Vanguard quitting the NZAM/GFANZ).(climate net zero group)

[retiredat48]

Hmmm...Barron's reports that Vanguard is quitting the NZAM/GFANZ.  Per google:


What does GFANZ stand for?
The Glasgow Financial Alliance for Net Zero (GFANZ) is a global coalition of leading financial institutions committed to accelerating the decarbonization of the economy.
From google:

--Who are the members of GFANZ?
Alliance members include banks, insurers, asset owners, asset managers, financial service providers, and investment consultants. All members have independently committed to the goal of net zero by 2050, in addition to setting interim targets for 2030 or earlier and reporting transparently on progress along the way.

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Wonder how much ESG heat Vanguard is getting from its shareholders, which BTW are all the investors who have money at Vanguard.

I had planned to write Vanguard expressing that I desire that I vote my own shares in proxy situations, and that Vanguard should not be controlling these billions and billions worth of security voting rights....aka the Blackrock situation.

R48

[bizman]

Good move.  If people want to require these offerings to the gods of Net Zero, along with their associated costs, they should move it through the political system.  Like Charlie Munger, I don't want Larry Fink as my emperor.

[ECE Prof]

Dec 12, 2022 2:44:37 GMT bizman said:

Good move.  If people want to require these offerings to the gods of Net Zero, along with their associated costs, they should move it through the political system.  Like Charlie Munger, I don't want Larry Fink as my emperor.

I already quit Vanguard — almost after 30 years later. What about that? Vanguard can eat its own rules. My neighbor from Carthage, TN, Al Gore, expressed his outrage already.