77 Sensitive industries We look at a full spectrum of risks and various other factors when we consider financing any sector, company, or project- specific transaction . These factors include credit risk, market conditions, reputation risk, social and environmental considerations, and the potential volatility of policy and regulatory positions . Our ESRM policies are critical to our internal due diligence in such sensitive industries as oil and gas, coal and metal mining, arms and armaments, consumer finance, and Equator Principles transactions . Wells Fargo continues to evaluate its approach to environmental and social risk management in an effort to expand our scope of due diligence and continuously assess emerging risks . Related to Human Rights, Wells Fargo continued its improvement efforts to address modern slavery and published an updated Modern Slavery Statement (PDF) . In late 2020, Wells Fargo initiated a corporate-level Human Rights Impact Assessment (HRIA) to determine the current salient human rights risks across our value chain . The HRIA is being conducted by an independent, external law firm, with expertise in the field of business and human rights . This assessment will help Wells Fargo improve its governance related to managing human rights issues companywide, and will enhance our dialogue with stakeholders . We are planning to complete the HRIA in 2021 . Companywide policy restrictions and prohibitions Wells Fargo has internal policies that prohibit lines of business from knowingly accepting or opening new accounts or relationships (or renewing existing accounts or relationships) with certain types of clients or industries . Additional prohibitions related to clients, products, or business activities may exist at the line of business level . Under these policies, any business or business activity that is illegal under applicable law for the jurisdiction, including state or federal law, is prohibited, and we will not knowingly finance or take deposits from individuals or businesses engaged in, or deriving income from, illegal activities . Wells Fargo currently doesn’t directly or indirectly provide new financing, or is in the process of exiting, existing relationships or reducing our exposure as contracts expire for the following activities or customers involved with them: • Coal industry, including companies deriving profits from mountaintop removal coal operations, or any project associated with the expansion of an existing, or development of a new, coal mine or new coal-fired power plant . • Equator Principles in-scope transactions in the Alaskan Arctic region . • Modern slavery, servitude, forced or compulsory labor (including child labor), and human trafficking . • Private prison companies and immigrant detention centers . Additional due diligence Through stakeholder engagement and industry expertise, we identify transaction types, customer activities, and crosscutting issues that carry a heightened risk of significant environmental and/or social impacts . If we believe such risks and impacts are material to the long-term success of companies or could have material adverse environmental or social impacts, we perform client-, industry-, issue-, or transaction-specific risk due diligence to evaluate a customer’s commitment, capacity, and track record as they relate to ESRM .