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In the fight for a livable planet, everyone knows elections are important. Every spring, investors have the chance to vote in some of the most critical climate elections of the year. The biggest shareholders have an outsized influence in these elections.
Unfortunately, Wall Street has a history of voting against our future. We need to change that.
This shareholder season, there are five key climate votes on the ballot at Wall Street banks. These votes shape how banks will act -- what fossil fuel projects get built, how climate solutions are funded, and what kind of responsibility banks and their clients will take toward Indigenous and frontline communities.
Banks have bankrolled the climate crisis for years, pouring billions of dollars into fossil fuel companies, facilitating the construction of new coal, oil, and gas projects, and ignoring the risks that this financing poses to communities, investors, and the entire economy.
As some of the largest shareholders in these banks, asset managers like BlackRock, Vanguard, Fidelity, and State Street, are uniquely positioned to make a huge impact on these important votes.
As our climate crisis worsens, it's imperative for asset managers to vote the right way in these critical climate elections. This year, they must show their support for these key resolutions and vote out directors at companies with failing climate commitments.
If they vote no again this year, there's no excuse. They'll be blatantly disregarding climate science, the needs of frontline communities, and the best interests of the public and their clients.
Tell the biggest asset managers: Stop banks' reckless funding for new fossil fuel expansion.