2020 U.S.-Booked Air Volume: $21.3 million
Consolidated U.S. TMC: Amex GBT
BTN estimates that financial services and banking firm Wells Fargo in 2020 decreased its U.S.-booked air spending by about 75 percent year over year. Even prior to the pandemic, however, the company’s travel policy stipulates employees should consider remote conferencing options for internal meetings before booking travel.
Wells Fargo’s 2020 business air travel generated about 24,900 metric tons of carbon dioxide equivalent emissions, down from about 78,300 the year prior.
The company at the end of 2020 had about 268,500 employees, down about 1 percent from 2019. Wells Fargo’s 2020 revenue declined about 15 percent year over year to about $72.3 billion. The company in 2021 sold Wells Fargo Asset Management, its asset management division, to two private equity firms.