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As Tehran runs low on water, New York City considers divesting from planet-wrecker Blackrock. We need more of the latter to prevent more of the former.
We are not getting out of the climate crisis without immense amounts of damage—the only question at this point is whether we can extricate ourselves with something like our civilizations intact. And the news from one cradle of civilization isn’t heartening: In Iran, where urban settlements date back to 4400 BC, the deepest drought in the country’s recorded history has now reached the havoc stage.
Tehran, shrouded in truly toxic smoke because the country’s power plants have run short of natural gas and begun burning “mazut, a dark residue of petroleum high in sulphur and other impurities,” is now facing a possible evacuation because it has run out of water. As Yeaganeh Torbati points out in an excellent essay, Iran’s water woes are deeply rooted in agricultural policy that prioritized irrigation above all (see also California); its international isolation has not helped it cope (including with the tragic fires that broke out last week in the Hyrcanian Forest, one of the oldest woodlands on Earth and a biodiversity hotspot). But the savage drought has been the final domino here, in a country where, as the head of one water utility points out, “Higher than normal heat has intensified the evaporation of water resources.” As the Australia Broadcasting Corporation summarized it:
Faced with a perfect storm of weather woes and decades of mismanagement, President Masoud Pezeshkian issued a warning to his country earlier this month that the situation could deteriorate even further.
“We’ve run short of water. If it doesn’t rain, we in Tehran… must start rationing,” he said.
“Even if we do ration and it still does not rain, then we will have no water at all."
“They [citizens] must evacuate Tehran.”
While it may seem like an exaggeration, it is the shocking reality facing the Iranian population—particularly in its capital, which has in excess of 15 million people across the broader metropolitan area.
This particular kind of disaster is becoming more common on a rapidly warming world. We’ve already had severe Day Zero scares in big cities in Brazil and South Africa; a new study earlier this month warns that:
Moments when water levels in reservoirs fall so low that water may no longer reach homes—could become common as early as this decade and the 2030s.
To find out where and when DZDs are most likely to occur, scientists at the Center for Climate Physics in Busan, South Korea ran a series of large-scale climate simulations. They considered the imbalance between decreasing natural supply (such as years of below-average rainfall and depleted river flows).
By some estimates, 2 billion humans are at risk.
The residents of New York are not at present among them. The city’s water supply system is one of the miracles of the modern world, and after six decades the “third tunnel” that will make that water system more secure is almost complete. (As a cub reporter in the early 1980s I spent several happy days underground, watching "sandhogs" from Local 147 blowing up rock walls to extend the shaft).
But that doesn’t mean New York is immune from climate danger, as anyone who lived there during Hurricane Sandy will recall. (As the financial journal Business Week printed in block letters on its cover the week after that catastrophe, “IT’S GLOBAL WARMING STUPID”).
And it certainly doesn’t mean that New York isn’t part of the cause of the global climate collapse. Not from its emissions—subway-riding New Yorkers are fairly green—but from the churn of capital through its financial markets that underwrites the ongoing expansion of the fossil fuel enterprise, in ways that scientists have said for years now simply has to stop.
A huge step in the right direction came Wednesday morning, when the city’s comptroller, Brad Lander, announced that he was recommending the city stop investing its money with Blackrock, the largest single representative of irresponsible capitalism on planet Earth.
Lander is urging three of the city’s pension funds to drop BlackRock Inc. because of “inadequate” climate plans, the latest move to penalize investment firms for failing to tackle global warming.
The guidance to reject BlackRock, the city’s largest money manager overseeing $42.3 billion of index funds for the pensions, follows a review of the firm’s efforts to press companies to decarbonize. Lander said Wednesday he’s also asking plan trustees to terminate much smaller mandates with Fidelity Investments and PanAgora Asset Management.
