Extinction Rebellion targets fossil fuel funder Vanguard in Glasgow
June 14, 2022
Extinction Rebellion Scotland disrupts Vanguard’s Sustainable Life roadshow at the Grand Central Glasgow Hotel. The protest is to draws attention to the US investment giant’s role in funding the climate crisis and its recent refusal to end new fossil fuel investments.
Activists inside the roadshow disrupted the presentation by asking questions and giving statements on the impact of Vanguard’s climate destroying investments. They held banners saying ‘Unregulated Unaccountable Unstoppable’ and ‘Vanguard; invested in climate destruction’.
Outside the hotel, a group of activists gathered with fire alarms to sound the alarm on Vanguard’s investments. They also gave statements about the impact of the asses management firms actions. The group had a banner reading ‘Vanguard invests billions in fossil fuels”.
Vanguard is the world’s second-largest asset manager and the biggest investor in climate-wrecking coal. It manages an $8 trillion portfolio, with over $300 billion directly invested in fossil fuels.
Last month Vanguard unveiled its new net zero climate commitment, revealing that less than 5% of its total assets are in line with net zero by 2050. It means Vanguard has the worst climate targets among major asset managers.
Responding to criticism from campaigners, the company’s CEO Mortimer Buckley stated that Vanguard is committed to maximising profits for its investors, rather than stopping investment in new oil, gas, and coal infrastructure.
Michael Carr, 60, management consultant said:
“Vanguard investments in fossil fuels are not consistent with world Climate goals. I’m here today to say to investors, Put our children and the planet before profit. Stop investing in fossil fuels.”
Angela Paton, 49, carer, said:
“Companies like this should tell the truth about where they invest the money of others, not green washing when they have so many get out clauses. I’m carrying out this action to let people hear the truth.”
Emma-Jayne Easton, 39, artist said:
“Companies like Vanguard rely on being hidden from public view in order to get away with profiting from ecocide. It’s time to shine a light on them.”
The Sustainable Life roadshow is a series of events in June visiting cities from London to Glasgow to Birmingham. The roadshow aims to promote Vanguard’s new sustainable multi-asset fund to independent financial advisors.
 Campaigners respond to Vanguard’s climate targets
 Vanguard refuses to commit $5 trillion index-tracker funds to net zero
 Vanguard CEO Mortimer Buckley: “Our duty is to maximise long-term total returns for clients. Climate change is a material risk but it is only one factor in an investment decision.”
 International Energy Agency findings that no new that no new coal mines or oil and gas fields can be developed under a 1.5°C warming limit
 Antonio Guterres on ‘moral and economic madness’ of investing in fossil fuels
 Vanguard Sustainability Roadshow