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Wells Fargo & Company (NYSE: WFC) today was recognized by the Carbon Disclosure Project (CDP) for its actions to reduce greenhouse gas emissions, achieving a position on the CDP Global 500 Climate Performance Leadership Index (CPLI). The announcement was made in the CDP Global 500 Climate Change Report 2013, an annual update for institutional investors on greenhouse gas emissions data and climate change strategies at the world’s largest public companies.
“About 93 percent of our Scope 1 and Scope 2 greenhouse gas emissions come from ‘purchased electricity’– or anything that runs on power. One of the many ways Wells Fargo is working to reduce that purchased electricity usage is through efficiencies in our data centers,” said Scott Dillon, executive vice president and head of technology infrastructure services for Wells Fargo. “We’re honored to again be among the select companies recognized for the significant environmental investments Wells Fargo has made to manage our impacts and support more sustainable development.”
“Earning this recognition was more challenging than ever,” said Mary Wenzel, senior vice president and head of Environmental Affairs for Wells Fargo since 2004. “We were asked to quantify emissions from our entire operational supply chain, from what we buy to what we sell, and everything in between. Our hope is to give team members and customers more visibility into the environmental impacts of our business and to better direct initiatives and business priorities toward efforts with the greatest positive return. Eventually, this data can be used to help our customers make more informed purchasing decisions. For example, consumers can discover which banking account, or which can of soup, has the smallest environmental footprint.”
Wells Fargo first appeared on the CDP Disclosure Leadership Index in 2008 and continues to develop aggressive goals toward investing in environmental solutions. Wells Fargo reduced greenhouse gas emissions by 6 percent in 2012, or by 18 percent since 2008. Earlier this year, the company also was recognized by the Environmental Protection Agency’s Center for Corporate Climate Leadership with a Goal Setting award for Excellence in Greenhouse Gas Management.