It’s hard to overstate the importance of this decision. To call Blackrock a “giant” is to pitifully underestimate its size—it has $13.46 trillion under management as of this fall. It owns 10% of the world’s stock market. If it wanted to stop the expansion of the fossil fuel industry, it could, more easily than any other single entity on planet Earth.
Instead it has dithered endlessly, making occasional noises of climate concern and then backtracking when red state treasurers (with far smaller portfolios than Lander’s to wave around) squawked at them. In August, Democratic officials from a dozen states sent warning letters to asset managers, calling on them to “reject pressure from the Trump administration and GOP lawmakers, and instead commit to thorough evaluations of risks tied to global warming, supply chains, and corporate governance.” Lander’s recommendation is the first concrete outcome.
Or, fairly concrete. Lander’s term ends on December 31. The advocates who have pressed for this policy—especially New York Communities for Change—are pushing him to get one of the city’s three pension plans—the New York City Employees Retirement System or NYCERS—to actually commit to the plan at its December 17 meeting. They think that with some prodding by Lander the votes are there to make the change.
If anyone has the political credibility to get it done before Christmas, that would be Brad Lander. Though he finished third in the primary, he emerged from this year’s mayoral contest with more love than any player in the city, maybe even including Zohran Mamdani. Partly that was because stood up for immigrants early, getting arrested by an Immigration and Customs Enforcement thug. Mostly it was because he figured out he was going to lose to Mamdani, took it with exceptionally good grace, and ended up playing the important role of his being his verifier—assuring people with both his insider and his Jewish credentials that the young socialist was up to the job. He comes out of 2025 both a macher and a mensch, and now he’s rumored to be planning a run for Congress; assuming he ties up some of the loose ends here, he will take on any future race with the fervent support of the environmental community, for whom he has delivered big-time. (And with the fervent opposition of Wall Street, which is proving to be a useful credential in itself).
In a larger sense, I’ve been reading accounts for months now of how climate is dead as a political issue. I think this move makes clear that isn’t true; in fact, I’d wager that as energy affordability takes center stage in next year’s midterms, the transition off fossil fuels will be a key issue for progressives to seize.
They will need to do so quickly. As events in Tehran make clear, time is now moving fast. The physics of global warming are implacable: Run out of water and you have to move your city. We’ll have to make politicians move fast to have any hope of getting ahead of the curve.
IAEA head Rafael Grossi implored "all parties to exercise maximum restraint to avoid further escalation."
The head of the United Nations nuclear watchdog cautioned Monday that Israel's bombing of Iran's primary uranium enrichment facility raises the risk of radiological and chemical contamination, a warning that came amid condemnation of such strikes and mounting civilian casualties on both sides of the widening war.
Addressing an emergency session of the International Atomic Energy Agency's Board of Governors in Vienna, IAEA Director General Rafael Grossi said that "military escalation threatens lives, increases the chance of a radiological release with serious consequences for people and the environment, and delays indispensable work towards a diplomatic solution for the long-term assurance that Iran does not acquire a nuclear weapon."
"Last week the board adopted an important resolution on Iran's safeguards obligations," Grossi continued. "The resolution, while containing important proliferation-related provisions, also stressed support for a diplomatic solution to the problems posed by the Iranian nuclear program. Member states of the IAEA have a crucial, active role to play in supporting the urgent move away from military escalation towards diplomacy."
"Consistent with the objectives of the IAEA and its statute, I call on all parties to exercise maximum restraint to avoid further escalation," he added.
Based on info available to the IAEA, this is the current situation at the Iranian nuclear sites in Natanz, Fordow, Khondab, Bushehr, and Esfahan. pic.twitter.com/gTvJrYzPFW
— IAEA - International Atomic Energy Agency ⚛️ (@iaeaorg) June 16, 2025
The IAEA affirmed that Israeli strikes have damaged above-ground areas of the uranium enrichment facility at Natanz and another nuclear site in Isfahan. Grossi said earlier that four buildings in Isfahan had been damaged by Israeli strikes on Friday, but noted Monday that there were no apparent signs of damage to another enrichment plant at Fordow, which is deep underground.
