rich 1.0 Action Network https://actionnetwork.org <link href='https://actionnetwork.org/css/style-embed-v3.css' rel='stylesheet' type='text/css' /><script src='https://actionnetwork.org/widgets/v6/petition/tell-asset-managers-quit-coal-or-well-quit-you?format=js&source=widget'></script><div id='can-petition-area-tell-asset-managers-quit-coal-or-well-quit-you' style='width: 100%'><!-- this div is the target for our HTML insertion --></div> Stop The Money Pipeline https://actionnetwork.org/groups/stop-the-money-pipeline https://can2-prod.s3.amazonaws.com/petitions/photos/000/402/481/normal/Don't_let_the_biggest_asset_managers_give_the_world_coal_for_Christmas_(1500_%C3%97_500_px).png Asset managers – institutions that manage retirement and pensions –are at the top of naughty list this year for their alliance with fossil fuels and its profit. In fact, they are becoming an increasing source of financing for coal companies. As more global banks adopt policies to restrict their financing of coal, coal companies are looking to raise money by selling bonds and equities to asset managers, including BlackRock and Vanguard. While many of the world’s largest asset managers have adopted climate commitments, the overwhelming majority don’t have any policy that limits them from giving money to some of the most polluting companies in the world. Last week, one of the biggest asset mangers, Vanguard, even showed their true colors by dropping out of the Net Zero Asset Managers Initiative, an international climate pledge. Halting coal financing isn’t just something for a wish list; we know asset managers can make this shift because some already have! Earlier this year, HSBC Asset Management – an institution that manages over $570 billion dollars in investments – committed to phase out its investments in coal companies in line with the goals of the Paris Agreement. And the science is clear: fossil fuel expansion is incompatible with limiting warming to 1.5C. We need to follow the science and move investments away from coal. Rather than giving the world more coal for Christmas, it’s time for the world’s biggest asset managers to put their money where their mouth is, and we need your help! Join us in calling on BlackRock, Vanguard, Fidelity, and State Street to phase out their investments in thermal coal. This petition is Co-sponsored by Stop the Money Pipeline, the Sierra Club, and FixMyFunds. https://actionnetwork.org/petitions/tell-asset-managers-quit-coal-or-well-quit-you