World News: 12:00 GMT Friday 21st April 2017. [Wells Fargo via Businesswire via SPi World News]
Wells Fargo & Company (NYSE:WFC) announced today that the company invested nearly $67 billion in lending capital and grants during 2016 toward achieving its 2020 Corporate Social Responsibility (CSR) goals that were set last year to help create solutions to address global challenges and strengthen communities. Wells Fargo’s 2016 CSR Interim Report, released today, details the company’s performance and progress in addressing three areas of strategic focus: advancing diversity and social inclusion, creating economic opportunities in underserved communities, and accelerating the transition to a lower-carbon economy and a healthier planet.
Among other accomplishments, last year the company invested $17.6 billion in financing for clean technology and other environmentally sustainable businesses; $38 million in grants and lending capital to help diverse small business grow; $49 billion in new mortgages for minority and low- and moderate-income households; $50 million in the Neighborhood LIFT® program; and $281.3 million in grants to 14,500 nonprofits.
“Wells Fargo has made strong progress toward achieving our 2020 CSR goals through significant investments in philanthropic giving, advances in products and services, and strengthening our operations and culture,” said Wells Fargo CEO Tim Sloan. “Our top priority is rebuilding trust, and our CSR efforts are essential to helping us build a better bank for the future. Though more work lies ahead, we are fully committed to making every community in which we do business better through an integrated, company-wide CSR strategy to address global social, economic, and environmental challenges.”
Wells Fargo’s approach to CSR reflects the company’s longstanding commitment to strengthening and delivering practical solutions for the customers and communities it serves. The 2020 CSR goals announced last year include objectives for supplier diversity, philanthropy, environmental financing, community development investments, and volunteer hours. Last month, Sloan reinforced the company’s commitment to corporate citizenship as one of six long-term goals for the company.
Following are highlights from Wells Fargo’s 2016 interim CSR report:
Products and services
Operations and culture
“It is our hope that our ongoing work to address these and other challenges in our business and our communities illustrates Wells Fargo’s sincere commitment to actively and authentically take action on the principles of corporate citizenship throughout our business,” said Jon Campbell, Wells Fargo’s director of Government and Community Relations. Read more from Campbell at stories.wf.com/continuing-commitment-creating-stronger-communities/.
For more information about Wells Fargo’s 2020 goals and progress, visit https://www.wellsfargo.com/about/corporate-responsibility/.
About Wells Fargo
Wells Fargo & Company (NYSE:WFC) is a diversified, community-based financial services company with $2.0 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,500 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 42 countries and territories to support customers who conduct business in the global economy. With approximately 273,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 27 on Fortune’s 2016 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.
Business Wire: 12:00 GMT Friday 21st April 2017
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