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Wellington has committed to being carbon neutral in our operations by the end of 2022. To achieve that goal, we are taking a multifaceted approach that includes:
Since establishing a baseline carbon-footprint measurement from 2014 covering our Scopes 1, 2, and 3 emissions, we have continued to seek ways of reducing our carbon footprint. Going forward, we will work with existing technologies and methodologies to select high-quality offsets aligned with our broader sustainability goals. As available tools and technologies improve and become economical at scale, we expect to evolve our approach. We will actively support the development of the carbon offset market, incorporating The Oxford Principles for Net Zero Aligned Carbon Offsetting, including selecting high-quality offsets, modeling best practices, supporting transparency, and aligning with our clients and industry peers.
As a first step in decarbonizing our operations, we aim to reduce or eliminate as many sources of operational Scopes 1, 2, and 3 emissions as possible without compromising our capacity to serve our clients, deliver investment excellence, and support our global employees. These efforts include:
In addition to direct emissions reductions, we will cover a portion of our global electricity usage with renewables, with plans to expand this coverage. In a normal (non-COVID) year, purchased electricity accounts for approximately…
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