As the climate crisis grows, major asset managers are increasingly polarized. While some asset managers are taking bold action, the largest asset managers are failing to mitigate climate risk—jeopardizing their clients’ portfolios.

"Following the hottest year on record in 2023 ... the world's largest asset managers reneging on their commitments to CA100+ is clear backsliding on climate risk, exactly when investors need to raise their ambition" - Eli Kasargod-Staub, Majority Action https://t.co/dtms9eHZob

"Eli Kasargod-Staub, the executive director of Majority Action, a nonprofit in Washington focused on responsible investing .... called BlackRock’s move 'heinous risk mismanagement' that shows it views climate action as 'optional window-dressing.'"

Racial inequity, attacks on workers rights and inaction on climate change are a fundamental aspect of institutional investors' fiduciary duty. Check out our blog post on@TakeOnWallSt!

This is a great op-ed that places more responsibility on shareholders for enforcing sustainable climate goals. The conclusion says it all: "Big Oil needs to change, or Paris will fail. That’s a decision for shareholders." https://t.co/rQTl1IvJVP

Chevron's ($CVX) "racial equity audit" fails to satisfy shareholders' request both in terms of content and process. Not only were the co's impacts on communities of color not assessed, relevant stakeholder voices were not consulted in its development. https://t.co/FWVBmcO8v2

TOMORROW: Join us and @ICCRonline for “Becoming an Active Client: New Tools for Asset Owners on Managers’ Proxy Voting and Analyzing State Street’s Major Step Backwards on Climate," @ 11 a.m. EST.

ICCR has built a set of easy-to-use letters that institutional investors can send to their relationship managers and top management at major asset management firms. If you're ready to take a more active role in engaging your asset manager, register and join us 👇

Join us and @ICCRonline for “Becoming an Active Client: New Tools for Asset Owners on Managers’ Proxy Voting and Analyzing State Street’s Major Step Backwards on Climate," on Tuesday, May 9 @ 11 a.m. EST.

THIS WEEK: Join Majority Action + others for a webinar on corporate accountability at @jpmorgan. It's time to phase out financing for fossil fuel expansion. #ClimateJustice #PeopleVsFossilFuels Learn more on Wednesday, May 3, 9am PT/12pm ET. Register: https://t.co/FA88WylsDP

Join Majority Action other advocates for a webinar on corporate accountability at @jpmorgan. It's time to phase out financing for fossil fuel expansion. #ClimateJustice #PeopleVsFossilFuels Learn more on Wednesday, May 3, 9am PT/12pm ET. Register: https://t.co/FA88WylsDP

I'm watching today as shareholders vote on resolutions demanding that @Citi, @WellsFargo, and @BankofAmerica set stronger climate targets and stop financing fossil fuels. Not meeting these commitments puts our planet and financial system at huge risk. https://t.co/1b3Ne16nae

Is DTE Energy's political spending in opposition to its own policies? Please join a webinar hosted by the Defend Black Voters Coalition on Tuesday, April 25 from 2-3 PM ET. Sign up here:  https://t.co/myuCoECBAA

Financial institutions should consider all risks to investments, including the systemic risk of climate change. @Vanguard_Group's response to climate risk can't go unchecked. I urge their clients to raise concerns, like NYC is doing w/our fund managers. https://t.co/kD7x2cqz2W

Proxy voting in alignment with 1.5°C pathways is the only responsible approach to asset management in the era of the climate crisis. Your asset managers owe it to you to protect your portfolio and our planet. https://t.co/1dQipJhagt

Asset managers are rubber-stamping boards at companies driving climate change—threatening investors’ portfolios. Asset owners: Demand your asset managers change course!

After joining the Net Zero Asset Managers Initiative, @StateStreetGA has been touting their dedication to climate oversight. But to TRULY be a leader, they’ll have to do better than supporting 95.9% of directors at climate-critical companies. https://t.co/1dQipJhagt

With their outsized voting power, @BlackRock and @VanguardGroup could make a major impact. Instead, they supported 97.7% and 100%, respectively, of directors at failing climate-critical companies. Investors, these votes threaten your portfolio!

The big picture is bleak: 14 of the 20 asset managers analyzed in our report supported >95% of directors at climate-critical companies. That’s rubber-stamping a dangerous status quo. https://t.co/1dQipJhagt

While some asset managers have updated their policies to allow them to hold corporate directors accountable for climate oversight, you wouldn’t know it by their proxy votes. We’re looking at you @StateStreetGA @BlackRock @VanguardGroup 👀. https://t.co/1dQipJhagt