Experts say it would likely take intervention by the United States—which has more powerful bunker-busting bombs than Israel—to destroy the Fordow site. U.S. President Donald Trump said Sunday that "it's possible" that American forces could enter the fight, while the apparent deployment of what The Times of Israel on Monday called an "unprecedented" number of U.S. Air Force aerial refueling planes fueled speculation of deeper American involvement in the war.
Grossi's warning came amid widening Israeli bombing of Iran and retaliatory Iranian strikes against Israel. Iran's Ministry of Health said Monday that 224 people—90% of them civilians—have been killed and over 1,400 others wounded by Israeli attacks. Iranian media reported serious damage to a hospital in the western city of Kermanshah following Israeli bombing.
Last week, Israel began bombing Iranian government, military, and nuclear sites and assassinating numerous Iranian nuclear scientists. Some of these attacks have also killed targeted scientists' relatives, neighbors, and other civilians. The far-right government of Israeli Prime Minister Benjamin Netanyahu says Israel is attacking Iran in order to prevent the country from developing nuclear weapons. However, critics note that U.S. intelligence agencies concur that Iran is not trying to develop nukes.
As is the case with Gaza—where Israel is waging a war for which Netanyahu is wanted by the International Criminal Court for alleged crimes against humanity and war crimes—numerous observers accuse the Israeli leader of creating a distraction from his ongoing criminal corruption trial in his own country.
On Monday, Iranian Foreign Ministry spokesperson Esmaeil Baghaei said that Iran's legislative body, the Majlis, was drafting a bill that would withdraw the country from the landmark 1968 Treaty on the Nonproliferation of Nuclear Weapons.
Meanwhile, at least 23 Israeli civilians including women and children and Palestinian citizens of Israel have been killed by Iranian missile and drone strikes that have been condemned as indiscriminate. Hundreds more Israelis have been wounded. Responding to these attacks, Israeli Defense Minister Israel Katz—who is accused of supporting genocidal policies in Gaza—said over the weekend that Iran's capital "will burn" if Iranian forces did not stop responding to Israel's bombing.
"The residents of Tehran will pay the price, and soon," he vowed.
Despite U.S. intelligence once again finding Iran is not currently developing nukes, the president is trying to force Tehran into a nuclear deal after unilaterally abrogating an existing one in 2018.
Iran's military has reportedly readied ballistic missiles for possible launch against U.S. bases in the Middle East after President Donald Trump renewed his threat to wage war on the country if it does not reach an agreement with his administration regarding nuclear weapons—which American intelligence agencies have repeatedly found Tehran is not building.
Trump discussed Iran during a Sunday phone call with NBC News' Kristen Welker, telling her that "if they don't make a deal, there will be bombing, and it will be bombing the likes of which they have never seen before," adding that there is also "a chance that if they don't make a deal, that I will do secondary tariffs on them like I did four years ago."
Ayatollah Seyyed Ali Khamenei, the supreme leader of Iran's theocratic government, warned Monday that "if any hostile act is committed from outside, though the likelihood is not high, it will undoubtedly be met with a strong counterstrike."
Esmaeil Baghaei, a spokesperson for Iran's Foreign Ministry, said on social media Monday that "an open threat of bombing by a head of state against Iran is a shocking affront to the very essence of international peace and security."
"It violates the United Nations Charter and betrays the safeguards under the [International Atomic Energy Agency]," Baghaei added. "Violence breeds violence, peace begets peace. The U.S. can choose the course."
Iranian Gen. Amir Ali Hajizadeh, commander of the Islamic Revolutionary Guard Corps' (IRGC) Aerospace Division, noted Monday that "the Americans have 10 bases in the region, particularly around Iran, and 50,000 troops based in there."
"This means they are sitting in a glass house; and when one sits in a glass house, one does not throw stones at others," he added.
