Wells Fargo
CEF Lead Executives
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ROBYN LUHNINGList Item 1
Chief Sustainability Officer
Robyn is responsible for driving enterprise ESG programs, and leading progress against the company’s climate and other sustainability initiatives. She is also leading the development of the Wells Fargo Institute for Sustainable Finance, which will serve as a hub for the bank’s climate-related programming and stakeholder engagement. Robyn joined Wells Fargo in 2011 in the company’s first full-time role focused on Environmental and Social Risk Management. Prior to her current role, she was Head of Strategy and Transformation for Public Affairs. Earlier in her career, Robyn advised Fortune 500 companies on sustainability and corporate responsibility strategy. She also held a variety of corporate responsibility roles for large companies and served as a Peace Corps volunteer in Madagascar. Robyn serves on the board of the Conservation Corps rth Bay, a Bay Area-based nprofit developing youth and conserving natural resources for a resilient, sustainable, and equitable community. Robyn earned a B.A. degree in environmental studies from New College, and a Master’s degree in environmental management from Yale University
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GENEVIÈVE PICHÉ
Head of Sustainable Finance & Advisory
Geneviève oversees a team responsible for delivering thought leadership and a full suite of products aimed at helping clients achieve their sustainability objectives across Wells Fargo’s Commercial Real Estate, Banking, Markets, and International lines of business. She also leads Wells Fargo’s Corporate & Investment Banking (CIB) implementation of the company’s “net zero,” sustainable finance and climate risk integration goals. Previously, Geneviève was the head of Asset Management for Corporate & Investment Banking and before that, she was a managing director and relationship manager in the Corporate Banking group. Geneviève chaired Corporate Banking’s Diversity & Inclusion Council and served as a member of the Wholesale Banking’s D&I Council. Originally from Montréal, Canada, Geneviève earned her dual bachelor of arts degree in ecomics and international studies from Macalester College in St. Paul, Minnesota. She is an avid musician and outdoor enthusiast, and lives in Charlotte, rth Carolina, with her husband and son.
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READIE CALLAHAN
Managing Director, ESG Solutions
Readie leads several strategic efforts such as operationalizing “net zero" and sustainable finance lending targets, implementing climate risk integration, and delivering solutions to help clients achieve their sustainability objectives. Most recently, Readie was the Head of Communications Strategy for the Wells Fargo LIBOR Transition Office. Readie joined Wells Fargo Securities in 2011 as an investment banker serving municipal and not-for-profit clients in the Government and Institutional Banking Group. Readie served as the Inclusive & Innovation Culture Chair for the Wholesale DE&I Council, Chair of the WFS San Francisco Women’s Network, a member of the WFS Women’s Network Executive Steering Committee and ran the WFS mentor program. Readie graduated from Washington University with a B.A. in French and International Area Studies. She was the recipient of the Young Alumni Award in 2017 for her service and support of the University and service to the Bay Area community. Readie is an avid triathlete and two-time iron(wo)man.
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KELLY SOUZA
Managing Director, ESG Commercial Real Estate
Kelly is a managing director in the ESG Solutions Group within the Corporate and Investment Bank at Wells Fargo. She leads the Environmental, Social and Governance (ESG) efforts for Commercial Real Estate (CRE). In partnership with CRE leaders, she is tasked with developing and advancing a client-focused ESG strategy across environmental and social dimensions, as well as leading CRE’s sustainability and climate transition strategy. Outside of Wells Fargo, Kelly actively participates in numerous organizations, including the Bronze Multifamily Council of the Urban Land Institute (ULI) and the board of directors for Big Brothers Big Sisters of Puget Sound. Kelly enjoys fitness, travel, and outdoor activities with her partner and son.
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ERIN LEONARD
Business Execution Director
Erin leads ESG disclosures for Wells Fargo. Previously, Erin managed Lockheed Martin's efforts around public disclosures, including the development of the annual Sustainability Report, GRI Index and SASB report. Erin was also responsible for ESG related stakeholder engagement activities, and supports other corporate enterprise risk and ESG activities. Prior to working for Lockheed Martin, Erin spent 14 years in the Consumer Products and Entertainment industries, with 3 years as the Global Sustainability Manager for Mattel, and 10 years at the Walt Disney Company in the Corporate Citizenship Environment and Conservation, Integrated Supply Chain Management, and Disney Consumer Products Corporate Citizenship departments. Erin holds a B.A. in Environmental and Legal Studies from Brandeis University, and a Master’s of Environmental Science and Management from the Donald Bren School of Environmental Science and Management at the University of California, Santa Barbara. She resides in Maryland with her husband, daughter, and 2 cats.
