Did you know that five of the largest U.S. asset managers are investing hundreds of billions of dollars in fossil fuel companies and worsening the climate crisis?
In recent weeks you’ve taken action with us to call on Vanguard, the world’s second-largest asset manager, to stop investing in fossil fuel expansion and take climate risk seriously.
As #SummerOfHeat ramps up, we need to keep the pressure on all financial institutions financing climate destruction. That’s why we are excited to share a new video featuring our opossum friend breaking down how asset managers operate and expose Vanguard’s disastrous investments in projects that will continue exacerbating climate chaos.
Last week, the Federal Energy Regulatory Commission (FERC) gave the reckless 303-mile long natural gas Mountain Valley Pipeline (MVP) approval to begin operating, leaving local community members along the pipeline’s path furious and grieving. This black snake will threaten air quality, sensitive ecosystems, and local drinking water.
As our video explains, Vanguard invested $59 million in EQT Corporation, which is both the largest producer of methane gas in the U.S. and the anchor client for MVP.
Upon FERC’s terrible decision, it’s imperative that we call on Vanguard’s leadership to prioritize the rights of Indigenous people, our communities, environmental rights, and stop investing in projects like MVP!
Vanguard is slated to welcome their new CEO Salim Ramji in just a few weeks!
In solidarity,
– Nancy Treviño, Stop the Money Pipeline
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