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Text Content

Doug Burnett | Portland, OR

JOIN US
Feb 6-12, 2024—thousands virtually marched down Wall Street to get every
American a 401(k) option that doesn’t invest in Big Oil. It was seen over 26M
times, with 25+ celebrities and 30+ nonprofits joining us.

For 99% of America, if you want a 401(k), you're forced to invest in Big Oil. We
got loud and Wall Street took notice. This march was step one of many we are
taking to turn unified collective action into a significant divestment from
fossil fuels in America's 401(k)s. Sign up to join the next collective action
for change.


SIGN UP TO JOIN THE NEXT ACTION WE TAKE.

We regularly take bold simple actions together to divest fossil fuels from
401(k)s. Sign up to get on the newsletter to be one of the first to know.


Submit

THANK YOU

You have successfully joined our subscriber list.


This is how we marched.


UPLOADED A SELFIE

We uploaded a selfie to an app.


GENERATE A PHOTO

The app made several different photos for people to choose from.


SHARED ON SOCIAL

People picked their favorite and shared it on Twitter, Instagram, Facebook, and
LinkedIn.


PEOPLE WHO MARCHED



DON CHEADLE

Actor Hotel Rwanda, Iron Man

ELAINE HENDRIX

Actress, Parent Trap, Superstar, Dynasty

AYANA ELIZABETH JOHNSON

Climate scientist, How to Save a Planet

SHEPARD FAIREY

Reknowned artist, activist

BILL MCKIBBEN

Climate change author

ADAM MCKAY

Director of "Don't Look Up" and "Big Short"

BILL DE BLASIO

Former mayor of New York City

ANDY RICHTER

Actor, Conan O'Brien

ANDERS MORGENTHALER

Danish comics artist and children's book author

ANDREA DIDDY

Romanian model

DAN PULZELLO

Comedian

ALEX LEWIS

American actor, producer, comedian

JOANNE CARDUCCI

Political activist, JoJo from Jerz

KAY CANNON

Screenwriter, producer, director, and actress, Pitch Perfect, "Blockers

KELLY CORRIGAN

Writer and host of Exactly

MICHAEL IAN BLACK

Comedian, actor, writer, and director, Stella, Wet Hot American Summer

REX LEE

Actor, Entourage, Suburgatory

SCOTTIE THOMPSON

Actress, NCIS, 12 Monkeys





CELEBRITIES MARCHING

Don Cheadle
Actor Hotel Rwanda, Iron Man
Elaine Hendrix
Actress, Parent Trap, Superstar, Dynasty
Ayana Elizabeth Johnson
Climate scientist, How to Save a Planet
Shepard Fairey
Reknowned artist, activist
Bill McKibben
Climate change author
Adam McKay
Director of "Don't Look Up" and "Big Short"
Bill de Blasio
Former mayor of New York City
Andy Richter
Actor, Conan O'Brien
Anders Morgenthaler
Danish comics artist and children's book author
Andrea Diddy
Romanian model
Dan Pulzello
Comedian
Alex Lewis
American actor, producer, comedian
Joanne Carducci
Political activist, JoJo from Jerz
Kay Cannon
Screenwriter, producer, director, and actress, Pitch Perfect, "Blockers
Kelly Corrigan
Writer and host of Exactly
Michael Ian Black
Comedian, actor, writer, and director, Stella, Wet Hot American Summer
Rex Lee
Actor, Entourage, Suburgatory
Scottie Thompson
Actress, NCIS, 12 Monkeys



19%


99%


16


22




A FIFTH OF ALL MONEY INVESTED IN OIL + GAS COMES FROM OUR RETIREMENT ACCOUNTS.

The money invested in the US fossil fuel industry from US 401(k)s and IRAs
account for 19% of the market value of US oil, gas, and coal companies.

Source


99% OF PEOPLE HAVE NO OPTION TO AVOID OIL + GAS INVESTMENTS

Companies have to give employees a limited number of investment options in their
retirement plans. Most Americans have no climate-safe option available in that
limited list their employer provides.

