At 11 p.m. eastern on April 20, 2022, Vanguard quietly published a blogpost on its website outlining the firm’s current approach to climate change. The post contains no new commitments or details on Vanguard’s part. Perhaps the only truly noteworthy aspect of this post is its timing — Vanguard published it a mere 14 hours after the launch of the Vanguard S.O.S. campaign.
While publicizing climate efforts is always a good thing for accountability, the post lacks both substance and specifics. So, following in the footsteps of shareholder advocacy organization As You Sow, the Vanguard S.O.S. campaign decided to add a few necessary edits to Vanguard’s post.
Resources used as the basis of our critique:
- Intergovernmental Panel on Climate Change report press release
- Majority Action — Climate in the Boardroom report
- Institute for Energy Economics and Financial Analysis report on Vanguard
- Global Coal Exit List — Investor report
- U.N. Secretary-General António Guterres statement on coal and stranded assets