Introduction: We are parents, grandparents, guardians and concerned stakeholders of the Massachusetts 529 college savings program. Our responsibility to safeguard our children's future comes with formidable challenges, including the escalating cost of college education and the urgent need to curb greenhouse gas emissions.
Issue: The current investment options available through the U.Fund MA 529 college savings plans put our aspirations for both educational prosperity and a future livable planet at odds. All the equity-based investment portfolios provided in the U.Fund 529 plan contain significant fossil fuel industry holdings. Even the option marketed as environmentally sustainable contains fossil fuel company stocks 1. As a consequence, in order to invest in MA 529 plan we must invest, potentially inadvertantly, in the very companies driving the destruction of our planet.
Request: Please tell Fidelity, your chosen manager of Massachusetts's 529 plans, to give us the choice to invest in our children's education without supporting the companies jeopardizing their future. Specifically, we urge you to require Fidelity to:
We deeply appreciate the work you and all the MEFA employees do every day for our children. We hope you consider our request for investment products that support our children's educational goals and the future of our planet.