Large fund firms' support for combating climate change is all talk, as proxy voting record shows bottom performance
Climate change questions don’t get more fundamental than this one: How much time is left to act before it is too late?
Right now the difficulty of answering that question is showing up in a place where many individuals are heavily invested in getting the answer right: The index funds responsible for meeting millions of Americans personal financial goals, from saving for a house, to a child’s education, and a secure retirement.
Before he died, Vanguard Group founder Jack Bogle said one of the biggest issues the index fund would face in the future is its societal influence. Specifically, he meant the need to vote proxies on complex issues such as sustainability at annual meetings held by every publicly traded company and on behalf of so many individual fund shareholders. Read Full Article - CNBC, March 18, 2019