A coalition led by four activist organizations has organized a petition for 401(k) plan participants to demand their plans provide fossil-free investment options.
Divest-Invest, Environmental Action, Fossil Free Funds and HIP Investor Inc. have posted the petition, which had collected 20,932 signatures as of May 9, exceeding its goal of 20,000.
“If your 401(k) portfolio invests in fossil fuel producers, then your retirement nest egg could suffer higher risk and potentially lower returns,” says R. Paul Herman, CEO of HIP Investor, an impact investing advisory firm, in a news release. “401(k) fiduciaries need to focus on the forward-looking risks of the funds their firm is offering, and seek to add funds with cleaner energy solutions for the 21st century.”
The petition is posted at http:// goo.gl/4uyfnm.
