InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Wellington is a member of Invest Europe (last checked September 2023).
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Wellington is a member of Invest Europe (last checked September 2023).
not specified
--no extract--
In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.
Open PDF file of Data Source
Sustainable Finance Lobbying Overview: Wellington Management (Wellington) appears to have had mostly positive but somewhat limited engagement on sustainable finance policies, supporting regulated corporate ESG disclosures and opposing efforts to limit ESG investing.
Top-Line Messaging on Sustainable Finance Policy: Wellington has stated support for limiting temperature rise to 1.5C and in December 2020 joined the Net Zero Asset Managers initiative as a founding member, supporting efforts to achieve net zero emissions by 2050. In an October 2022 report, Wellington appeared supportive of the EU’s sustainable finance regulatory framework.
Position on Regulated Corporate ESG Disclosure: Wellington appears strongly supportive of regulated corporate ESG disclosure. In its June 2021 response to the Securities and Exchange Commission’s (SEC) request for input, Wellington called on the SEC to mandate corporate climate disclosure, including Scopes 1, 2, and 3 emissions disclosure requirements. After the SEC released its proposal in June 2022, Wellington offered its strong support for the rule, advocating for increased ambition with regard to emissions disclosure requirements. Wellington also supported the International Sustainability Standards Board’s proposed climate disclosure framework in July 2022, and in August 2022 encouraged the European Financial Reporting Advisory Group to align its European Sustainability Reporting Standards with the ISSB framework, supporting the ISSB’s use of “enterprise value” to determine materiality, which is less ambitious than the EU’s “double materiality” approach.
Position on ESG Standards/Labels/Benchmarks: In an August 2022 letter to the SEC, Wellington objected to the Commission’s proposed expansion of the Names Rule to funds with names that suggest particular strategies, including ESG strategies. However, the bulk of Wellington’s opposition centered around expansion to funds with names that use “growth” and “value” terms.
Position on Incorporating ESG Factors Into Investor Duties: In 2020, Wellington opposed Trump-era regulations at the Department of Labor that sought to limit ESG investing and shareholder rights. In an August 2022 insights paper, Wellington appeared supportive of the EU Sustainable Finance Disclosure Regulation (SFDR).
Industry Association Governance: Wellington lacks a dedicated, clearly identifiable disclosure of its engagement with industry associations. Wellington is a member of associations that are engaged on sustainable finance policy including the Securities Industry and Financial Markets Association (SIFMA) and Invest Europe.