The Tehran Times reported Monday that Iran's military has "readied missiles with the capability to strike U.S.-related positions" and that "a significant number of these launch-ready missiles are located in underground facilities scattered across the country, designed to withstand airstrikes."
The U.S., meanwhile, is amassing firepower including B-2 Stealth Bombers at its base on the forcibly depopulated island of Diego Garcia in the Indian Ocean for possible use in strikes against Iran.
Trump today: If Iran does not agree to a deal “There will be bombing and it will be bombing the likes of which they have never seen before” Can he go 1 day without threatening a new war? How many would he like? - Greenland - Panama - Gaza - Mexico - Yemen - Somalia - Gaza - Venezuela Is 8 enough?
— Secular Talk (@kylekulinskishow.bsky.social) March 30, 2025 at 8:36 PM
Trump's threat to attack Iran—which hasn't started a war since the mid-19th century—comes despite U.S. Director of National Intelligence Tulsi Gabbardtestifying before the Senate Select Committee on Intelligence last week that "Iran is not building a nuclear weapon and Supreme Leader Khamanei has not authorized the nuclear weapons program he suspended in 2003."
U.S. intelligence agencies have repeatedly come to the same conclusion since the George W. Bush administration.
However, Gabbard added that "Iran's enriched uranium stockpile is at its highest levels and is unprecedented for a state without nuclear weapons."
That's at least partly due to the unilateral U.S. withdrawal from the landmark Joint Comprehensive Plan of Action (JCPOA)—also known as the Iran nuclear deal—in 2018 during Trump's first administration.
Since Trump abandoned the JCPOA—which was signed in 2015 during the Obama administration by China, France, Germany, Iran, Russia, the United Kingdom, and the United States—Tehran has been operating advanced centrifuges and rapidly stockpiling enriched uranium.
While there were hopes of a renewed deal during the tenure of former U.S. President Joe Biden, no agreement was reached, and Iranians continue to suffer under economic sanctions that critics have said are killing people and crippling the country's economy.
Earlier this month, Trump sent a letter to Khamenei in which he claims to have said, "I hope you're going to negotiate because if we have to go in militarily, it's going to be a terrible thing."
On Sunday, Iranian President Masoud Pezeshkian left open the possibility of indirect talks but said that the U.S. could not be trusted to keep its word.
"We don't avoid talks; it's the breach of promises that has caused issues for us so far," Pezeshkian said during a televised Cabinet meeting. "They must prove that they can build trust."
This isn't the first time that Trump has threatened Iran. In 2020, during his first term, the president vowed to strike 52 sites across Iran "very fast and very hard" if it retaliated for the U.S. assassination of IRGC commander Gen. Qasem Soleimani in Iraq. Later that year, Trump had another message for Iran: "If you fuck around with us, if you do something bad to us, we are going to do things to you that have never been done before."
On the campaign trail last September, Trump told Iranians he would "blow your largest cities and the country itself to smithereens" if he was reelected and Iran didn't cease what he perceives as threats against the United States.
While the U.S. has never directly attacked Iran, it did help overthrow the country's reformist government in 1953 and supported a repressive monarchy for decades leading up to the Islamic Revolution of 1979. The U.S. backed Iraq during that country's eight-year war against Iran, during which then-Iraqi President Saddam Hussein's forces used chemical weapons against Iranian troops and his own restive Kurdish population. In 1988, a U.S. warship in Iranian waters accidentally shot down Iran Air Flight 655, killing all 290 passengers and crew aboard. Then-President Ronald Reagan blamed the incident on the "barbaric Iranians."
The U.S. has also
supported the People's Mujahedin of Iran (MEK), a State Department-designated terrorist group that had previously assassinated six American officials, and successive U.S. administrations have used international financial institutions to punish Iran, like in 2007 when Bush pressured the World Bank into suspending emergency relief aid after the 2003 Bam earthquake, which killed more than 26,000 Iranians.