Vanguard takes a baby step on climate change — finally

The $7 trillion silent member of the Big Three tags coal as a concern years behind other investors. Vanguard, the global asset manager that has flown stealthily under the sustainability radar for years, has finally made a public statement about climate change — kind of. The announcement about changes to its coal investment policy was made in a bulletin on the website of the Harvard Law School Forum on Corporate Governance — not exactly a major media platform.  The carefully worded statement acknowledged that exposure to climate risk caused “concerns”…