86 Climate-related disclosure A critical element of a well-thought-out climate change strategy is the ability to transparently and accurately provide climate-related financial disclosures to our stakeholders, which helps them to identify historical, current, and emerging risks and opportunities related to climate change and our business . As such, we published our inaugural Task Force on Climate-related Financial Disclosures (TCFD) Report (PDF) in 2021, endorsed the recommendations of TCFD, and continue to disclose our Scope 1 and Scope 2 emissions as well as expand accounting, strategic decisions, and disclosure on our Scope 3 financed emissions . To learn more about our climate-related disclosures, please see our TCFD Report (PDF) and our ESG Goals and Performance Data (PDF) . Sustainable finance A cumulative global investment of about $1 .6 trillion is needed each year on average over the next 30 years to achieve a net- zero economy .1 This equates to about 1% to 2% of GDP per year . We view this as a significant opportunity, and in 2021, we launched the Institute for Sustainable Finance to help deploy $500 billion in financing to sustainable businesses and projects by 2030 to support science-based research on low-carbon solutions . The institute will also work with communities as they prepare for and adapt to changing weather-related impacts, and advocate for policies that enable client transactions . We published our Sustainable finance reporting methodology (PDF) on our corporate website . ¹ In May 2021, we issued our first sustainability bond, named the Inclusive Communities and Climate Bond . This raised $1 billion in capital aimed toward projects that support housing affordability, socioeconomic advancement and empowerment, and renewable energy . The Inclusive Communities and Climate Bond represents an important next step in delivering on Wells Fargo’s commitments to expand our sustainable finance capabilities in support of an inclusive economic recovery and a just transition to a low-carbon future . It also allows us to contribute to the strong momentum we’re seeing in the sustainability bond market and help meet the growing demand for investment opportunities that deliver positive social and environmental outcomes . Financing a low-carbon economy Wells Fargo is a leader in financing projects that aim to propel the U .S . toward a low-carbon economy . We contribute to the advancement of renewable energy and clean tech, serving a wide variety of companies in these rapidly growing sectors . We work with businesses around the world that manufacture, market, and develop clean technologies that enable sustainability and resource efficiency . Our customers include businesses that specialize in: Energy generation, including solar, wind, and biomass Energy storage Energy efficiency Water technologies Agricultural technologies Electric and low-emission vehicles Smart grid applications Performance trends can be found in the Wells Fargo ESG Goals and Performance Data (PDF) .