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HARRISON THOMAS
Climate Innovation Strategy
Harrison manages Climate Innovation Strategy at Wells Fargo. He collaborates across the bank’s businesses to develop ideas, partnerships, and opportunities to evolve the bank’s climate-related product/service offerings and customer experience. This role brings together his background in design thinking, business strategy, and sustainability. Prior to Wells Fargo, Harrison worked at SASB, McDonalds, and Deloitte. He has a MBA from UNC Chapel Hill and Masters in Environmental Management from Duke University. Harrison has two small children and spends most of his free time entertaining them with field trips and fun-sound-effects.
Sustainability Goals
Sustainability Goals
Ongoing Goals
- Culture and Business Practices
- Continue to purchase renewable electricity to meet 100% of global operations needs
- Transition to a higher mix of long-term agreements that fund new sources of green power, including on-site solar
- Achieve LEED® certification for 35% of buildings (33% as of 2020)
- Increase participation in employee resource groups by 30%
- Strive for 15% of procurement spend with diverse suppliers and build capacity through supplier development
- Products and Services
- Provide $200 billion in financing to sustainable businesses and projects (2018-2030) with 50% focused on clean technology and renewable energy transactions that directly support the transition to a low-carbon economy
- Further integrate environmental and social risk management into our business processes
2022 Goals:
- Measure and disclose financed emissions for select carbon-intensive portfolios, and set interim emission reduction targets
2030 Goals:
- Reduce absolute emissions by 26% in the oil & gas sector (2019 baseline)
- Reduce portfolio emissions intensity by 60% in the power sector (2019 baseline)
- Establishing an Institute for Sustainable Finance to manage the deployment of an additional $500 billion to sustainable businesses and projects, supporting innovation in climate finance and clean technologies, and advancing community resiliency
2050 Goals:
- Achieve net-zero GHG emissions across Scope 1, 2, and 3, including its financed emissions.
Past Goals Achieved:
- Reduce GHG emissions 45% (59% as of 2020; 2008 baseline)
- Reduce energy consumption 40% (44% as of 2020; 2008 baseline)
- Reduce water consumption 65% (67% as of 2020; 2008 baseline)
- Reduce total waste stream 50% (60% as of 2020; 2008 baseline)
- Achieve 250,000 employee commitments to improving sustainability (received over 431,500 sustainability commitments since 2016)
Latest Sustainability Reporting
Highlights
- Originated or committed approximately $129 billion in sustainable finance from 2021 to the end of 2022, 26% of its 2030 goal of deploying $500 billion.
- Announced interim financed emissions targets for three new sectors: Automotive, Steel, and Aviation.
- Met 100% of electricity needs with renewable energy.
- Through the end of 2022, solar energy facilities had been commissioned at 60 company locations in eight U.S. states and two non-U.S. countries, including a 2MW installation in Iowa.
- Refreshed operational sustainability goals for 2030 (from a 2019 baseline), including reducing Scope 1 and 2 emissions by 70%; reducing energy usage by 50%; reducing total waste stream by 50% and reducing water usage by 45%.
- Increased total number of LEED-certified projects by five to a total of 917.
- Provided $3 million in support to 24 clean tech startups through the Wells Fargo Innovation Incubator.
- 52% of total employees worldwide were female and 46% of U.S. employees were racially/ethnically diverse.
- In a 2022 review, both women and racially/ethnically diverse employees earned more than 99 cents for every $1 earned by their white peers.
Recent News
2023
Announced interim financed emissions targets for three new sectors: Automotive, Steel, and Aviation, aiming to reduce emissions intensity (from a 2019 baseline) for automotive by 53% (for new vehicle sales); aviation by 20% (CO2 per revenue ton kilometer); and work with steel clients to lower emissions beyond its current level of 1.01 tons of CO2/ton of steel, which is already lower than the IEA’s Net-Zero Emissions scenario baseline of 1.09 tCO2/t steel. (July 2023)
2022
Six of the largest U.S. banks will participate in a Federal Reserve pilot climate scenario analysis exercise in early 2023 to better understand and measure climate-related financial risks. The exercise is strictly for information-gathering purposes; it will have no capital or supervisory implications. The six participating banks include CEF members
Bank of America, JPMorgan Chase, Morgan Stanley,
and Wells Fargo, as well as Citigroup and Goldman Sachs. (Oct 2022)
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Announced two new 2030 targets for GHG emissions attributable to its financing activities: a 26% reduction in absolute emissions in the oil & gas sector, and a 60% reduction in portfolio emissions intensity in the power sector (2019 baseline for both). These targets are in alignment with the company’s net-zero-by-2050 goal and informed by the target-setting guidelines of the Net-Zero Banking Alliance (NZBA), which the company joined in 2021. (May 2022)
RMA Climate Risk Consortium — 19 banks—including CEF members Bank of America and Wells Fargo—formed a new consortium under the Risk Management Association (RMA) to develop “consistent taxonomy, frameworks, and standards” that help banks integrate climate-risk management into their operations. The consortium will also engage with regulators and policymakers to help inform climate-related policy considerations. (Jan 2022)
2021
The Taskforce for Nature-related Financial Disclosures (TNFD) appointed 30 senior executives
from financial institutions, corporations, and service providers
to the
TNFD Taskforce. Members will
form 5 Working Groups to drive the development of a
beta disclosure framework to be launched in early 2022. TNFD Taskforce members include executives from CEF members
Bank of America
and BlackRock.
TNFD also launched the
TNFD Forum, a consultative group with over 100 institutions to support the Taskforce that includes CEF Member
Wells Fargo Asset Management. (Oct 2021)
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The Wells Fargo Innovation Incubator (IN2) for cleantech and agtech startups is
partnering with the
Farmers Business Network
to give the IN2 agtech startups opportunities to test their technologies in real-world scenarios at scale.
(Sept 2021)
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Wells Fargo announced a new wave of support for entrepreneurs including an initiative focused on mentoring 500 women-owned businesses called Connect to More℠, and a second phase of funding from its Open for Business Fund aimed at providing 93 nonprofits the ability to expand access to experts that can help grow small businesses. (Aug 2021) MORE »
Climate Action 100+
— The group of 617 global investors managing over $55 trillion in assets
released a
set of expectations
laying out necessary actions for the food and beverage sector to achieve net-zero emissions in line with the Paris Agreement goals. Climate Action 100+ investors include CEF members BlackRock, Fidelity Investments, J.P. Morgan Asset Management,
and
Wells Fargo Asset Management.
(Aug 2021)
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Launched a 10-year Banking Inclusion Initiative to help unbanked households—particularly Black and African Americans, Hispanics, and Native Americans—gain easier access to low-cost banking opportunities. It committed to redesigning 100 branches in low-to-middle income neighborhoods to enable one-on-one consultations, offer digital banking access, and conduct financial health seminars. (May 2021)
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Member companies of the Partnership for Renewable Energy Finance (PREF)—including Amazon, Bank of America, BlackRock, Google, JPMorgan, Morgan Stanley, and Wells Fargo—sent a letter to Texas officials opposing 3 energy-related bills, fearing they will upend the economics of wind and solar power in the state. (April 2021)
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Committed to achieving net-zero GHG emissions across its Scope 1, 2, and 3 by 2050. Interim goals include (March 2021):
- Disclosing its financed emissions measurement approach and providing more robust emissions data by 2022
- Setting interim emission reduction targets for select carbon-intensive portfolios—including oil and gas, and power—by 2022
- Establishing an Institute for Sustainable Finance to manage the deployment of an additional $500 billion to sustainable businesses and projects by 2030 and support science-based research and innovation in climate finance
- Integrating climate considerations into its Risk Management Framework
Announced
equity investments in six African-American owned banks. Wells Fargo will support each bank with a “single touchpoint coverage model” to
provide financial, technological, and product development expertise to help scale the institutions and create new benefits for the local communities. (February 2021)
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