Bloomberg Law
Oct. 19, 2022, 3:53 PM

Pension Fund TIAA Faces Scientist-Led Climate-Washing Complaint

Clara Hudson
Clara Hudson

Scientists and professors filed a complaint on Wednesday against pension fund TIAA, arguing that its investments in fossil fuels violates its climate pledges, but the fund says broad divestment isn’t the way forward.

Nearly 300 clients of the giant fund, including environmental activist Bill McKibben and Ruth Wilson Gilmore, a professor at The City University of New York, filed their complaint with the UN-sponsored Principles for Responsible Investment initiative.

The complaint alleges that the fund, formally known as Teachers Insurance and Annuity Association of America-College Retirement Equities Fund, violates its fiduciary duty by refusing to consider fossil fuel divestment. Burning ...