Director, Digital Strategies
The financial sector plays a role funneling billions of dollars to companies that make the weapons used in mass shootings, and these banks and lenders are increasingly acknowledging a moral responsibility to shun these weapon companies, even if legislators won’t.
Vanguard is one of the world’s largest asset managers, handling the retirement savings of millions of Americans. Its mission is to help people save for the future. At the same time, it’s playing a major role directing billions in funding to carbon polluters — companies maintaining and expanding the fossil fuel infrastructure that threatens to make the future uninhabitable.
Have you eaten an Oreo cookie recently? Or a frozen pizza, or a bowl of ice cream? Do you use soap, or laundry detergent, or cosmetic products? Then you’re likely buying products that contain palm oil, the world’s most widely used vegetable oil. It’s found in more than half of all packaged products purchased by Americans — but this global explosion in palm oil production is fueling deforestation, climate change, and other harmful environmental and social impacts.
Fossil free investing has grown exponentially in recent years. Faith-based and individual investors led the way in using environmental and social criteria to align their investments with their values. Large institutional investors like foundations and company 401(k)s are starting to follow their lead. As Washington D.C.’s environmental regression has gained steam, investors large and small are loudly reaffirming commitments to a low-carbon economy.
Retiring coal-fired power plants could be the most effective use of major investments to limit global warming. That’s why Fossil Free Funds combined forces with Macroclimate® to highlight investments in the most carbon-intensive utilities with coal-fired power plants — companies that can be found in nearly everyone’s retirement portfolio.