October, 06 2022, 12:03pm EDT
For Immediate Release
Contact:
Ginny Cleaveland, Deputy Press Secretary, Fossil-Free Finance, Sierra Club, ginny.cleaveland@sierraclub.
Local Climate Advocates Respond to Louisiana Treasurer's Move to Cut Ties With Blackrock
Sierra Club, Healthy Gulf, Louisiana Bucket Brigade call the political move a slap in the face to environmental justice communities
WASHINGTON
Today the Louisiana state treasurer announced plans to cut ties with major asset manager BlackRock and withdraw nearly $800 million in state money from the firm due to its stated sustainability policies. The move puts Louisiana in a similar position to other Republican-led states, including Texas and West Virginia, who cut off some business with the asset management firm over its position on environmental, social, and governance (ESG) issues.
Despite some movement by BlackRock to promote sustainable investing, the world's largest asset manager remains a major investor in fossil fuels, even weakening its support for climate-related proposals this shareholder season.
In response to the news, the Sierra Club's Delta Chapter and climate advocates representing frontline community groups in Louisiana issued the following statements:
"Companies like BlackRock incorporate climate and social risk factors into their investment decisions because it makes good business sense -- and because it is the right thing to do. Louisiana is being run by cowards who put their fear before families. Our state treasurer is simply following the lead of other Republican states in veering us off the necessary path to a just transition. This is a slap in the face to environmental justice communities and the frontline leaders fighting for clean air and clean water across this state," said Roishetta Ozane, Southwest Louisiana Organizing Director with Healthy Gulf.
"What a sad state of affairs it is to consider loving your neighbor as being woke. The political backlash over BlackRock including the community and environmental impacts in its investment decisions demonstrate just how deep the polluter industry's hooks are -- and who these politicians really work for. ESG won't destroy Louisiana's economy; politicians delaying economic diversification and the rising seas will," said James Hiatt, Southwest Louisiana Coordinator for the Louisiana Bucket Brigade.
"This move by Louisiana's state treasurer to stop doing business with a financial institution over its sustainable investment policies is just the latest flavor of climate denial cooked up by right-wing politicians and their fossil fuel industry donors. It's part of a broader attempt to prevent free-market businesses like BlackRock from addressing urgent climate-related financial risks that are affecting our state, preventing us from adapting the way Louisianians have done for centuries" said Jessi Parfait, Campaign Representative in the Sierra Club's Beyond Dirty Fuels campaign. "In reality, financial firms like BlackRock continue to be major financiers of fossil fuels, and aren't doing nearly enough to address the destructive impacts of their investments. At the end of the day, when states cut off financial firms to score political points, the real impact is felt by the taxpayers and residents who have to bear the costs of these theatrics."
A study revealed that a similar move in Texas preventing the state from doing business with certain banks that had reduced their business with gun manufacturers ended up costing taxpayers hundreds of millions of dollars in just its first year of implementation.
The Sierra Club is the most enduring and influential grassroots environmental organization in the United States. We amplify the power of our 3.8 million members and supporters to defend everyone's right to a healthy world.
(415) 977-5500LATEST NEWS
Dems Urge Biden to Limit Presidential Authority to Launch Nuclear War Before Trump Takes Charge
"As Donald Trump prepares to return to the Oval Office, it is more important than ever to take the power to start a nuclear war out of the hands of a single individual and ensure that Congress's constitutional role is respected and fulfilled," wrote Sen. Edward Markey and Rep. Ted Lieu.
Dec 12, 2024
Two Democratic lawmakers sent a letter to outgoing U.S. President Joe Biden Thursday, urging him to place more checks on potential nuclear weapons use by mandating that a president must obtain authorization from Congress before initiating a nuclear first strike.
The letter writers, Sen. Edward Markey (D-Mass.) and Rep. Ted Lieu (D-Calif.), argue that "such a policy would provide clear directives for the military to follow: A president could order a nuclear launch only if (1) Congress had approved the decision, providing a constitutional check on executive power or (2) the United States had already been attacked with a nuclear weapon. This would be infinitely safer than our current doctrine."
