Daily News | Vanguard quits clean energy group after 13 states complain
an international group committed to reducing net greenhouse gas emissions to zero by 2050.
To be sure, Vanguard had committed only 4% of the $8 trillion it invests for clients to Net Zero’s goal of providing all energy from non-carbon sources by 2030, Jayson O’Neill, a spokesman on behalf of Net Zero, said in a statement. The 4% does not include Vanguard’s large index funds, which include gas-burning utilities such as Exxon and coal-burners such as American Electric Power Co.
They accused Vanguard of putting politics before investors’ best interests and urged FERC to hold a hearing to review whether Vanguard’s goals matched those of investors before deciding whether to give Vanguard permission to buy electric utility stocks over the next three years. Why did Vanguard join the alliance of more than 200 money managers committed to replacing coal and natural gas in the first place?
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