Wells Fargo focuses its work on three sustainability-related areas of critical importance. Environmental sustainability Wells Fargo believes that climate change is one of the most urgent environmental and social issues of our time. That is why in March 2021, Wells Fargo announced its e昀昀ort to support the transition to a low-carbon economy by setting a goal of net-zero greenhouse gas emissions by 2050. In 2021, the bank also joined the Net-Zero Banking Alliance, an industry leadership group focused on implementing climate targets. In furtherance of this net-zero goal, in May 2022, the company published the Wells Fargo onmental CO2eMissionSM, a climate alignment and target-setting methodology for its 昀椀nancing portfolios, and set its 昀椀rst interim 昀椀nanced emissions targets for two high-emitting Envir sectors (Oil & Gas and Power). In 2021, the company also launched an Institute for Sustainable Finance to deploy $500 billion of 昀椀nancing to sustainable businesses and projects by 2030, as well as to support science-based research on low-carbon solutions, and advocate for policies that enable client transitions. Social impact Wells Fargo seeks to support a more sustainable and equitable economy by Social opening pathways to economic advancement, championing quality a昀昀ordable homes, empowering small business growth, and enabling a low-carbon economy. Through these and other e昀昀orts, the company hopes to help build wealth, enhance economic mobility, and strengthen diverse and historically marginalized communities. In collaboration with community organizations, civic leaders, and nonpro昀椀ts at the local, state, and national levels, Wells Fargo is working to address systemic barriers to 昀椀nancial inclusion and opportunity. Wells Fargo’s resources and expertise can make a positive impact in communities, addressing these complex societal issues to help build a more sustainable, equitable future for all. ernance v Diversity, equity, and inclusion Go Wells Fargo is dedicated to diversity, equity, and inclusion. The company is focused on increasing diverse representation at all levels, creating a more inclusive workplace, and better serving and growing its diverse customer segments and diverse suppliers across all lines of business. This approach is embedded in the company’s culture and business practices, products and services, and philanthropic giving. Additional details are discussed in the 2022 Diversity, Equity, and Inclusion Report (PDF). As Wells Fargo continues its work on key ESG themes, the company recognizes that its employees, culture, and governance are all critical ingredients for making meaningful progress. 6 Environmental, Social, and Governance Report 2022