The Impact of Energy Sector Investments on the Financial Value of Google LLC 401 (k) Savings Plan Funds

Could fossil free funds have saved over $1 billion for the Google 401(k)? This study, from researchers at the University of Waterloo in partnership with As You Sow, finds 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.” The report analyzed Google’s employee 401(k) plan, estimating cumulative 10-year returns with and without fossil fuel investments, and found a difference of 9.15%, or 0.879% per year invested, in favor of fossil free portfolios. The analysis looked at equity funds and target date funds in the Google 401(k) plan, using data from company filings with the U.S. Department of Labor.

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