To: TIAA-CREF

TIAA-CREF indeed let us choose fossil-free!

TIAA-CREF said yes! They now will allow U.S. academicians a choice of whether or not to invest in fossil fuel and greenhouse gas intensive industries through this fund: https://www.tiaa.org/public/pdf/Social_Choice_Low_Carbon_Equity_Fund_Q_A.pdf

We have to our benefits departments to offer it to us, though.... One more step, team! Please go ask...

Why is this important?

This is why it mattered:

As teachers and investors interested in TIAA-CREF's Social Choice fund, we want you to offer us a low carbon option in your Social Choice fund, or eliminate fossil fuel-intensive investments from it. We look forward to learning more about investing in this more socially and environmentally sustainable choice.

We recognize that most industries rely somewhat on fossil fuels, but we also recognize that certain industries play particularly large roles in promoting climate change, the most critical global challenge to environmental, social, and financial sustainability. Social Choice's $1.8 billion fund states that it invests "in companies that are strong stewards of the environment", but has considerable (and readily eliminable) holdings in companies specializing in oil, gas, and coal extracting, transporting, and combusting like Duke Energy, Enbridge, Hess, Kinder Morgan, and Marathon Oil.

How it will be delivered

Via email & USPS; we also had a very productive in-person meeting at TIAA-CREF headquarters in New York City in April 2014 to discuss these ideas and how TIAA-CREF might act on them. And they did: https://www.tiaa.org/public/pdf/Social_Choice_Low_Carbon_Equity_Fund_Q_A.pdf


Reasons for signing

  • I hold shares in TIAA-CREF Social Choice, and am disappointed that they're not moving forward on this issue. They've had years to respond...
  • We need to be off fossil fuels by 2025 to have any chance of avoiding the worst effects of climate change. Fossil fuels are increasingly becoming a poor investment.
  • I will soon be consolidating all my retirement funds in fossil free funds. I am very happy to have TIAA Cref funds, but will withdraw them if I do not have this choice. If TIAA Cref gives me this choice, I willprobably transfer over 100,000 out of other funds to TIAA CREF.

Updates

2015-10-12 11:51:57 -0400

500 signatures reached

2014-04-13 17:09:54 -0400

100 signatures reached

2013-12-14 21:07:22 -0500

50 signatures reached

2013-11-18 21:50:20 -0500

25 signatures reached

2013-06-18 08:49:11 -0400

10 signatures reached