Email Vanguard’s leadership & tell them: reintroduce your interim emissions reductions plan with actual targets

An image of Vanguard CEO Tim Buckley in a captain's hat with his fingers in his ears. The text beside it reads "Vanguard doubles down on fossil fuel investments"

Vanguard recently doubled down on its fossil fuel investments, refusing to release an actual plan for how it will reduce emissions to reach net zero by 2050. As a signatory of the Net Zero Asset Managers initiative (NZAM) — a sister initiative to U.N.-backed Race to Zero which criteria applies to all NZAM signatories — Vanguard pledged in 2021 that it would release interim emissions reductions targets within a year that should have outlined how the firm would reach net zero by 2050.

But instead of releasing any kind of actual plan, Vanguard simply punted. Its leaders chose to point to the paltry 4% of its assets under management (AUM) that are currently on track to be net-zero aligned by 2050, and said that less than half of that 4% is ‘expected’ to be net-zero aligned by 2030; a drop in the bucket in the context of the $8.1 trillion in AUM that Vanguard manages.

In a timely manner, Race to Zero just updated its criteria that, among other things, explicitly require financial institutions to “restrict the development, financing, and facilitation of new fossil fuel assets, which includes no new coal projects.”

Vanguard has by far the least ambitious, most foot-dragging participation in NZAM of all the major asset managers. It’s time for a do-over. Vanguard should introduce new coal, oil, and gas exclusion policies and resubmit a REAL emissions reduction plan.

Right now we have a limited period of time to raise our voices together and tell Vanguard that its first attempt at a non-plan was totally unacceptable. Use this form to send an email to Vanguard today; it takes less than 2 minutes and can make a big difference!

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