Wellington Management
Risk Level:
Summary:
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. 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.
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.
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).
Charitable giving (including employee matching programs) policies or practices discriminate against charitable organizations based on views or religious beliefs.
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).
Employment policies fail to protect against discrimination based on political affiliation/views and/or religion.
Wellington Management does not provide viewpoint protections for employees (1).
Uses corporate reputation to support ideological causes and/or organizations hostile to freedom of expression.
Wellington Management holds employee DEI training, including generational diversity, gender diversity, unconscious bias and micro-inequities, transgender awareness, and cultural diversity (1). Wellington Management is a signatory of the CEO Action for Diversity & Inclusion pledge (2). 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 (3)(4). 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” (5)(6). Wellington is also a CERES Network Member and participant in Climate Action 100+ (7)(8).
Uses corporate funds to advance ideological causes, organizations, or policies hostile to freedom of expression.
Uses corporate political contributions for ideological, non-business purposes.
Wellington Management does not make PAC donations (1).
All links were last accessed and all information was updated on:
May 16, 2023
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