The management of Wespath Benefits and Investments (Wespath) and its Wespath Investment Management division will evaluate the environmental impacts of the companies in which we invest and will use engagement to improve corporate environmental and financial performance. In addition, to manage excessive sustainability risk, management may choose to exclude from investment:
1. In developed countries
a) Any company deriving approximately 50% of revenues from the extraction and/or mining of thermal coal
b) Electric utilities deriving 75% or more of their overall fuel mix from coal, unless a company has demonstrated its intent to transition from coal by sourcing 10% or more of its energy from renewable sources
2. In developing countries (except those eligible for assistance through the World Bank’s International Development Association Program*) any company deriving approximately 50% of revenues from the extraction and/or mining of thermal coal. Exceptions may be granted if the company’s overall ESG performance rank or rating by Wespath’s ESG service provider is within the top half of its peer group.
* Countries eligible for assistance through the World Bank’s International Development Association Program—many of the world’s poorest—are exempt.
Climate Change Home Page
Climate Change (Thermal Coal) Guideline—Complete Text
Climate Change (Thermal Coal) Guideline Q and A
Wespath’s Strategic Approach to Climate Change: Avoid—Engage—Invest
Position Statement: Promoting Financial and Environmental Stewardship
Managing Excessive Sustainability Risk Guidelines Q and A