Giant global asset managers are still dumping tens of billions of dollars into new coal projects and hundreds of billions of dollars into major oil and gas companies. That’s according to a report out Wednesday from Reclaim Finance, an organization disclosing financial sector investments in fossil fuels. The report, titled “The Asset Managers Fueling Climate .
Today, in an open letter to Vanguard CEO Tim Buckley, over 100 organizations representing over 6 million people called on the world’s second-largest asset manager to enact the visionary financial leadership that is needed to meet the scale and urgency of the climate crisis. The letter comes with the launch of Vanguard S.O.S.