A recent study estimated Google employees lost out on $1.15 billion because of fossil fuel investments over the last 10 years.for its data centers and offices, frustrated employees are dismayed that the company isn’t doing enough in a less talked about arena: their 401s.
The campaign is headed by a small group of employees including Sam Asher, a technical writer who has been at Google for four years. Asher toldthat the group went through official channels to raise complaints to the company’s benefits team, after researching the company’s 401 options. Feeling dissatisfied with management’s “generic” response , the employees decided to rally their coworkers.
The circulation of the letter comes ahead of Google’s annual shareholder meeting on Friday, where the climate advocacy group As You Sow will present a shareholder proposal that Google be required to release a report outlining how it is protecting plan beneficiaries from the “increased future portfolio risk” of investing in fossil fuels.
“Any industry can underperform at any given period. But they've shown consistent underperformance relative to the amount of risk that they're taking.”
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