MALVERN, PA — Activists and community members gathered Wednesday at Vanguard’s headquarters to deliver a petition signed by more than 30,000 people urging the company to stop financing petrochemical projects, organizers said.
Representatives from Louisiana, Washington, D.C., and Chester, Pennsylvania, joined about 60 students, faith leaders, and former customers at the site, where they attempted to present the letter to Vanguard officials, according to organizers.
Organizers said Vanguard representatives declined to accept the petition.
The action is part of an ongoing campaign calling on the asset manager to reduce or eliminate investments tied to petrochemical production, which involves materials derived from oil and gas and used in products such as plastics and fertilizers.
According to research released by Friends of the Earth, Vanguard has approximately $182 billion invested in companies linked to petrochemical expansion projects in the United States.
The report states that those projects are associated with 34 planned developments expected to generate an estimated 98 million metric tons of carbon dioxide emissions annually.
Activists said many of the projects are located near residential communities and schools, raising concerns about pollution and public health.
“Many of the petrochemical projects proposed for my state of Louisiana are within a small radius, several miles of each other, in populated areas, including near schools,” said Jack Green, a campaigner with Rise St. James.
Dr. Nolan L. Fontaine of Chester Residents Concerned for Quality Living said the issue affects multiple communities. “We are all fighting for equality, air quality, and quality living,” he said.
Groups participating in the event included American Friends Service Committee, Chester Residents Concerned for Quality Living, Earth Quaker Action Team, and Rise St. James.
Organizers said the campaign is also urging Vanguard to offer fossil fuel-free investment options and adjust pricing on sustainable investment products.
A Vanguard has not yet provided a statement regarding the petition.
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