Wells Fargo is a US bank headquartered in San Francisco, offering consumer and commercial banking, wealth management, investment banking and capital markets services.
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Wells Fargo dropped its financed-emissions targets and its 2050 net-zero financing goal in February 2025, and publishes no financed-emissions total or other Scope 3 data. NGO reports rank it among the largest fossil-fuel financiers, and Forest 500 scores its deforestation policies at 4%. Its operational emissions have fallen 30% since 2019 on a location basis, but that data is not independently assured.
Wells Fargo scores 29/100 (Significant gaps) on SINK's independent climate assessment, scored from public data only. Fees pay for the review, never the result. Last verified October 2026.
That places Wells Fargo joint 634th of 847 companies scored, and joint 39th of 51 in Financial Services / Banking.
Where Wells Fargo sits among financial services / banking peers.
Among the 51 major financial services / banking brands we've scored, Wells Fargo is tied =39th of 51, with 2 others.
Its three lowest-scoring questions, and what the evidence didn't show.
Wells Fargo publishes no PCAF-basis financed-emissions total (Scope 3 Category 15).
No TNFD disclosure, deforestation-free financing commitment or nature-risk assessment found.
No SBTi commitment found.
A score changes when the evidence does. We use new published evidence at the next rescore. Evidence that isn't public can count through an evidence review.
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Get in touch →Strongest on Carbon Footprint — Operations and Energy Source (6/10, 6/10). Weakest on Carbon Footprint — Supply Chain and Nature & Biodiversity Impact (1/10, 2/10).
The 3 companies in the sector scoring nearest above Wells Fargo.
Goldman Sachs reports assured operational emissions, but its Scope 1 rose 4% in 2024 and it publishes no financed-emissions total, its main footprint.
See the breakdown →UBS reports strong operational decarbonization and renewable energy procurement but undermines credibility through a decade-long pushback of net-zero targets, withdrawal of AUM alignment commitments, and unresolved links between marketed green bonds and deforestation with labour abuses in Brazil.
See the breakdown →The formula and all 15 sources.
Same ten questions for every company. No private weighting.
SINK = (0.3 × Base + 0.7 × Performance) × Scale15 sources used in this assessment. All publicly available. Each row shows which of the ten questions it informed.
10 of 15 sources are independent of the company.
“Total Scope 1 MTCO2e 86,602 79,285 78,482”
“We calculated our Scope 1 and Scope 2 GHG emissions in accordance with the GHG Protocol”
“no longer provides Scope 3 category 15 disclosures associated with the bank's loans, investments, and underwriting services”
“In 2025, Wells Fargo signed 3 renewable energy agreements supporting the construction of new solar assets in the Carolinas, Florida, and Oklahoma”
“We evaluate suppliers based on a broad range of criteria including but not limited to:”
“Climate-related impacts could also negatively affect the financial condition of our customers, increase the credit risk associated with those customers”
“Wells Fargo has dropped its goal of pursuing net-zero financed emissions across its portfolio by 2050”
“Wells Fargo ranked fifth, with $30.4 billion — just ahead of Citi, sixth, at $30.2 billion.”
“The remainder of the group included three additional U.S. banks—Wells Fargo, Morgan Stanley and Goldman Sachs”
“Wells Fargo is a member of several industry associations (US Chamber of Commerce, Bank Policy Institute, American Bankers Association) that have actively opposed climate disclosure”
“Wells Fargo is active in many financial services industry and general business trade associations.”
“reaching 100% of operations powered by renewable energy through the purchase of 2 million megawatt-hours of renewable energy certificates (RECs)”
“Wells Fargo appears to have limited transparent direct engagement on climate-related policies, and has appeared to roll back some of its climate-related reporting.”
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Wells Fargo is a US bank headquartered in San Francisco, offering consumer and commercial banking, wealth management, investment banking and capital markets services. It had about 205,000 employees and $83.7 billion in FY2025 revenue.
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