The two write that time is of the essence: "As Donald Trump prepares to return to the Oval Office, it is more important than ever to take the power to start a nuclear war out of the hands of a single individual and ensure that Congress's constitutional role is respected and fulfilled."
The Constitution vests Congress, not the president, with the power to declare war (though presidents have used military force without getting the OK from Congress on multiple occasions in modern history, according to the National Constitution Center).
During the Cold War, when nuclear weapons policy was produced, speed was seen as essential to deterrence, according to Jon Wolfsthal, the director of global risk at the Federation of American Scientists, who wrote an op-ed for The Washington Post last year that makes a similar argument to Markey and Lieu.
"There is no reason today to rely on speedy decision-making during situations in which the United States might launch first. Even as relations with Moscow are at historic lows, we are worlds removed from the Cold War's dominant knife's-edge logic," he wrote.
While nuclear tensions today may not be quite as high as they were during the apex of the Cold War, fears of nuclear confrontation have been heightened due to poor relations between the United States and Russia over the ongoing war in Ukraine, among other issues. Last month, Russian President Vladimir Putin signed a decree lowering the threshold for potential nuclear weapons use not long after the U.S. greenlit Ukraine's use of U.S.-supplied long range weapons in its fight against Russia.
This is not the first time Markey and Lieu have pushed for greater guardrails on nuclear first-use. The two are the authors of the Restricting First Use of Nuclear Weapons Act, a proposed bill first introduced in 2017 that would bar a U.S. president from launching a nuclear first strike without the consent of Congress.
"We first introduced this act during the Obama administration not as a partisan effort, but to make the larger point that current U.S. policy, which gives the president sole authority to launch nuclear weapons without any input from Congress, is dangerous," they wrote.
In their letter, Markey and Lieu also recount an episode from the first Trump presidency when, shortly after the January 6 insurrection, Chairman of the Joint Chiefs of Staff General Mark Milley ordered his staff to come to him if they received a nuclear strike order from Trump.
But Milley's ability to intervene was limited, according to Lieu and Markey, because his role is advisory and "the president can unilaterally make a launch decision and implement it directly without informing senior leaders." They argue this episode is a sign that the rules themselves must change.
Keep ReadingShow Less
Amnesty Urges War Crimes Probe of 'Indiscriminate' Israeli Attacks on Lebanon
"The latest evidence of unlawful airstrikes during Israel's most recent offensive in Lebanon underscores the urgent need for all states, especially the United States, to suspend arms transfers," said one campaigner.
Dec 12, 2024
Amnesty International on Thursday called for a war crimes investigation into recent Israeli airstrikes in Lebanon that killed dozens of civilians, as well as a suspension of arms transfers to Israel as it attacks Gaza, the West Bank, and Syria.
In a briefing paper titled The Sky Rained Missiles, Amnesty "documented four illustrative cases in which unlawful Israeli strikes killed at least 49 civilians" in Lebanon in September and October amid an Israel Defense Forces (IDF) campaign of invasion and bombardment that Lebanese officials say has killed or wounded more than 20,000 people.
"Amnesty International found that Israeli forces unlawfully struck residential buildings in the village of al-Ain in northern Bekaa on September 29, the village of Aitou in northern Lebanon on October 14, and in Baalbeck city on October 21," the rights group said. "Israeli forces also unlawfully attacked the municipal headquarters in Nabatieh in southern Lebanon on October 16."
Erika Guevara Rosas, Amnesty's senior director for research, advocacy, policy, and campaigns, said in a statement that "these four attacks are emblematic of Israel's shocking disregard for civilian lives in Lebanon and their willingness to flout international law."
The September 29 attack "destroyed the house of the Syrian al-Shaar family, killing all nine members of the family who were sleeping inside," the report states.
"This is a civilian house, there is no military target in it whatsoever," village mukhtar, or leader, Youssef Jaafar told Amnesty. "It is full of kids. This family is well-known in town."