Source


GET AN ELECTRIC CAR
INSTALL SOLAR
GO VEGAN
NEVER FLY AGAIN
ONLY BUY RECYCLABLE
COMPOST YOUR WASTE
INSTALL A HEAT PUMP
BUY ORGANIC
BUY LOCAL
UPCYCLE WASTE
UNPLUG DEVICES




SAVES 16 TONS

of carbon emissions per year
Source


GET OIL + GAS OUT OF YOUR 401(K)


SAVES 22 TONS

of carbon emissions per year
Source1


BIG OIL IS BAD FOR YOUR WALLET


IT HAS BAD
LONG-TERM RETURNS


IT'S RISKY

10-year volatility of each sector of the economy.

Source: Performance and volatility data from Sept 2014 to Sept 2023 for the ETFs
with the following tickers: IYC, IYW, IYH, IYK, IDU, IYM, IYF, IYJ, and IYE.
Inspired by the sector performance and volatility data presented by S&P Global
for the decade from 2010 to 2020, here.

In financial lingo, the Energy sector is the fossil fuel industry. Every company
in the Energy sector is a fossil fuel company. (Solar companies get classified
under Tech). The Energy sector has been the lowest-performing industry of the
past decade.


HERE'S THE PLAN

THIS VIRTUAL MARCH MAKES HEADLINES.

WALL STREET TAKES NOTICE.

WE COORDINATE OUR EFFORTS INTO SMALL DOABLE MONTHLY ACTIONS.

WE INSPIRE COMPANIES TO ADD CLIMATE-SAFE OPTIONS.

BILLIONS OF DOLLARS ARE REMOVED FROM BIG OIL INVESTMENTS.





“THE FOSSIL FUEL INDUSTRY IS GENUINELY FREAKED OUT BY THE  DIVESTMENT MOVEMENT.”


NAOMI KLEIN

New York Times best selling climate author


OUR COALITION

This virtual march has been organized by a coalition of non-profit, for-profit,
and public benefit organizations that work to make climate-safe investment
options available to everyone everywhere.




FAQ

WHAT IS THE PURPOSE OF THE VIRTUAL MARCH DOWN WALL STREET?

The virtual march is protesting the forced investment in fossil fuel companies
through American retirement savings plans. The goal is to convince the
gatekeepers of 401(k) and 403(b) plans to offer climate-safe investment options
and to raise awareness of how risky it is to invest in the fossil fuel industry.

WHY IS THIS MARCH VIRTUAL, AND HOW CAN I PARTICIPATE?

This is a virtual march so that anyone can participate from anywhere. To
participate, you can upload a selfie, and we will generate a photo as if you
were marching in person. You can share the photo and a caption with your family
and friends, and on your social media feeds, to help spread awareness of the
issue.

WHY ARE 401(K) SAVINGS BEING TARGETED IN THIS PROTEST?

19% of all the investments in the fossil fuel industry comes from 401(k)s, where
99% of plan participants have no choice to invest otherwise. This march aims to
challenge this system and advocate for climate-safe investment options, which
avoid the investment risk associated with fossil fuel companies and will help us
have a safe planet to enjoy during retirement.

I DON’T HAVE RETIREMENT SAVINGS. CAN I STILL MARCH?

Yes! The choices that people who are preparing for retirement make impact all of
us, and you can absolutely make your voice heard on how you think they should
invest. We will follow-up after the virtual march with real actions you can take
to invest in a climate-safe way, and you can file those emails away for that day
in the future when you start saving for retirement. In the meantime, you can
share the emails with your family members or friends who do have retirement
savings.

WHO ARE THE GATEKEEPERS AND WHY ARE THEY IMPORTANT IN THIS CONTEXT?

The gatekeepers are the financial advisors, platform companies, consulting
firms, and lawyers who specialize in 401(k) and 403(b) plans, known as ERISA
plans. They have been the biggest influencers in deciding what fund options are
made available to employees in retirement plans, and many have prevented
employers from offering climate-safe investment options when they have requested
them.

HOW DOES THE FOSSIL FUEL INDUSTRY MISLEAD SAVERS?

The fossil fuel industry has invested billions in the past year alone to pass
laws across the United States to prevent people from being able to avoid fossil
fuel investments in their retirement savings. From the Senate floor to shows on
Fox News, they have consistently told Americans that they have to make a choice
between investing with their progressive values vs invest for good returns,
ignoring the data that shows climate-safe investing has resulted in better
returns. Why? Because 21% of all the investments in the fossil fuel industry
comes from 401(k)s, and they are scared that if people are allowed to invest
otherwise, they will lose a significant portion of those investments.

