000000 |
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Verified Sources Behind Wells Fargo & Co’s Greenhouse Gas (GHG) Emissions Data
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Insights into Wells Fargo & Co's Operational Emissions
In 2023, the total operational greenhouse gas (GHG) emissions of Wells Fargo & Co amounted to 641,026 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 2022, the total operational greenhouse gas (GHG) emissions of Wells Fargo & Co decreased by 4.46%, showing that the company has made progress in taking action to reduce the climate impact of its operations. a
Wells Fargo & Co's Scope 1 Emissions Over Time
- Total Scope 1
- Year-over-Year Change
What are Wells Fargo & Co's Scope 1 emissions?
In 2023, the total Scope 1 emissions of Wells Fargo & Co were 82,410 metric tons of CO₂ equivalent (tCO₂e). a
Has Wells Fargo & Co reduced its Scope 1 emissions over time?
Since 2018, Wells Fargo & Co's Scope 1 emissions have decreased by 13.54%, reflecting a declining long-term trend in Scope 1 emissions over time. a b
Compared to the previous year (2022), Wells Fargo & Co's Scope 1 emissions increased by 6.37%, suggesting that the company faced challenges in reducing emissions from its directly owned or controlled operations. a
What are Wells Fargo & Co's Scope 2 emissions?
In 2023, Wells Fargo & Co reported Scope 2 greenhouse gas (GHG) emissions of 3,633 tCO₂e using the market-based method and 558,616 tCO₂e using the location-based method. a
Has Wells Fargo & Co reduced its Scope 2 emissions over time?
Since 2018, Wells Fargo & Co's Scope 2 greenhouse gas (GHG) emissions (Location-Based) have decreased by 32.96%, reflecting a declining long-term trend in Scope 2 emissions over time. a b
Compared to the previous year (2022), 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
What methodology does Wells Fargo & Co use for Scope 2 reporting?
In 2023, Wells Fargo & Co reported its Scope 2 emissions using the market-based method and using the location-based method. a
Wells Fargo & Co's Scope 2 Emissions Over Time
- Total Scope 2 Location-Based
- Total Scope 2 Market-Based
Insights into Wells Fargo & Co's Value Chain Emissions
In 2023, Wells Fargo & Co reported 2,405,365 metric tons of CO₂ equivalent (tCO₂e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain. a
The 2023 disclosure of Wells Fargo & Co includes a breakdown across 6 of the 15 Scope 3 categories defined by the GHG Protocol, matching the level of disclosure in 2022, demonstrating consistent Scope 3 emissions reporting coverage year over year. a
Wells Fargo & Co's Scope 3 Emissions Over Time
- Total Scope 3
- Year-over-Year Change
What are Wells Fargo & Co's Scope 3 emissions?
In 2023, Wells Fargo & Co reported total Scope 3 emissions of 2,405,365 metric tons of CO₂ equivalent (tCO₂e). a
Approximately 100% of these emissions originated from upstream activities such as purchased goods and capital goods, while 0% came from downstream activities like product use, distribution, and end-of-life treatment. a
Has Wells Fargo & Co reduced its Scope 3 emissions over time?
Since 2018, Wells Fargo & Co's Scope 3 emissions have decreased by 36.4%, reflecting a declining long-term trend in Scope 3 emissions over time. a b
Compared to the previous year (2022), Wells Fargo & Co's Scope 3 emissions increased by 17.5%, suggesting that the company faced challenges in reducing emissions across its value chain. a
What categories of Scope 3 emissions does Wells Fargo & Co disclose?
In 2023, Wells Fargo & Co reported emissions for 6 out of the 15 Scope 3 categories defined by the GHG Protocol. a
This partial disclosure allows for some insight into the company's indirect impacts.
What are the main sources of Wells Fargo & Co's Scope 3 emissions?
In 2023, the largest contributors to Wells Fargo & Co's Scope 3 emissions were: a
- Purchased Goods and Services (Cat. 1): 1,415,876 tCO₂e (58.86%)
- Capital Goods (Cat. 2): 455,831 tCO₂e (18.95%)
- Employee Commuting (Cat. 7): 253,813 tCO₂e (10.55%)
Wells Fargo & Co's Scope 3 Emissions by Categories
Insights into Wells Fargo & Co's Total Carbon Footprint
In 2023, Wells Fargo & Co reported a total carbon footprint of 3,046,391 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 12.08% increase compared to 2022, suggesting a rise in emissions across its operations or value chain. a
The largest contributor to Wells Fargo & Co's total carbon footprint was Scope 3 emissions, accounting for 78.96% of the company's total carbon footprint, followed by Scope 2 emissions at 18.34%. a