On October 16, Israel bombed the Nabatieh municipal complex, killing Mayor Ahmad Khalil and 10 other people.
"The airstrike took place without warning, just as the municipality's crisis unit was meeting to coordinate deliveries of aid, including food, water, and medicine, to residents and internally displaced people who had fled bombardment in other parts of southern Lebanon," Amnesty said, adding that there was no apparent military target in the immediate area.
In the deadliest single strike detailed in the Amnesty report, IDF bombardment believed to be targeting a suspected Hezbollah member killed 23 civilians forcibly displaced from southern Lebanon in Aitou on October 14.
"The youngest casualty was Aline, a 5-month-old baby who was flung from the house into a pickup truck nearby and was found by rescue workers the day after the strike," Amnesty said.
Survivor Jinane Hijazi told Amnesty: "I've lost everything; my entire family, my parents, my siblings, my daughter. I wish I had died that day too."
As the report notes:
A fragment of the munition found at the site of the attack was analyzed by an Amnesty International weapons expert and based upon its size, shape, and the scalloped edges of the heavy metal casing, identified as most likely a MK-80 series aerial bomb, which would mean it was at least a 500-pound bomb. The United States is the primary supplier of these types of munitions to Israel.
"The means and method of this attack on a house full of civilians likely would make this an indiscriminate attack and it also may have been disproportionate given the presence of a large number of civilians at the time of the strike," Amnesty stressed. "It should be investigated as a war crime."
The October 21 strike destroyed a building housing 13 members of the Othman family, killing two women and four children and wounding seven others.
"My son woke me up; he was thirsty and wanted to drink. I gave him water and he went back to sleep, hugging his brother," survivor Fatima Drai—who lost her two sons Hassan, 5, and Hussein, 3, in the attack—told Amnesty.
"When he hugged his brother, I smiled and thought, I'll tell his father how our son is when he comes back," she added. "I went to pray, and then everything around me exploded. A gas canister exploded, burning my feet, and within seconds, it consumed my kids' room."
Guevara Rosas said: "These attacks must be investigated as war crimes. The Lebanese government must urgently call for a special session at the U.N. Human Rights Council to establish an independent investigative mechanism into the alleged violations and crimes committed by all parties in this conflict. It must also grant the International Criminal Court jurisdiction over Rome Statute crimes committed on Lebanese territory."
"Israel has an appalling track record of carrying out unlawful airstrikes in Gaza and past wars in Lebanon taking a devastating toll on civilians."
Last month, the court issued arrest warrants for Israeli Prime Minister Benjamin Netanyahu and former Israeli Defense Minister Yoav Gallant for alleged war crimes and crimes against humanity in connection with Israel's 433-day Gaza onslaught, which has left more than 162,000 Palestinians dead, maimed, or missing in the embattled enclave.
The tribunal also issued a warrant for the arrest of Hamas leader Mohammed Diab Ibrahim Al-Masri for alleged crimes committed during and after the October 7, 2023 attack on Israel, in which more than 1,100 people were killed and over 240 others were kidnapped.
Meanwhile, the International Court of Justice is weighing a genocide case brought by South Africa against Israel. Last week, Amnesty published a report accusing Israel of genocide in Gaza.
The United States—which provides Israel with tens of billions of dollars in military aid and diplomatic cover—has also been accused of complicity in Israeli war crimes in Palestine and Lebanon.
"Israel has an appalling track record of carrying out unlawful airstrikes in Gaza and past wars in Lebanon taking a devastating toll on civilians," Guevara Rosas said. "The latest evidence of unlawful air strikes during Israel's most recent offensive in Lebanon underscores the urgent need for all states, especially the United States, to suspend arms transfers to Israel due to the risk they will be used to commit serious violations of international humanitarian law."
Keep ReadingShow Less
Congressional Report Calls Trump Deportation Plan 'Catastrophic' for Economy
"All it will do is raise grocery prices, destroy jobs, and shrink the economy," JEC Chair Martin Heinrich said of the president-elect's plan to deport millions of immigrants.
