Climate Campaign Accuses Vanguard of ‘Environmental Racism,’ Encourages Customers to Promote Change

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vanguard protest
Image via Earth Quaker Action Team.

A 40-mile walk that is part of a climate campaign targeting Vanguard is underway this week as protestors make their way to the investment giant’s headquarters in Malvern to raise awareness of the money it has put into fossil fuel companies, writes Catherine Dunn for The Philadelphia Inquirer.  

Organizers of the campaign, including the Philadelphia-based Earth Quaker Action Team (EQAT), are trying to pressure Vanguard into reevaluating its stock purchases that are “a major driver of climate destruction and environmental racism.”

While EQAT officials said that Vanguard has made positive changes, like issuing a statement about coal risks, but has not addressed climate change. The company also increased its coal investments to $101 billion. 

“Vanguard considers climate change to be a fundamental risk to many companies and their shareholders’ long-term financial success,” said Vanguard spokesperson Emily Farrell. 

EQAT said that the walk is not meant to harm Vanguard’s business, but rather to encourage customers to promote change.  

“We would much rather see Vanguard improve its practices,” said EQAT’s Eileen Flanagan. 

Read more about Vanguard in The Philadelphia Inquirer.

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