Tell TIAA to Divest from Fossil Fuels and #StopLandGrabs

Retirement giant TIAA (Teacher Insurance Annuity Association) manages $1.3 trillion in assets and is one of the largest owners of farmland and timberland on the planet. Its clients are mostly universities and non-profits. It brands itself as a socially responsible company.

And yet, TIAA is still investing billions of dollars in oil, coal and fracked gas. It also manages substantial investments in large-scale, high-emission agriculture and timber plantations to be burned for “bioenergy.”. The company has been linked to land grabbers in Brazil, and its land acquisitions in the US have accelerated the corporate control over farmland, threatening family farms, and extracting land from Black farmers, communities of color and Indigenous Peoples.

TIAA says they will “offset” their emissions with unproven promises like “Nature-Based” carbon sequestration, which have no record of significantly reducing emissions, and often rely on systematic deforestation and industrial agriculture.

Over 100 organizations recently expressed their alarm about TIAA’s misleading climate plans in a letter to the new CEO.

TIAA must reach zero emissions, not “Net Zero.” This is a smokescreen that allows TIAA and others to go on polluting as much as ever.

Will you tell the company to live up to its claims to social responsibility?

We demand that TIAA

1. Enact an immediate moratorium on all new direct investments in fossil fuels;

2. Divest from all current fossil-fuel investments by 2025;

3. Divest from the Cricket Valley fracked gas power plant;

4. Enact an immediate moratorium on all new investments in farmland, timberland, and industrial agriculture production;

5. Work with a panel of independent scientific and human rights experts and community stakeholders to assess and report on TIAA’s climate and social impacts; and

6. Commit to full transparency.

(You can read the full text of the sign-on letter that TIAA-Divest!, along with 113 organizations worldwide delivered to TIAA's CEO Thasunda Brown Duckett at https://tiaa-divest.org/wp-content/uploads/2021/09/TIAA-Net-Zero-2050-sign-on-letter-1.pdf)
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