Wells Fargo
#5 in the world for fossil fuel financing.
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Wells Fargo is one of the world’s biggest funders of fossil fuels*. In the 8 years since the Paris Agreement, this bank has funneled $296 billion into coal, oil, and gas, rapidly accelerating the climate crisis. *Details here
While you’ve been saving money for a house or a weekend getaway, Wells Fargo has been using your savings to provide financial support to some very questionable fossil fuel friends.
And it's not just a little here and there; we’re talking about it being number 5 globally at the end of 2023. Well Fargo also left the Equator Principles (a voluntary framework for assessing and managing environmental and social risks in project finance), so they do not want to be bound by even those minimum standards.
In 2023, the hottest year on record, Wells Fargo financed $11.7 billion in fossil fuel expansion, and was a number 2 financier globally of fracked oil and gas. Wells Fargo is a key bank for the Mountain Valley Pipeline and its extensions, and one of the main financiers of US coal power.
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