Richard Kovacevich, CEO
Wells Fargo and Co.
420 Montgomery Street
San Francisco, CA 94163

RE: Time to consider global environment in business and investment decisions

Dear Mr. Kovacevich,

I strongly urge you to join in the growing global effort to address the most pressing ecological issues of our time. Curbing climate destabilization, protecting the world’s endangered ecosystems, and supporting the rights of indigenous communities are critical issues to your customers and to the planet. The world can't afford to wait much longer for you to do the right thing.

In January of this year, Citigroup, the world’'s largest financial institution, became the world’s first major bank to commit to a global policy addressing the crisis in the world’s forest and climate. In early May, Bank of America adopted sweeping new climate change and forest policies that set new industry best practices on fossil fuel investment, endangered forest protection, and indigenous rights. Further progress on these important issues requires that your company take action now.

It does not appear that your company is taking into account the health of our global environment in your business and investment decisions. While hundreds of leading corporations, including many of your clients, are now working to help endangered forests and stabilize the climate, you are falling behind.

I urge that your company take the following steps immediately:

1. Promptly phase out all funding and investment for extractive industries (oil, gas, mining, logging) in endangered ecosystems.
2. Commit to support the right of indigenous and local populations to have free and prior informed consent to projects on their lands.
3. Commit to independent third party chain-of-custody certification in regions where over 50 percent of logging is illegal.
4. Prioritize funding for sustainable alternatives, such as Forest Stewardship Council certified logging projects and clean energy sources like solar and wind power.
5. Provide and promote retail financial products, including energy efficient and energy improvement mortgages, to encourage mainstream adoption of clean energy sources.
6. Commit to reduce investments in greenhouse gas producing industries, beginning with an immediate ban in new funding for coal.

I will join many millions of concerned citizens and consumers whose financial and investment decisions will hinge on how quickly you take responsibility to move forward on these vital issues.

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