Wellington Management

Massachusetts
Diversified Financials

Corprate Bias Ratings

Risk Level:

Rating - Danger
High Risk

Wellington will not invest in portfolios that contain investments in a variety of industries, including tobacco and nuclear energy. Due to its implementation of ESG-based divestments and similar practices, Wellington was one of 53 asset managers to receive a letter from a coalition of 21 state attorneys general raising concerns about the legal dangers of ESG investing, activism, and hiring schemes that the company embraces. By complying with Human Rights Campaign's controversial demands, Wellington increases the risk of dividing employees, alienating customers and harming shareholders. The company covers transgender-related medical costs for its employees and their children and provides specific sexual orientation and gender identity-based benefits. It also uses sex and gender ideology criteria in marketing and philanthropic support. Wellington forces employees to undergo multiple ideological trainings and uses its reputation, corporate funds, and political influence to support controversial sex and gender ideologies, organizations, and legislation. Wellington has engaged in a variety of corporate activism, including the Corporate Call to Action and CEO Action for Diversity and Inclusion. Wellington Management does not provide viewpoint protections for employees, and the company has funded the National Urban League. For these reasons, Wellington Management receives a High Risk rating.

Criteria
Risk Level
Rationale
Corporate Weaponization
Criteria

Has denied service to customers, suppliers, or vendors due to their political views or religious beliefs OR corporately boycotts, divests, or sanctions regions, people groups, or industries.

Risk Level
Rationale

Wellington will not invest in portfolios that contain investments in a variety of industries, including tobacco and nuclear energy (1). Wellington Management integrates ESG into all of its business practices. Wellington Management was one of the 53 asset management companies addressed in a letter issued by 21 state attorneys general regarding the legal dangers of ESG investing (2).

Criteria

Charitable giving (including employee matching programs) policies or practices discriminate against charitable organizations based on views or religious beliefs.

Risk Level
Rationale

Wellington Management does not discriminate against religious organizations in its charitable giving. The Wellington Management Foundation funds “organizations that provide access for all youth in our communities to educational experiences that will enhance their chances for future success.” Eligibility requirements state that the Foundation will fund “religiously affiliated organizations that are inclusive of all participants regardless of religious background and beliefs” (1). Wellington Management has an employee matching program, but nonprofit eligibility details are not publicly available (2).

Criteria

Employment policies fail to protect against discrimination based on political affiliation/views and/or religion.

Risk Level
Rationale

Wellington Management‘s HRC 2023 CEI rating indicates the company forces employees to attend multiple, controversial trainings on gender identity, sexual orientation, transgender issues, and divisive racial ideology. The company provides gender transition guidelines for its employees and a specific benefits guide with a comprehensive explanation of transgender services funded by the company (1)(2). Wellington Management does not provide viewpoint protections for its employees (3).

Corporate Governance and Public Policy
Criteria

Uses corporate reputation to support ideological causes and/or organizations hostile to freedom of expression.

Risk Level
Rationale

Wellington Management‘s HRC 2023 CEI rating indicates the company agrees to allow a controversial stakeholder group focused on sexual identity issues to dictate marketing or advertising strategy (1)(2). By doing so, the company risks dividing employees, alienating customers and harming shareholders. holds employee DEI training, including generational diversity, gender diversity, unconscious bias and micro-inequities, transgender awareness, and cultural diversity (3). Wellington Management is a signatory of the CEO Action for Diversity & Inclusion pledge (4). Wellington Management integrates ESG into all of its business practices. Wellington Management is a founding member of the Net Zero Asset Managers Initiative, which commits to net zero activist investing (5)(6). Wellington Management is a member of the Corporate Call to Action, a “corporate activism initiative launched in September 2020 by the Connecticut Office of the Treasurer and the Ford Foundation with the support of nearly 20 of the leading entities in the financial industry. Our purpose is to confront long-standing racial economic disparities in financial services and their impact on the nation’s economy” (7)(8). Wellington is also a CERES Network Member and participant in Climate Action 100+ (9)(10).

Criteria

Uses corporate funds to advance ideological causes, organizations, or policies hostile to freedom of expression.

Risk Level
Rationale

Wellington Management‘s HRC 2023 CEI rating indicates the company covers transgender related costs for its employees and their children, including paid short-term leave, puberty blockers, cross-sex hormones, chest surgeries, genital surgeries, medical visits and lab monitoring, travel and lodging. Additionally, the company has pledged philanthropic support of at least one organization or event that promotes sex and gender ideology (1)(2). By allowing a political stakeholder group to dictate operations, the company increases health care costs and risks dividing employees, alienating customers and harming shareholders. Wellington Management donates to The National Urban League, which engages in DEI and pro-abortion advocacy (3). Wellington is a Brass Sponsor of Out & Equal, an LGBTQ advocacy group (4).

Criteria

Uses corporate political contributions for ideological, non-business purposes.

Risk Level
Rationale

Wellington Management‘s HRC 2023 CEI rating indicates the company publicly advocated for controversial sex and gender ideology through local, state or federal legislation or initiatives (1)(2). By allowing a political stakeholder group to dictate operations, the company risks dividing employees, alienating customers and harming shareholders. Wellington Management does not make PAC donations (3).

All links were last accessed and all information was updated on:
January 23, 2024

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