Sign the petition: Demand BlackRock, Vanguard, and Fidelity use their power to fight climate change
BlackRock, Vanguard, Fidelity, other major fund managers
Major fund managers like BlackRock have huge power over the biggest polluters, but a terrible track record of holding these companies accountable. Some fund managers claim that they’ll use their power to ensure that companies act responsibly on climate, but year after year vote down climate shareholder resolutions and vote to re-elect business-as-usual directors to fossil fuel company boards.
It’s time they walk the talk.
In a few weeks, the boards of massive energy producers and consumers like ExxonMobil, Ford, Duke Energy, Amazon, Chevron, and General Motors face their shareholders each year at their annual meetings. This year the companies have a choice to make: Will they take steps to combat climate change and set the stage for others to do the same? Or will they keep us on the path towards climate catastrophe?
The incredible power of fund managers like BlackRock comes from us, millions of Americans who entrust these companies with our retirement savings. They invest our money by buying shares of the biggest corporations in the world. Those shares give them voting power at those corporation’s annual shareholder meetings, which they are supposed to use on behalf of our long-term interests.
That’s why it’s time they all hear from all of us.
In May and June, shareholders in big companies like Exxon and Amazon will vote on resolutions from shareholders that demand concrete action on climate change and on who should represent shareholders in the corporate boardroom. The resolutions call on top oil producers, electric utilities, carmakers, and Wall Street firms to:
Disclose political spending and lobbying, often used to fuel climate denial and obstruction
Invest in the transition to renewable energy and fossil fuel reduction
Take concrete steps to understand and mitigate against the effects of climate change
Ensure that powerful CEOs are being held accountable for all of the above
Fund managers will be casting their votes in the next couple of weeks so we need to get the message to them right now.
Please join us, along with the members of Majority Action, in calling on fund managers like BlackRock, Vanguard, and Fidelity to hold fossil fuel company leaders accountable and vote for the 2019 slate of smart-on-climate resolutions, now.
Climate Hawks Vote
CREDO Action
Daily Kos
Friends of the Earth Action
Greenpeace US
Sponsored by
Additional Sponsors
To:
BlackRock, Vanguard, Fidelity, other major fund managers
From:
[Your Name]
Major American companies in your portfolio are denying the inevitable on climate change for short-term gain.
In the coming weeks, shareholder resolutions at companies that produce or consume large amounts of energy, and that have a problematic record on addressing climate change, will come to a vote. The resolutions call for actions intended to create positive change and rein in irresponsible behavior, in four areas:
-Improving critical disclosures on political spending and lobbying, enabling investors to evaluate corporate support for climate denial and obstructionism
-Developing and implementing transition plans consistent with the goals of the Paris Agreement
-Taking concrete steps to understand and mitigate against the risks and effects of harmful fossil fuel use
-Ensuring independence at the board level to enable the above to happen
The companies with upcoming key climate votes include Amazon, Anadarko, Chevron, Duke Energy, Dominion, ExxonMobil, Ford, and General Motors. You can find the full list of companies and the specific key votes here: https://bit.ly/2HUqq4I
In addition, BlackRock itself faces an important shareholder resolution calling for improved lobbying disclosures, given its own membership in organizations that have opposed meaningful climate legislation or sought to undermine shareholder rights, such as the Chamber of Commerce and the Business Roundtable.
These votes are critical for maintaining and growing long-term shareholder value—which you have a duty to protect—as well as the survival and habitability of the planet.
On behalf of myself, your customers, and of future generations—I urge you to take your responsibility seriously, hold these company leaders accountable, and vote in favor of each of these important resolutions.
Sincerely,