Dec 12, 2024
Echoing recent warnings from economists, business leaders, news reporting, and immigrant rights groups, Democrats on the congressional Joint Economic Committee detailed Thursday how President-elect Donald Trump's planned mass deportations "would deliver a catastrophic blow to the U.S. economy."
"Though the U.S. immigration system remains broken, immigrants are crucial to growing the labor force and supporting economic output," states the new report from JEC Democrats. "Immigrants have helped expand the labor supply, pay nearly $580 billion a year in taxes, possess a spending power of $1.6 trillion a year, and just last year contributed close to $50 billion each in personal income and consumer spending."
There are an estimated 11.7 million undocumented immigrants in the United States, and Trump—who is set to be sworn in next month—has even suggested he would deport children who are American citizens with their parents who are not and attempt to end birthright citizenship.
Citing recent research by the American Immigration Council and the Peterson Institute for International Economics, the JEC report warns that depending on how many immigrants are forced out of the country, Trump's deportations could:
- Reduce real gross domestic product (GDP) by as much as 7.4% by 2028;
- Reduce the supply of workers for key industries, including by up to 225,000 workers in agriculture and 1.5 million workers in construction;
- Push prices up to 9.1% higher by 2028; and
- Cost 44,000 U.S.-born workers their jobs for every half a million immigrants who are removed from the labor force.
Highlighting how mass deportations would harm not only undocumented immigrants but also U.S. citizens, the report explains that construction worker losses would "make housing even harder to build, raising its cost," and "reduce the supply of farmworkers who keep Americans fed as well as the supply of home health aides at a time when more Americans are aging and requiring assistance."
In addition to reducing home care labor, Trump's deportation plan would specifically harm seniors by reducing money for key government benefits that only serve U.S. citizens. The report references estimates that it "would cut $23 billion in funds for Social Security and $6 billion from Medicare each year because these workers would no longer pay into these programs."
Sen. Martin Heinrich (D-N.M.), who chairs the JEC, said Thursday that "as a son of an immigrant, I know how hard immigrants work, how much they believe in this country, and how much they're willing to give back. They are the backbone of our economy and the driving force behind our nation's growth and prosperity."
"Trump's plan to deport millions of immigrants does absolutely nothing to address the core problems driving our broken immigration system," Heinrich stressed. "Instead, all it will do is raise grocery prices, destroy jobs, and shrink the economy. His immigration policy is reckless and would cause irreparable harm to our economy."
Along with laying out the economic toll of Trump's promised deportations, the JEC report makes the case that "providing a pathway to citizenship is good economics. Immigrants are helping meet labor demand while also demonstrating that more legal pathways to working in the United States are needed to meet this demand."
"Additionally, research shows that expanding legal immigration pathways can reduce irregular border crossings, leading to more secure and regulated borders," the publication says. "This approach is vital for managing increased migration to the United States, especially as more people flee their home countries due to the continued risk of violence, persecution, economic conditions, natural disasters, and climate change."
The JEC report followed a Senate Judiciary Committee hearing on Tuesday that explored how mass deportations would not only devastate the U.S. economy but also harm the armed forces and tear apart American families.
In a statement, Vanessa Cárdenas, executive director of the advocacy group America's Voice, thanked Senate Judiciary Committee Chair Dick Durbin (D-Ill.) "for calling this important discussion together and shining a spotlight on the potential damage."
Cárdenas pointed out that her group has spent months warning about how Trump's plan would "cripple communities and spike inflation," plus cause "tremendous human suffering as American citizens are ripped from their families, as parents are separated from their children, or as American citizens are deported by their own government."
"Trump and his allies have said it will be 'bloody,' that 'nobody is off the table,' and that 'you have to send them all back,'" she noted, arguing that the Republican plan will "set us back on both border control and public safety."
Cárdenas concluded that "America needs a serious immigration reform proposal—with pathways to legal status and controlled and orderly legal immigration—which recognize[s] immigrants are essential for America's future."
Keep ReadingShow Less
Most Popular