From Vanguard employee to “Never Vanguard” pledge signer
I took a job at Vanguard a few years ago. I was under the impression that Vanguard was a less “evil” option because of their model of customers being the owners of the funds. I came into it with an open mind, but soon I heard “Vanguard has a climate problem.” The more I learned, the more disappointed I became. Vanguard’s environmental record is not just bad because they are an asset manager. They’re one of the worst compared to other asset managers.
At the same time, I was seeing what was happening in the world and drawing connections to the world of finance. My paycheck was coming from the direct continuation of centuries of extractive colonialism and capitalism. Last year I saw the film “The Zone of Interest,” a historical drama about the personal life of Auschwitz commandant Rudolf Höss and his family. As the characters sat around calmly discussing the extermination of people their government considered unimportant, I felt a chill of familiarity. It felt like my job.
There’s a saying I heard recently: “I have a fiduciary responsibility to maximize shareholder value” is today’s “I was only following orders.”
I can’t tell you the number of times I talked to people at work about Vanguard’s climate problem and they responded with some variation of this banal excuse. It’s time for Vanguard to stop denying responsibility and acknowledge their role in the destruction of the climate and the lives of people that capitalism deems “unimportant.”
At Vanguard, I knew a lot of people who shared my values, but it felt difficult for us to talk about how we could make things better. We were afraid. However, taking a small part in a Vanguard S.O.S. action, despite the backlash it produced at work, gave me confidence and hope that I could make a difference and that it was worth it to try.
I quit my job at Vanguard and took the Never Vanguard pledge. I’m proud to stand with those of you who’ve also committed to not work or invest with Vanguard until it makes serious changes with fossil fuels and environmental justice.
Thanks for being part of the growing wave of people pledging “Never Vanguard.” Let’s keep it going! If you haven’t already, please sign the pledge today. And if you have, spread the word about Vanguard and inspire others to sign the pledge with you!
Sincerely,
A former Vanguard employee & fellow pledge signer
Top photo by Rachael Warriner
