Mutuals failing to address sustainabilityJuly 2012
An analysis by Ceres and Fund Votes of 2011 proxy voting patterns indicates that mutual funds, with almost $12tn (£7.6tn, e9.5tn) under management, are failing to address sustainability. The three largest – American Funds, Fidelity and Vanguard, which manage $1.6tn in US securities – failed to support a single climate-related resolution. American Funds voted against every climate-related resolution, while Fidelity and Vanguard abstained in 90% of cases.
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