This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
WEC Energy Group operates a generation fleet that remains heavily reliant on coal-fired power. According to its 2024 Corporate Responsibility Report, the company's owned and contracted generation mix was approximately 42% coal, 35% natural gas, 15% nuclear, and 8% renewables. This coal dependency makes its power generation among the most carbon-intensive in the U.S. utility sector. The company has announced plans to retire approximately 1,800 megawatts of coal capacity by the end of 2025, but its remaining coal plants, including the 1,210-megawatt Oak Creek facility, have no publicly announced retirement dates. WEC Energy Group has not committed to a Science Based Targets initiative (SBTi) validated net-zero target.
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The Naughty List
A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.