Asset Managers :(

A new report from our friends at the Sierra Club reveals how just five major asset managers are pouring billions of your hard-earned dollars into fossil fuel expansion like the Mountain Valley Pipeline or the Willow Project.

These asset managers – BlackRock, Vanguard, JPMorgan Asset Management, State Street Global Advisors, and Invesco – collectively manage more than $25 trillion on behalf of their clients — which is more than the GDP of the entire United States (including holding $741 billion in shares and bonds of fossil fuel companies). Because of their size, where they decide to invest makes a difference; their decisions are critical in determining whether we hit global climate goals or continue down a fossil fuel intensive path.

Call on Wall Street’s biggest asset managers: Tell them to stop financing the climate crisis!

New fossil fuel projects, like the Willow Project or the Rio Grande LNG terminal, can’t happen without the money that fossil fuel companies raise through the sale of bonds. And bond sales can’t be successful without investors, especially the world’s largest asset managers, agreeing to buy them.

Yet, despite climate commitments, Wall Street’s largest asset managers continue to buy billions of dollars of fossil fuels bonds every year. In order for fossil fuel expansion to stop, investors must stop buying bonds from companies expanding fossil fuel production and building new fossil fuel infrastructure. To put asset managers on the right track, we must demand that they stop funding fossil fuels.

Join us in calling on the CEOs of Wall Street’s biggest asset managers to stop financing the climate crisis. Sign our petition and we’ll deliver the signatures to these CEOs to make sure they get the message.

In solidarity,
– the Stop the Money Pipeline team

PS: If you haven’t already, you can read Sierra Club’s new report “Investing in Carbon Bombs: How Asset Managers Are Using Your Savings to Finance Fossil Fuel Projects and Fuel the Climate Crisis” here.

Sent via ActionNetwork.org. To update your email address, change your name or address, or to stop receiving emails from Stop The Money Pipeline, please click here.