TIAA/Nuveen needs to be investigated for its fossil fuel investments

fossil fuels pollution spewing from smoke stacks

On October 19, 2022, nearly 300 Teachers Insurance and Annuity Association (TIAA) account holders filed a complaint against the financial services giant and its wholly-owned subsidiary Nuveen through the United Nations-sponsored Principles for Responsible Investment (PRI).

The complaint alleges that TIAA’s substantial investments in fossil fuels and deforestation violate the company’s climate pledges and commitment to the PRI Principles and constitute serious violation of the PRI initiative. It was drafted with the assistance of TIAA-Divest! and the Center for International Environmental Law (CIEL).

Send a letter of support to PRI today and ask that the PRI, as the body responsible for safeguarding high ESG standards, give this complaint its fullest consideration. The reputation of the PRI, as well as all investors claiming that to have a “responsible” strategy, are at stake.

Send your message today to help divest TIAA from fossil fuels

Send your letter now

First Name

Last Name

Email Address

Country

Zip or Postal Code

Mobile Number

I want to receive action alerts and campaign updates from Stand.earth (untick to unsubscribe from all communications)

PERSONALIZE YOUR MESSAGE

Your letter is more effective when it's been personalized by you. The most impactful letters include details about your life and why you care personally about TIAA's fossil fuel investments.

Mr.

David

Atkin

UN PRI

Governance

PRI

UN PRI

Dear Mr. Skancke and Mr. Atkin,

I am writing in support of the complaint filed against Nuveen by over 300 academics, educators, scientists and writers to investigate TIAA/Nuveen’s alleged greenwashing.

With at least $78 billion invested in fossil fuel industries, TIAA/Nuveen is underwriting the most destructive companies on the planet, threatening the lives and livelihoods of billions of people. Its investments in new coal mines and oil and gas exploration directly contravenes the scientific consensus that warns that we cannot continue to extract fossil fuels nor perpetuate deforestation and keep planetary temperatures habitable.

I have read Nuveen’s response, that “broad divestment from fossil fuels does not offer TIAA an optimal way to influence the policies and practices of issuers we invest in, nor is it the best means to produce long-term value for our investors'' and “simply selling fossil-fuel-generating investments to other companies won’t reduce carbon output.” These excuses are unacceptable and another form of denial and delay that has led us to this global crisis. TIAA and Nuveen have not produced a single example of how its engagement with portfolio companies will actually reduce greenhouse emissions. They are both well aware that selling off its fossil fuel assets will send a strong signal to the market that it's time to exit a dying (and killing) sector.

I ask that the PRI, as the body responsible for safeguarding high ESG standards, give this complaint its fullest consideration. The reputation of the PRI, as well as all investors claiming that to have a “responsible” strategy, are at stake.

As a concerned individual, I join my voice to the chorus of those saying that we don’t want our retirement savings used to wreck our futures and those of our children. We want our savings invested responsibly.

With hope and resolve, 
{user_data~First Name} {user_data~Last Name}

I confirm I have reviewed this message and approve it

CLICK HERE TO SEND YOUR MESSAGE