The dangerous consequences of Vanguard’s investment choices haunt most every community

By Amy Covill

This fall, we held a national coordinated day of action calling on Vanguard – the world’s largest investor in fossil fuels – to start investing for a livable future. From Pennsylvania to Arizona, from North Carolina to Wisconsin, and beyond, over 150 people across the country showed up. Youth, elders, community advocates, pipeline fighters, and people of faith came together to sing, deliver letters, speak out, dance, and pray for Vanguard leadership to finally get serious about the devastating impacts of their investment decisions. 

I was unable to participate at any of these action locations, having recently moved from the Philadelphia area to Washington state in order to be close to my newborn (and only) grandchild. However, in the spirit of the coordinated actions across the country, I decided to look for, and document, points of climate destruction in Washington and Oregon that have Vanguard’s dirty, fossil fuel fingerprints all over them. Sadly, this was easy. 

First, not far from my house in Walla Walla, a massive gasoline leak from a Chevron station storage tank has been so destructive, clean up costs have exceeded the station owners’ insurance limit and the state Department of Ecology has had to take over the clean up efforts. It is estimated that 200 tons of contaminated soil must be removed, in addition to the 10,000 gallon storage tank. Vanguard is the largest institutional investor in Chevron.

Photo by Amy Covill

Second, on my way to my granddaughter’s house, I pass by a site in Elgin, Oregon, owned by Boise Cascade, where the products of deforestation are on display. The timber pile is so large it sometimes creates a large shadow on the road, a reminder of the dark consequences of removing carbon-storing trees. Activists in Oregon recently blocked on-going logging by Boise Cascade and others by sitting in old-growth trees. Vanguard is the second largest institutional investor in Boise Cascade.

Third, in Hermiston, Oregon, there is a small utility company, Umatilla Electric Cooperative, that became one of Oregon’s biggest polluters starting in 2018. By 2021, its carbon emissions quadrupled, and they continue to soar. Seattle-based Amazon’s ongoing placement of data centers in this rural area is creating this mess. Vanguard is the largest institutional investor in Amazon.

Photo by Amy Covill

As I spend time with my daughter and her family, I expect to see more evidence of Vanguard’s destructive “tentacles” throughout the Northwest. When we are in the woods with the baby, I know I will see evidence of drought, wildfires, and habitat loss. However, I will hold on to the EQAT value of staying hopeful. As we continue to act together, I believe we have the power to ensure that change comes for all of our grandkids.

Top photo by Amy Covill