Red Line | Text of policies | Comments | Score |
---|---|---|---|
Regulatory requirements | |||
Ensure Legality | Environmental and Social Risk Management Framework Prohibited: Illegal activities. These include any activities that are Illegal under local laws and regulations or under the conventions and agreements to which Wells Fargo is a legal party. And for customers who import lumber, we screen for compliance with the Lacey Act, legislation that bans trade in illegally sourced wood products. Human Rights Statement Wells Fargo strives to engage with business customers that respect human rights. | The policy requires compliance with national law, but does not mention international conventions such as ILO. | partly |
No Corruption and Tax Evasion | No publicly available policies or documentation were found that cover this criteria. | not | |
Ensure ESIA for mills and plantations | No publicly available policies or documentation were found that cover this criteria. | not | |
Social requirements | |||
Ensure FPIC | Environmental and Social Risk Management Framework For projects where we can identify that the use of proceeds may potentially impact Indigenous Peoples, specifically for project financing, project bridge loans, and corporate project financing transactions, we expect our customers to demonstrate alignment with the objectives and requirements of International Finance Corporation (IFC) Performance Standard 7 on Indigenous Peoples, including with respect to circumstances requiring Free, Prior and Informed Consent. Indigenous Peoples Statement For projects where we can identify that the use of proceeds may potentially impact Indigenous Peoples, we expect our customers to demonstrate alignment with the objectives and requirements of International Finance Corporation (IFC) Performance Standard 7 on Indigenous Peoples, including with respect to circumstances requiring Free, Prior and Informed Consent. | FPIC is required for indigenous people, but nor for other impacted communities | partly |
Respect Human Rights | Environmental and Social Risk Management Framework Prohibited: Modern slavery and harmful child labor. These include any clients or activities in which we become aware of evidence indicating forced labor, child labor, human trafficking, or any other type of modern slavery. Human Rights Statement Wells Fargo strives to engage with business customers that respect human rights. | The bank does not finance child or slave labour, but does not require clients to have a Human Rights Policy | partly |
Respect Indigenous rights and customary land use rights | Environmental and Social Risk Management Framework For projects where we can identify that the use of proceeds may potentially impact Indigenous Peoples, specifically for project financing, project bridge loans, and corporate project financing transactions, we expect our customers to demonstrate alignment with the objectives and requirements of International Finance Corporation (IFC) Performance Standard 7 on Indigenous Peoples, including with respect to circumstances requiring Free, Prior and Informed Consent. | FPIC is required for indigenous people, but nor for other impacted communities | partly |
No forced resettlement | Environmental and Social Risk Management Framework For projects where we can identify that the use of proceeds may potentially impact Indigenous Peoples, specifically for project financing, project bridge loans, and corporate project financing transactions, we expect our customers to demonstrate alignment with the objectives and requirements of International Finance Corporation (IFC) Performance Standard 7 on Indigenous Peoples, including with respect to circumstances requiring Free, Prior and Informed Consent. Indigenous Peoples Statement For projects where we can identify that the use of proceeds may potentially impact Indigenous Peoples, we expect our customers to demonstrate alignment with the objectives and requirements of International Finance Corporation (IFC) Performance Standard 7 on Indigenous Peoples, including with respect to circumstances requiring Free, Prior and Informed Consent. | FPIC is required for indigenous people, but nor for other impacted communities | partly |
Environmental Requirements | |||
No forest degradation and deforestation | No publicly available policies or documentation were found that cover this criteria. | not | |
Protect endangered species | No publicly available policies or documentation were found that cover this criteria. | not | |
No high-risk species | No publicly available policies or documentation were found that cover this criteria. | not | |
No fire | No publicly available policies or documentation were found that cover this criteria. | not | |
Protect peat | No publicly available policies or documentation were found that cover this criteria. | not | |
No persistent pollution | No publicly available policies or documentation were found that cover this criteria. | not | |
Corporate association / scope of the policy | |||
Corporate association / scope of the policy | Environmental and Social Risk Management Framework In addition to environmental and social risks associated with their operations, understanding our customers’ unique supply chain issues are critical to risk assessment. We stay abreast of industry trends and engage with our clients to understand how they will meet evolving customer and stakeholder expectations. | The policy indicates that it is also applied to the customer's chain of custody, but does not mention parent, sister or daughter companies | partly |