Wells Fargo
Corporate Bias Rating
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Risk Level:
Summary:
Wells Fargo is High Risk. The company yields to political activism in shaping corporate governance, potentially alienating consumers, dividing employees, and harming shareholders. The company implements race and identity-based policies that replace merit, excellence, and integrity with preferential treatment and outcomes. Wells Fargo embraces corporate initiatives that redirect its central focus from business goals to partisan policies and divisive issues. This approach fails to safeguard free exercise, free speech, and free enterprise.
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CEO of Wells Fargo
Charles W. Scharf
Summary:
Headquartered in San Francisco, California, Wells Fargo is a member of the Fortune 250 operating in the Diversified Financials industry. Charles W. Scharf and Steven D. Black serve as CEO/President and Chairman, respectively, leading the company’s C-suite executive team and the board of directors. Amongst these teams, the collective leadership is responsible for $499,900 to Republican causes and $562,082 to Democratic causes. Under their tenure, Wells Fargo currently holds a 'High Risk' risk rating.
View Full Board Bias ReportPolitical Contributions of Leadership:
$499,900
$562,082
Republican
Democrat
Shareholder Proposals
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| Date | ESG Category | Proponent | Summary of Resolution | Mgmt Rec | Total Vote % in Favor |
|---|---|---|---|---|---|
| 4/30/24 | American Conservative Values ETF | Report on Risks of Politicized De-banking | Against | N/A | |
| 4/30/24 | John Chevedden | Transparency in Lobbying | Against | N/A | |
| 4/30/24 | Harrington Investments | Report on Congruency of Political Spending and Corporate Values | Against | N/A | |
| 4/30/24 | The Sisters of St. Francis Dubuque Charitable Trust | Climate Lobbying Congruency Report | Against | N/A | |
| 4/30/24 | National Legal and Policy Center | Audit of Climate Transition Policies | Against | N/A | |
| 4/30/24 | American Baptist Home Mission Society | Report on Indigenous Peoples Rights | Against | N/A | |
| 4/30/24 | Segal Marco Advisors on behalf of AFL-CIO Equity Index Funds | Third Party Assessment on Company's Commitment to Freedom of Association and Collective Bargaining Rights | Against | N/A | |
| 4/30/24 | The Comptroller of the State of New York | Annual Report on Prevention of Workplace Harassment and Discrimination | Against | N/A | |
| 5/3/23 | Governance | John Chevedden | Adopt that Directors be Elected by Majority Vote | Against | 0.00% |
| 4/25/23 | Environmental | The Sierra Club Foundation | New Policy Phasing Out Lending to New Oil and Gas Exploration | Against | 8.50% |
| 4/25/23 | Social | The Comptroller of the State of New York, Thomas P. DiNapoli | Annual Report on Prevention of Workplace Harassment and Discrimination | Against | 52.30% |
| 4/25/23 | Social | Harrington Investments | Political Spending and Values Congruency | Against | 28.30% |
| 4/25/23 | Environmental | As You Sow on behalf of Minnesota Valley Trust | Climate Transition Planning | Against | 30.80% |
| 4/25/23 | Environmental | The Sisters of St. Francis Dubuque Charitable Trust | Climate Lobbying Report | Against | 32.00% |
| 4/25/23 | Governance | AFL-CIO Reserve Fund | Policy on Freedom of Association and Collective Bargaining | Against | 34.10% |
| 4/25/23 | Governance | John Chevedden | Adopt Simple Majority Vote | Against | 50.00% |
| 4/26/22 | Environmental | Sierra Club Foundation | Adopt a Financing Policy Consistant with IEA's Net-zero Emissions by 2050 Scenario | Against | 10.80% |
| 4/26/22 | Governance | John Chevedden | Adopt Management Pay Clawback Authorization Policy | Against | 7.15% |
| 4/26/22 | Social | National Legal and Policy Center | Report on Charitable Contributions | Against | 4.42% |
| 4/26/22 | Governance | Arjuna Capital | Report on Board Diversiy | Against | 11.54% |
| 4/26/22 | Governance | New York State Common Retirement Fund | Report on Incentive-Based Compensation & Risks of Material Losses | Against | 23.68% |
| 4/26/22 | Social | American Baptist Home Mission Society | Report on Respecting Indigenous Peoples’ Rights | Against | 25.63% |
| 4/26/22 | Social | SEIU Master Trust | Oversee and Report a Racial Equity Audit | Against | 35.74% |
In the News
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