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Company Response

Wells Fargo's response re: Dakota Access Pipeline

... As a result of issues that have arisen in the DAPL case, we have enhanced our due diligence in sectors subject to our Environmental and Social Risk Management (ESRM) policy to include more focused research into whether or not indigenous communities are impacted and if they have been properly consulted. We also seek to understand our customers’ approaches to engagement with Native American communities and other indigenous peoples. In addition to the ESRM policy enhancements, we recently published an Indigenous Peoples Statement to help communicate our approach to responsible finance where our financing of a company or a project may potentially impact indigenous communities. The statement was developed in consultation with a number of indigenous stakeholders and their representatives, and is aligned with International Finance Corporation Performance Standard 7 on Indigenous Peoples. ...

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