WHAT IS MEANT BY VOLATILITY IN INVESTMENTS, AND WHY IS IT IMPORTANT?

In the financial industry, volatility refers to the degree of variation in the
value of an investment. Higher volatility means higher risk, as the value of the
investment can fluctuate significantly. Oftentimes investors choose to invest in
more risky things, because those things offer better returns over the long term.
In the case of the fossil fuel industry, it has been both the most volatile
industry in the economy, as well as the industry that has offered the lowest
returns over the long term. That is likely part of why big institutions ranging
from the Harvard endowment to the Rockefeller Foundation have decided to stop
investing in it. Individuals should have that option too.

WHO IS PARTICIPATING IN THIS VIRTUAL MARCH?

Anyone can participate from anywhere. The virtual march is organized by a
coalition of organizations that work to get climate-safe investment options in
retirement plans. You can see the list of participants in the coalition on the
home page.

CAN FOSSIL FUEL INVESTMENTS AND SUSTAINABLE PRACTICES COEXIST?

To achieve international climate goals, between two-thirds and four-fifths of
fossil fuels must remain in the ground. But fossil fuel companies continue to
pour money into extracting and selling fossil fuel reserves — all while actively
expanding their operations. They have a tremendous financial incentive to delay
the transition towards a sustainable society and to destroy legislation that
might speed up the transition. People of color and low income communities suffer
disproportionate harm from fossil fuel pollution and the discriminatory systems
that have perpetuated these inequities. Black, Latinx, and low-income Americans
are especially likely to live near unplugged oil and gas wells. The fossil fuel
industry is a deeply racist, destructive, and dishonest institution that powers
war, environmental destruction, and human rights violations. Even though the
climate crisis is here, the industry continues to shut down legislation to
mitigate global warming, and profits off of the public health crises it causes
in frontline communities.

DOES DIVESTING MAKE A DIFFERENCE?

Fossil fuel divestment—like divestment from tobacco stocks, weapons, or
apartheid South Africa—is an organizing tactic that shines a spotlight on an
issue. Our goal is to remove the social license of the fossil fuel industry.
When funds own fossil fuel stocks, they contribute to the veneer of legitimacy
that enables companies to keep expanding operations at a time of climate crisis
and to stifle the demands for justice from the communities who live on the
frontline of their destructive, polluting operations. The political influence of
the fossil fuel industry is the single most powerful brake on legislation we
need to transition to a sustainable society. By naming this industry's
singularly destructive influence, we're working to break the hold the fossil
fuel industry has on our economy and our governments.

HOW DO I KNOW IF MY 401(K) IS INVESTED IN FOSSIL FUELS, AND WHAT CAN I DO ABOUT
IT?

Review your 401(k) investment options and their holdings to identify any
investments in the energy sector, which is primarily composed of fossil fuel
companies. One great resource for seeing what a mutual fund is invested in is
https://fossilfreefunds.org/. You can ask your HR for better options - sign up
here if you want help learning how.

WHY SHOULD I CARE WHERE MY 401(K) IS INVESTED?

How you invest your 401(k) has a bigger impact on the climate crisis than every
other action you take in your life combined. That means you can buy an electric
car, put solar panels on your car, stop eating beef, and never fly again, and
you still will not reduce your footprint as much as if you stop investing in
fossil fuel companies.

WHO HAS STOPPED INVESTING IN FOSSIL FUEL COMPANIES?

Institutions that have stopped investing in fossil fuel companies include
universities like Harvard and the University of California; pension fund giants
such as PME and CDPQ; entire governments, including Ireland, Maine, and the city
of San Diego; individuals from the Pope to the Rockefeller descendants; and
financial institutions like the Ford and MacArthur Foundations.

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1. Internal calculations ascribing prorata emissions of each holding on a dollar
weighted basis utilizing Green House Gas emissions (Scope 1, 2 & 3 emissions -
place based) data collected from Bloomberg Terminal under data license.

The Virtual March for Fossil Freedom is a fiscally sponsored project by the
Crane Institute, a 501(c)3 organization.
© 2023 Virtual March for Fossil Freedom. All rights reserved.
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