sei_vanguard_letter_apr26_scan-d4f66909dd427c7a.pdf

A letter from the Stockholm Environment Institute U.S. to Vanguard's Investment Stewardship Oversight Committee urging the investment firm to adopt a policy requiring its core holdings to annually disclose financial risks posed by climate change, specifically transition risks.

• The Stockholm Environment Institute U.S. requests that Vanguard adopt a policy to increase transparency regarding the financial risks climate change poses to the core holdings of its funds and ETFs.
• The document identifies three primary ways climate change may affect financial stability, as noted by Financial Stability Board (FSB) Chairman Mark Carney: direct physical risks from severe weather, liability risks from parties seeking relief, and transition risks associated with moving to a low-carbon economy.
• The transition to a low-carbon economy, defined as limiting warming to 2 degrees C above pre-industrial levels, is described as a material challenge to the business models of specific Vanguard holdings that rely on fossil fuels, namely Exxon Mobil, Chevron, and ConocoPhillips.
• The letter highlights a lack of systematic risk disclosure by fossil fuel companies and notes that the International Energy Agency has warned that misreading the scale of the low-carbon transition could result in stranded assets, oil market volatility, and "major losses".

APA

Stockholm Environment Institute (2017). sei_vanguard_letter_apr26_scan-d4f66909dd427c7a.pdf. https://www.sei.org/mediamanager/documents/News/SEI_Vanguard_Letter_Apr26_scan.pdf

Chicago

Stockholm Environment Institute. sei_vanguard_letter_apr26_scan-d4f66909dd427c7a.pdf. 2017. https://www.sei.org/mediamanager/documents/News/SEI_Vanguard_Letter_Apr26_scan.pdf.

Wikipedia

{{cite press release |author=Stockholm Environment Institute |title=sei_vanguard_letter_apr26_scan-d4f66909dd427c7a.pdf |date=26 April 2017 |url=https://www.sei.org/mediamanager/documents/News/SEI_Vanguard_Letter_Apr26_scan.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@misc{stockholmenvironmentinstitute2017seivanguardletterapr26scand4f66909dd427c7apdf, author = {{Stockholm Environment Institute}}, title = {{sei\_vanguard\_letter\_apr26\_scan-d4f66909dd427c7a.pdf}}, publisher = {Stockholm Environment Institute}, year = {2017}, month = apr, url = {https://www.sei.org/mediamanager/documents/News/SEI_Vanguard_Letter_Apr26_scan.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }