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    fossil fuel finance

    Shareholder Resolutions Push Big Banks to Phase Out Fossil Fuel Financing

    "Any climate commitment from a bank that is still financing fossil fuel expansion is greenwashing, pure and simple," said a Stop the Money Pipeline campaigner.

    Brett Wilkins
    Jan 24, 2023

    Taking aim at Wall Street banks financing the oil, gas, and coal extraction fueling the climate crisis, a coalition of institutional investors on Tuesday announced the filing of climate-related shareholder resolutions in an effort to force "more climate-friendly policies that better align with" the firms' public commitments to combating the planetary emergency.

    In the resolutions, members of the Interfaith Center on Corporate Responsibility (ICCR) and Harrington Investments asked six banks—Bank of America, Goldman Sachs, JPMorgan Chase, Morgan Stanley, Citigroup, and Wells Fargo—to enact policies phasing out fossil fuel finance, disclose plans for aligning their financing with their stated near-term emissions reduction goals, and to set absolute end-of-decade emissions reduction targets for their energy sector financing.

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    Traders work on the floor of the New York Stock Exchange

    'Wall Street Loves Layoffs': Rich Investors Demand More Carnage as Tech Slashes Jobs

    One pro-worker coalition called Amazon's recent job cuts "sacrificial symbols for Wall Street."

    Jake Johnson
    Jan 24, 2023

    Amazon, Microsoft, Google, and other major tech companies have moved in recent days to lay off tens of thousands of employees, slashing jobs across the board amid mounting fears of a Fed-induced recession.

    But the sweeping job cuts—more than 18,000 at Amazon, 10,000 at Microsoft, and 12,000 at Google—were apparently not enough to satisfy ultra-rich investors, some of whom have taken large stakes in tech companies with the intention of forcing layoffs and other cost-cutting as a way of boosting profits.

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    People rally for affordable housing in Columbus, Ohio on June 30, 2021.

    We Need Housing for People to Live In, Not for Corporations to Invest In

    Unhoused people on our sidewalks, in shelters, in motels, in tents: this is our present and our future if we don't see some real, urgent action to legally protect the vulnerable and house us all.

    Nancy Braus
    Jan 22, 2023

    Anyone who is active in our communities knows that housing insecurity and homelessness are rising fast, due in part to an ever-shrinking lot of affordable rentals and homes. Housing should be the rallying cry right now.

    There are a number of structural reasons for this housing crisis, and the most truly terrifying fact is that while housing becomes less and less affordable, there is no plan to make homes more available. At this time, we have far-right bomb throwers running one branch of government whose wish is to make those who live on SSI or Social Security even more unstable than they currently are. Every day we see these corporate shills threatening to cut or even eliminate entitlements that millions rely on for survival. And it seems that workforce housing is rapidly disappearing.

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