Can your retirement plan really help fight the climate crisis?

You might not consider your 401K as a potential solution to the climate crisis. But it is.

Annie Sartor
Two women working at a desk in an open plan office

The climate crisis is intensifying, and hitting home for people around the world; a recent study by the journal Nature found that 85% of the global population has experienced weather events linked to global warming. From fires to floods, heat waves to “bomb cyclones”, many of us are experiencing the effects of global warming not in some distant future, but today. 

It is this urgent reality of the climate crisis that is inspiring people from all walks of life to support action to address the climate crisis, and to look for new and innovative ways to do so. Your 401(k) or 403(b) fund may not be the first thing you think about when considering the climate crisis, but the investments that many of us hold in our retirement accounts are contributing to the climate crisis – and moving our money out of climate-destruction is an important way to help solve it.  

A recent poll found that a large majority of voters of all parties do not want their retirement accounts invested in climate-destroying oil and gas companies. The largest asset managers, including BlackRock, Vanguard and Fidelity, collectively manage nearly $22.5 trillion – including substantial investments in the companies that drive the climate crisis through deforestation, fossil fuel extraction and expansion, and projects that undermine Indigenous and human rights, and disproportionately harm Black, Indigenous, and other communities of color. 

Together, we can demand that the world's largest asset managers provide the climate-safe retirement options that the vast majority of people want. WorkForClimate has compiled a playbook for employee action on climate-safe retirement using advice from experts in the fields of climate and business, into easy-to-follow steps, and it’s available for free right here.

Take action with WorkForClimate and advocate for a climate-safe retirement option at your company. 

Feature photo by Jason Goodman via Unsplash.

https://www.workforclimate.org/post/can-your-retirement-plan-really-help-fight-the-climate-crisis
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