The Thrift Savings Plan has$35.7Bin fossil fuel stocks
The Federal Thrift Savings Plan (TSP) manages over $725 billion in retirement savings for 6 million federal employees. It's putting those savings into coal, oil, and gas companies that are driving the climate crisis.
If the TSP continues to ignore climate change, plan participants could face financial losses from stranded assets and other climate-related financial risks.
26% of TSP fossil fuel investments are in 10 oil & gas majors
|$USD invested||% of fossil fuel investments|
$35.7B in Thrift Savings Plan fossil fuel investments by industry. "Other" includes coal mining and conglomerates with carbon reserves and/or fossil fuel operations.
$19B in oil & gas companies
Top 10 oil & gas industry investments in Thrift Savings Plan funds
$8.8B in fossil-fired utilities
Top 10 fossil-fired utility investments in Thrift Savings Plan funds
What can the TSP do?
The TSP is required to by law to track certain indices. But there are steps the plan could take to safeguard workers' savings.
AUDIT: Perform and publish a rigorous audit of the TSP's exposure to climate-related financial risk.
ENGAGE: Engage TSP fund managers like BlackRock and State Street Global Advisors on climate risk-related proxy voting policies. Engage TSP index providers like S&P Global and MSCI to take climate risk into account in index management.
EDUCATE: Ensure employees are aware of the risk that climate change poses to their retirement savings.