Following recent revelations that mutual funds firms are cool to issues of global warming, more than 38,000 investors flooded mutual fund giants Fidelity Investments, American Funds and The Vanguard Group with petitions and letters urging them to focus on the financial implications of global warming.
“Mutual fund companies are a critical missing link in the push for better corporate disclosure about the financial implications for global warming,” said Mindy Lubber, president of the Ceres investor coalition. While a Civil Society Institute survey recently found that 70% of investors want their mutual funds to support climate resolutions, none of the country’s 100 largest mutual funds did so last year – including the three cited above – according to a Ceres poll.
