"Employers want to keep their employees happy and 401(k) advisers want to keep companies-which are their customers-happy," said Alex Wright-Gladstein. This statement emphasizes the power employees can wield in influencing their retirement fund options. Gathering collective interest could pressure employers to include more sustainable investment options in 401(k) plans.
Try FossilFreeFunds.org's tool called Invest Your Values, which allows you to plug in the name of a fund and see what percentage of its investments are in fossil fuels, deforestation contributors, gun manufacturers, and the like. This resource empowers employees to make informed decisions about their investments based on their values.
You can share your findings with like-minded coworkers who are also worried about the climate crisis. Perhaps you can get together to jointly ask your employer to add sustainable or climate-friendly funds to their 401(k) offering or even change the offerings altogether. Collective action is encouraged to push employers towards greener investment options.
Sphere offers a tool, Atmosphere, that lets you look up more than 100 companies and see what the average 401(k) participant at that company is investing in fossil fuels. This insight is crucial for employees to recognize the extent of fossil fuel investments in their retirement funds.
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