The money you invested in index funds is being used to block climate change reform. Help us fix that! https://xitter.cf/t.co/IMt1Fp6YeE
Joined June 2019
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Did you know the money you invest in index funds is being used to vote against corporate policies that would mitigate climate change?
We're excited to introduce the Fund Climate Vote Database that shows the scope of the problem. Learn more here: voting.greengovernance.org/
The Department of Labor wants to stop ESG funds from being the default for retirement plans and makes it riskier for plan administrators to include them.
Funds that don't screen on ESG factors but advocate for ESG goals maximize impact & compliance.
wsj.com/articles/retirees-se…
The Fed is undermining ESG investors by directly lending to oil and tobacco companies. reuters.com/article/us-usa-f…
Green Governance retweeted
.@TheEconomist with some cold water on whether some investors' claims to take on climate change may be a bit overstated...
economist.com/briefing/2020/…
Ding ding ding! Returning SPY to its pre-pandemic high would increase State Street's annual revenue by $400 million! (not even including outflows returning to the fund).
A vaccine is worth tens of billions in annual profits to @blackrock @Vanguard_Group and @StateStreet
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BlackRock shows how it can use its position as a major owner of competing firms to get them to cooperate. We're pushing for similar action on climate. ft.com/content/b452ceb9-765a…
Green Governance retweeted
This might be worth worrying about, but there is a much more immediate problem with socially conscious investors having a smaller stake in bad companies:
Less shareholder oversight
Green Governance retweeted
Biggest asset managers attacked over role in climate change on.ft.com/39YE2Xp
Green Governance retweeted
"No ESG screening. Instead of ignoring high-emission firms, buy them and change them from the inside." Fantastic idea behind @GreenGovernance in line with research of @uzh_bf and others - greengovernance.org/
Green Governance retweeted
@jeffsommer's NYT piece highlights the core problem we're solving at @GreenGovernance. Index funds have so much power but do not use it responsibly. Investors with moral concerns deserve another option. nytimes.com/2019/12/12/busin…
Green Governance retweeted
For those interested in what Vanguard, BlackRock, and State Street are doing with those fossil fuel shares, check out our Fund Climate Vote Database: voting.greengovernance.org
This is how Vanguard's largest fund uses your money to vote on climate change proposals:
The Big 3 fund managers disclosed their 2019 voting records today!
We'll have more commentary next week, but the big takeaway for now is that things haven't gotten any better this year. Shocking.
See the latest here:
voting.greengovernance.org
Green Governance retweeted
Mutual funds have a responsibility to the workers whose money they invest. They must stand up for their interests in the boardroom. nyti.ms/2zg8mLV
Did you ever want to know how your index funds voted in 2017?
We just added 2017 voting records to voting.greengovernance.org for Vanguard, State Street, and BlackRock.
Here's how Vanguard's S&P 500 fund voted the last two years:
It's hard to reconcile "ESG indexing errors" with the philosophy behind passive index fund investing.
ESG index funds need to have transparent and objective methodologies. Otherwise investors would be justified in thinking them to be actively managed.
ft.com/content/5b6caa5e-bd4f…
@naumanbilly has a good take on "BlackRock lost $90b on fossil fuels" at the @FT
"Even if [BlackRock had wanted to] divest these holdings, it could not have offloaded them"
He asks: does it make sense to embrace index investing if you want to be green?
ft.com/content/4ad02fa4-b895…
Green Governance retweeted
Do you have an index fund? Here's how you can see if your money is being used to vote to make the climate crisis worse.
It's your money. Making a bad situation *worse*.
There are alternatives to doing this, and I think @greengovernance is really worth following to learn more.
Did you know the money you invest in index funds is being used to vote against corporate policies that would mitigate climate change?
We're excited to introduce the Fund Climate Vote Database that shows the scope of the problem. Learn more here: voting.greengovernance.org/
Thanks to shareholder engagement, IHG (Holiday Inn) has committed to reducing its carbon footprint per occupied room by 6 per cent by 2020.
ft.com/content/112c4a5e-b204…
"If IHG’s changes result in the greater use of alternative materials, such as metal and glass, the move could accelerate climate change. This is because alternatives materials emit much more carbon dioxide during their manufacture than plastics do." economist.com/gulliver/2019/…