TJ Helmstetter on behalf of Vanguard S.O.S., tjhelm@gmail.com
In response to the news that Vanguard has hired Salim Ramji as its next CEO, members of the Vanguard S.O.S. campaign, which consists of civil society organizations focused on climate risk and responsible investing, released the following statements:
"For the first time in its history, Vanguard is choosing an outsider to take the reins, and we are hopeful this indicates a willingness for the company to change course. With this leadership transition, Vanguard has an opportunity to move from climate laggard to climate leader. We urge incoming CEO Salim Ramji to remain consistent with his support for sustainable investment practices by fully addressing climate-related financial risks and meeting the moment presented by the ongoing energy transition.” – Nancy Treviño, Asset Manager-Campaign Manager of Stop the Money Pipeline.
“Vanguard has repeatedly shown disregard for responsible climate risk management across its investments and stewardship practices. Vanguard continues to provide new capital for fossil fuel expansion and other drivers of the climate crisis, and has failed to use its enormous shareholder power to encourage portfolio companies to mitigate the systemic risks that will hurt its clients’ portfolios. Millions of people entrust their life savings to Vanguard and expect it will act in their best long-term interests. Vanguard’s new CEO has the opportunity to turn a new page and provide the climate leadership that its clients deserve and the world urgently needs.” – Ben Cushing, Fossil-Free Finance Campaign Director, Sierra Club
“Under Tim Buckley’s leadership, Vanguard has caved to right wing politicians and failed to adequately address the material risks of climate change – thus putting Vanguard clients’ investments at risk. This change in leadership offers an opportunity to steer the company in a new direction: one that puts responsible business over politics, puts long term financial security over short-term fossil fuel profit, and helps ensure a liveable planet for all of our futures.” – Lina Blount, Director of Strategy and Partnerships of the Earth Quaker Action Team
Vanguard S.O.S. first launched in 2022 in order to push Vanguard away from climate catastrophe and toward sustainable investing. The network includes civil society organizations, social movements, and financial experts.
About the Sierra Club
The Sierra Club is America’s largest and most influential grassroots environmental organization, with millions of members and supporters. In addition to protecting every person's right to get outdoors and access the healing power of nature, the Sierra Club works to promote clean energy, safeguard the health of our communities, protect wildlife, and preserve our remaining wild places through grassroots activism, public education, lobbying, and legal action. For more information, visit www.sierraclub.org.