Investor Advocates for Social Justice

IASJ Tells Banks: Stop Funding Environmental Racism

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April 22, 2024

A safe, healthy, and just environment is the foundation for enjoying all human rights. As part of IASJ’s Climate + Dignity campaign, we are committed to engaging with banks to address human rights impacts associated with their financing activities. 

Challenging Banks on Climate Justice

Though US banks have made public commitments to tackle the climate crisis and related human rights impacts, many continue to finance projects and clients that put our communities and environment at risk. This year, IASJ is increasing pressure on US banks. IASJ Affiliates filed shareholder proposals with CitigroupJPMorgan Chase, and Wells Fargo asking them to report on the effectiveness of their policies at respecting Indigenous Rights. These proposals are going to a vote over the next month, and IASJ urges all investors to support them. 

Sr. Susan Francois is Keeping the Pressure On

This morning, Sr. Susan Francois, an esteemed IASJ Affiliate and board member representing the Sisters of St. Joseph of Peace, is speaking at “The People Vs. Citi: Confronting Citi Group’s Environmental Racism”, event in New York City. The gathering aims to spotlight Citi’s complicity in funding human rights violations. Sr. Susan is joined by Indigenous leaders, environmental justice activists, and communities directly impacted by Citi’s financing. Those interested can tune into the live stream of the event starting at 10:00 am EST here

No More Financing For Environmental Racism

Joining Sr. Susan this morning is Miss Sharon Lavigne, an environmental justice activist from Cancer Alley. Through her organization, Rise St. James, Miss Sharon has mobilized her community to fight against petrochemical expansion in her predominantly Black neighborhood. Formosa Plastics, a Taiwanese petrochemical company, seeks to build a facility in St. James Parish, a community already burdened with a dozen petrochemical plants that put the residents at some of the highest risk for cancer in the country. Alongside Rise St. James, IASJ spearheaded an investor letter representing billions of dollars in assets under management, urging banks to cut ties with Formosa Plastics. 

Join IASJ in keeping the pressure on US banks. View our shareholder proposals here: