Giant global asset managers have $82 billion in coal projects, $468 billion in oil and gas
Reclaim Finance found that collectively 30 asset managers have $82 billion in companies developing new coal projects and $468 billion in 12 major oil and gas companies. In a ranking of the asset managers, six received the worst possible score — zero out of 30. Because of its size and fossil fuel investing records, Vanguard drew particular ire and a collective of 100 organizations wrote an open letter to its CEO calling out the company’s lack of climate action.