To: BlackRock Institutional Trust Company, N.A., Assett Manager for Federal Government Thrift Savings Plan
Government Employees Invest In Big Oil Through Their Retirement Savings Plans! Please ask C Fund ...
It's bad enough our government gives billions of dollars in tax subsidies to Big Oil, but did you know that government employees, including regulators and legislators, also invest in ExxonMobil and Chevron through their retirement savings plans? With fossil fuel corporations banking on exploiting 5 times the amount of carbon considered safe to burn without exceeding a 2-degree C global temperature increase (see http://math.350.org), government employees should be concerned about the fact that they're investing in Big Oil's business plan for wrecking the planet! Please ask the government employees Thrift Savings Plan (C Fund) retirement fund managers to DIVEST from BIG OIL! There are better alternatives with better long-term growth potential (e.g., http://www.greentechmedia.com/articles/read/U.S.-Solar-Market-Spikes-with-742-MW-in-Solar-Installations-in-Q2-2012 )
Why is this important?
I'm a government employee, and I'm angry because my Thrift Savings Plan retirement fund portfolio includes ExxonMobil and Chevron Corporation. I think it has become a moral imperative that we move away from fossil fuels and into green technologies. We can't seem to stop the flow of billions of dollars in tax subsidies to Big Oil, but as government employees, we can exercise our rights to ask our fund managers to divest from ExxonMobil and Chevron, or at least give us a green fund alternative. With fossil fuel corporations banking on exploiting 5 times the amount of carbon considered safe to burn without exceeding a 2-degree C global temperature increase (see http://math.350.org ), government employees should be concerned about the fact that they're investing in Big Oil's business plan for wrecking the planet! There are better investment alternatives with better long-term growth potential (e.g., solar).