Big Tech Employees Missed Out on $5 Billion in Returns Due to 401(k) Fossil Fuel Investments, New Report Finds

Today, researchers at the University of Waterloo (Canada), in partnership with As You Sow, released a new report finding more than 2 million employees from 12 tech-sector companies could have earned an estimated $5.1 billion in additional returns had their companies moved to decarbonize their retirement plan holdings 10 years ago. The report analyzed the 401(k) plans of the Big Five tech companies – Amazon, Apple, Google, Meta, and Microsoft – and seven additional tech companies: Adobe, Broadcom, Intuit, Netflix, Oracle, Qualcomm, and SAP America.

Invest Your ValuesAs You SowApril 29, 2024Big Tech, 401k, Fossil fuels

Google Employees Missed Out on $1 Billion Due to 401(k) Plan’s Investments in Fossil Fuels

Today, researchers at the University of Waterloo, in partnership with As You Sow, released a new report finding that Google employees could have earned an estimated $1.15 billion in additional returns, with the financial performance of the company’s retirement plan holdings “estimated to have been higher if they had divested from the Energy Sector ten years ago on an absolute and risk adjusted basis.”

Invest Your ValuesAs You SowMarch 19, 2024Invest Your Values, Fossil fuels, Google, retirement