Big Tech Employees Missed Out on $5 Billion in Returns Due to 401(k) Fossil Fuel Investments, New Report Finds

Today, researchers at the University of Waterloo (Canada), in partnership with As You Sow, released a new report finding more than 2 million employees from 12 tech-sector companies could have earned an estimated $5.1 billion in additional returns had their companies moved to decarbonize their retirement plan holdings 10 years ago. The report analyzed the 401(k) plans of the Big Five tech companies – Amazon, Apple, Google, Meta, and Microsoft – and seven additional tech companies: Adobe, Broadcom, Intuit, Netflix, Oracle, Qualcomm, and SAP America.

Invest Your ValuesAs You SowApril 29, 2024Big Tech, 401k, Fossil fuels