Vanguard has a BIG Climate Problem

Last month, we announced that EQAT will be joining the Vanguard's Very Big Problem Campaign - an international effort led by various activists and organizers around the world, all demanding that Vanguard divests from climate chaos.

 

 

Who is Vanguard?

Based in Philadelphia suburb Malvern, PA - Vanguard is the second-largest asset manager in the world, managing over $7 trillion on behalf of millions of clients. But Vanguard, a company that has built its business on peoples’ retirement, uses its investments to destroy our future.

How Does Vanguard Drive Climate Chaos?

Vanguard is driving the climate crisis. Its investments pour billions into the industries destroying our climate:

  • Vanguard is one of the two biggest investors in oil and gas in the world.
  • With $86 billion in coal industry investments, Vanguard has recently become the largest global investor in coal. 
  • Vanguard has $104 billion invested in 12 of the “most devastating fossil fuel projects” being planned or already under development around the world.
  • Vanguard lags far behind its peers in its climate action and commitments. It has one of the worst voting records on climate-related shareholder resolutions, opposing all shareholder resolutions related to lobbying on climate issues from 2018 through 2020.

However, we know what’s coming; it’s not too late to change course. If Vanguard executives decide to act and investors take bold action to hold Vanguard to its climate commitments, we can ensure that we're leaving a livable future for our communities and the generations to come.

EQAT and the Vanguard Very Big Problem Campaign are demanding Vanguard:

  • Pull its investments out of all fossil fuels projects and companies.
  • Begin offering climate-responsible funds as a default to its customers.
  • Uses its power and influence as a shareholder to push the companies it currently invests in to do better on climate.

Stopping the money pipeline that fuels climate change is a big way to address the climate collapse we're facing, but we will need your help to hold this big power holder accountable. Here are some ways to take action with us in the Vanguard Very Big Problem Campaign:

  • Vanguard is our neighbor - tell us about them! We're fleshing out our understanding of Vanguard and the Southeastern PA-based decision-makers driving its work (including Vanguard CEO Mortimer Buckley). If you, or someone you know, has a connection to Vanguard employees or projects, we'd love to connect with you! reach out to [email protected] to set up a time to chat.
  • Are you a Vanguard Investor? Fill out this form! Vanguard investors make up 80% of Vanguard's budget. Those of us who have investments in Vanguard have an opportunity to use collective action to hold Vanguard accountable. Please note, if you're a Vanguard Investor, don't move your money...yet! (check out this blog post to hear our reasoning why) Instead, fill out this form so we can stay connected and share ways that you can take action as an investor in this campaign.
  • Part of a group with a stake in this fight? Partner with us! Are you part of a local group that's impacted by climate destruction or Vanguard's bad investments? We'd love for you to join the growing number of local organizations that are taking action against Vanguard! Reach out to [email protected] to connect.
  • Volunteer with EQAT - EQAT is a volunteer-led organization, we are only as strong as the people who make up our work. If you're interested in planning actions, supporting our media/communications work, engaging with organizational partners, etc. We'd love to connect with you! Sign up here to volunteer and be sure to join our next New Volunteer Interest Session (see below).
  • Take action with us! Check out the events below to see all the opportunities coming up to take action. Also, check out EQAT's events page to stay in the loop on upcoming actions.
  • Make a one-time donation - help us launch our efforts in the Vanguard Very Big Problem Campaign by donating to our work. Your financial support helps us take bold action against corporate targets like Vanguard.

Vanguard is a powerful opponent and its reach is global. But the future that’s at stake is greater and worth fighting for. We are being called to take bold action because a livable future is necessary and possible. Even against the odds, the power and conviction of one movement can take down the biggest giant. I'm so glad we get to do this work together.

 

Tab Skervin, EQAT Campaign Director

http://www.eqat.org/


Upcoming events

Sowing Seeds for the Future (At PECO)

(TOMORROW) Friday, October 22, 4:00 - 6:00 PM

RSVP here to get the full action details

After six years of campaigning, some moves from PECO, and an increasingly changing climate, it's time to celebrate our wins and efforts and express our disappointment with PECO's slow pace of change. Join us for an action on October 22nd, followed by time to socialize. You can join us for either the action or the social time (or both!).

 

Vanguard, Defund Climate Chaos!

(NEXT) Friday, October 29th, 11 AM - 2 PM

RSVP here to get the full action details

October 29th is the last Friday before climate talks begin as part of COP 26 in Glasgow, and we know that the financial sector - banks, insurers, and in Vanguard's case, asset managers - are funding, insuring, and investing in the climate crisis. Join us as part of this day of action to stop the money pipeline and address the climate emergency.

 

EQAT November General Meeting

Tuesday, November 2nd, 6:30 - 8:30 PM

RSVP here to get the Zoom link

Our monthly virtual gathering to share updates about EQAT's current campaign. Everyone is welcome!

 

New Volunteer Interest Session

Monday, November 8th, 7 - 8 PM

RSVP here for the zoom link

Are you interested in learning more about the Earth Quaker Action Team and seeing if you would like to be involved? This is the perfect place to start. Join us for an engaging one-hour conversation about EQAT's campaigns, history, culture, and how you can help, as well as time for questions. We look forward to meeting you!

 

EQAT November County Meeting

Sunday, November 21st, 5:30 - 7:30 PM

RSVP Here to get the zoom link

Join the county team for a virtual working meeting to discuss next steps in EQAT's campaign, outside Philadelphia. This meeting is perfect as a first meeting and for experienced EQATers. 

 

Photo credits: (top) Corinne Austen, (bottom) Russell Hicks


Showing 1 reaction

Be the first to comment

Please check your e-mail for a link to activate your account.