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Wellington Management and Enel Green Power form a Groundbreaking Renewables Initiative

Wellington Management and Enel Green Power form a Groundbreaking Renewables Initiative

Wellington, one of the world’s largest independent investment managers, has partnered with Enel Green Power and expects to become one of the first companies to match U.S. employees' office and home electricity use with renewable energy.

Partnership

Procuring renewable energy for all US employees

Wellington operates in a business of risks and opportunities. They know that the risks of an unsustainable future are existential to markets and economies. They also are committed to being part of the solution on carbon emissions.

Wellington has entered a 10-year virtual power purchase agreement (VPPA) to procure a 11 MW portion of Enel Green Power’s Rockhaven wind project. This arrangement covers approximately 48 GWh of wind energy annually, which is expected to equal or exceed the electricity needs for all of Wellington's U.S. offices as well as residential electricity usage of more than 2,200 employees in the U.S.

This first-of-its-kind partnership represents an important step toward Wellington’s goal of deploying 100% renewable energy for its corporate operations in all available markets by 2022. We’re bullish on Wellington’s investment in its own sustainable future. 

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Electricity 48

Electricity 48 GWh of renewable energy

Employees >2K

Employees >2K The number of Wellington’s U.S. employees met with energy from the Rockhaven wind project to match their office and home electricity use

Emissions avoided 30K

Emissions avoided 30K Tons of CO2 emissions avoided each year  

Sustainability Highlights

Decarbonization and the future of investing

In December 2020, Wellington became a founding member of the Net Zero Asset Managers initiative, targeting net-zero emissions across the investment portfolios it manages for clients by 2050 or sooner. Wellington intends to partner with asset owners on their decarbonization goals in recognition of the impact the low-carbon transition may have on security valuations. No single entity can tackle the climate challenge or build a sustainable future alone. Wellington continues to lead on climate issues: engaging with companies it invests in, educating and learning from clients and peers, and now partnering with Enel Green Power to reduce their carbon footprint (and that of their US employees’!).   

Find out more

Read more about the partnership