Vanguard must appoint new board leadership that will fiercely champion racial, economic, and climate justice

The world’s second largest asset manager, Pennsylvania-based Vanguard, has over $8 trillion in assets under management and ownership stake in over 10,000 corporations. With its market dominance, Vanguard has the ability to raise industry standards for socially and environmentally conscious investing. But in reality, Vanguard lags far behind its peers in its climate action and commitments. The asset manager is also flooding capital into extractive industries that pollute BIPOC communities, exacerbate our climate crisis, and expand policing and surveillance operations in BIPOC communities.

In fact, Vanguard pours billions of dollars every year into polluting, carceral, and surveillance corporations that harm BIPOC communities, even in its so-called “sustainable” Environmental, Social, and Governance (ESG) funds. And, Vanguard’s Donor-Advised Funds have been used to channel enormous amounts of money to climate change denying groups and right wing groups fueling bigotry.

Today, we’re taking action directly on Vanguard to demand new board leadership that will fiercely champion racial, economic, and climate justice and can lead the firm toward full divestment from these harmful corporations and sectors.

Asset managers, like Vanguard, have played a significant role in financing pollution, violence, and harassment in Black, Brown, and Indigenous communities in the U.S. and across the Global South by pumping billions of dollars into these industries for years. To begin to repair the harm Vanguard has financed, it is critical that Vanguard elects racial, economic, and climate justice champions to its board of directors to ensure that the perspectives of frontline BIPOC communities and allies are represented at the highest level of Vanguard’s decision making. Will you take action on Vanguard today to demand new leadership?

You can learn more about Vanguard’s harmful investments in our new report “Vanguard’s Empty Promises: How Vanguard Funds Harm and Fuels Extractive Industry.”

Send a message to Vanguard staff and board to demand new board leadership

As of now, Vanguard’s board of directors operates in a way that lacks sufficient transparency and accountability to its clients and the communities harmed by its investments. Will you take action on Vanguard today to demand new leadership?

Fill out the form below to tell Vanguard Staff and Board: The time is long overdue for Vanguard to begin stopping and repairing the harm it has financed. It's time to elect racial, economic, and climate justice champions to Vanguard’s board of directors.

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Dear [recipient position will go here] [recipient name will go here],

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As the world’s second largest asset manager with over $8 trillion in assets under management and ownership stake in over 10,000 corporations. With its market dominance, Vanguard has the ability to raise industry standards for socially and environmentally conscious investing. But in reality, Vanguard lags far behind its peers in its climate action and commitments and your firm’s investment practices are flooding capital into extractive industries that pollute Black, Indigenous and other People of Color (BIPOC) communities, exacerbate our climate crisis, and expand policing and surveillance operations in BIPOC communities.

A recent report, Vanguard’s Empty Promises: How Vanguard Funds Harm and Fuels Extractive Industry, unveiled Vanguard’s investments in harmful, carceral, and polluting corporations and points out the many environmentally and otherwise harmful companies supported by your own so-called “sustainable” ESG fund. The report also reveals how Vanguard’s Donor-Advised funds continue to channel money to climate change denial groups and groups fueling bigotry. You can access the report here: VanguardsEmptyPromises.org

These findings are deeply concerning for me and I’m writing to urge you to immediately divest from these harmful and high-risk sectors. I also urge you to elect racial, economic, and climate justice champions to Vanguard’s board of directors to drive processes to improve the firm's governance and investment practices. As of now, Vanguard’s board of directors operates in a way that lacks sufficient transparency and accountability to its clients and the communities that are harmed by its investments.

Vanguard has played a significant role in financing pollution, violence, and harassment in Black, Brown, and Indigenous communities by pumping billions of dollars into these industries for years. Vanguard’s board of directors lacks adequate transparency and accountability to its clients and the communities that are harmed by its investments. The time is long overdue for Vanguard to begin stopping and repairing the harm it has financed. Electing racial, economic, and climate justice champions to Vanguard’s board of directors is a first step to ensuring that the perspectives of frontline BIPOC communities and allies are represented at the highest level of Vanguard’s decision making.

Respectfully,
[your name will go here]
[your email address will go here] [your location will go here]

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