Starting at the end of last year, members of Elders for Social Justice were moved by George Monbiot’s Guardian article on capitalism to think more deeply about the connections between money and social injustice, and how to think and act about money differently, to create a more just environment. We are calling this framework, “Follow the Money.”
We are beginning by addressing how our money is being invested and how we can leverage our power as elder investor activists on investment companies and banks. We are focusing on Vanguard, one of the largest investment management firms and one of the two biggest investors in oil and gas in the world.
- Vanguard has 104 billion dollars invested in the 12 most devastating fossil fuel projects planned or under development in the world.
- Vanguard is the largest investor in the coal industry, currently investing $86 Billion.
- Vanguard lags far behind its peers in climate action and action on climate commitments.
- In 2021, Vanguard signed the Net Zero Asset Management Initiative. It has no plan in place to act on its commitment.
WHAT CAN YOU DO?
- Take part in Vanguard’s Very Big Climate Problem.
- If you invest with Vanguard – don’t sell your stock! Read more here about how you can use your power as a customer.
- Join Elders for Social Justice to help with research, writing and outreach.
Other issues we want to address as part of this campaign include banking—banks’ use of our money to fund unjust practices and the fossil fuel industry; environmental racism; the injustices of our health care, pharma, and food industries.
Money is like water. It can be a conduit for commitment, a currency of love. Money moving in the direction of our highest commitments nourishes our world and ourselves. –Lynne Twist