News Archives » Faith Responsible Investing
Faith Based Community Organizers host Public Gathering on Foreclosure Crisis in Virginia October 6th, 2011
On October 30th VOICE (Virginians Organized for Interfaith Community Engagement) member institutions will hold a public gathering with more than 1,000 people to celebrate progress on their recent campaigns, especially their work to address the foreclosure crisis in Prince William County, Manassas, & Manassas Park. The Oblates have supported VOICE’s work on foreclosures by having given the organization access to company meetings and connecting them with other faith-based shareholder activists.
The upcoming action will be an opportunity to celebrate successes (in Prince William County and across Northern Virginia) and to announce next steps to address local reinvestment needs.
Senator Mark Warner (D-VA) and senior bank executives will be in attendance.
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Oblates Celebrate ICCR’s 40th Anniversary! September 29th, 2011
The group representing the Oblates at the ICCR 40th Anniversary event held in New York on September 22, 2011 from left to right are: Anne Van Dyke; Andrew Small, OMI; George Ngolwe; Seamus Finn, OMI; Christina Herman; Mary O'Herron; Daniel LeBlanc, OMI.
The Interfaith Center on Corporate Responsibility celebrates its 40th Anniversary this year. The Oblate JPIC staff, which is deeply engaged in the work of faith-based shareholder advocacy, joined in the celebration which followed a week of strategizing on issues as diverse as human trafficking, immigration, mining, responsible finance, water and access to medicines.
“Values in Finance: Are we ready to learn the lessons?” September 27th, 2011
In a talk given at Trinity College, Dublin on the 15th Anniversary of Clann Credo – The Social Investment Fund, Fr. Seamus Finn, OMI talked about the need for the faith community to engage with business on questions of ethics and to work for more sustainable practices and institutions. He made three main points:
- Faith communities and traditions need to re-engage in the discussion of purpose and operations of the financial systems and their priorities.
- The damage that has been done to the people and the environment for the sake of fat profits and in the name of “progress’ has been tremendous and needs to ne examined.
- Religious communities, institutions and believers have always been willing to dream, innovate and risk new initiatives for the promotion of the common good.
Fr. Finn is active in faith responsible investing through the Interfaith Center on Corporate Responsibility where he serves on the Board, and in 3iG, an international, interfaith coalition of institutional investors.
ICCR and IAF Community Organizers Join Forces Against Foreclosures September 16th, 2011
Interfaith Center on Corporate responsibility (ICCR) members, including the Missionary Oblates, have been working with Metro Industrial Areas Foundation affiliates to get Bank of America & Wells Fargo to take action on foreclosure issues in Prince William County, VA and Milwaukee, WI. This collaboration has produced results:
- In Milwaukee, CommonGround, Metro IAF’s affiliate has organized successfully, forcing banks including Wells Fargo and Bank of America to commit $15.2 million to finance blight removal, a 100+ new Nehemiah homes development, and jobs in the Sherman Park neighborhood hard hit by foreclosure.
- In Prince William County, VA, Metro IAF’s affiliate, VOICE, organized and directly confronted Bank of America CEO Brian Moynihan at the 2011 annual shareholders meeting. This resulted in Bank of America senior leadership requiring reform of loan modification practices that has resulted in 250 backlogged modifications being resolved. Bank executives also committed to negotiate on VOICE’s demands that Bank of America fund housing counselors and reinvest hundreds of millions of dollars to rebuild Prince William County neighborhoods devastated by foreclosures.
VOICE is organizing a 1,000 person public action on Sunday, October 30th with Senator Mark Warner (Senate Banking Committee) and bank officials.
Watch this moving video of an anti-foreclosure rally organized by VOICE in Northern Virginia last April:
U.S. Grassroots Effort to Ban Fracking Ramps Up September 14th, 2011
Environmental Justice and Health Groups Solicit the UN to Recognize Fracking as a Human Rights Issue; Over 5,000 Calls Made to the White House from Citizens Concerned About Fracking
Contamination from fracking in many areas sets water faucets on fire. Source: The film, "Gasland"
Concern about the impacts of hydrofracking for natural gas on the integrity of water supplies in affected areas has been strong for some time. Last year, the New York City Council voting unanimously to block fracking in the New York City watershed. Faith-based investors have been raising concerns at the corporate level about the pollution of local water supplies by this method now commonly used in natural gas drilling. But there has not been a national outcry at the grassroots level – until now.
Yesterday, over 5,000 Americans from all 50 states flooded White House phone lines yesterday to tell President Obama to ban the polluting, dangerous practice. Spearheaded by the national consumer advocacy group Food & Water Watch, United for Action, and Center for Health, Environment and Justice, nearly 50 organizations across the country and individuals in every state called on Obama to ban fracking.
“President Obama has got an energy problem on his hands,” says Wenonah Hauter, Executive Director of Food & Water Watch. “Citizens, many of whom helped to get him elected, are becoming increasingly worried about fracking and other dirty energy schemes the administration is assessing, like the Keystone XL pipeline. Our water resources should not be sacrificed for energy, and he’s hearing this in no uncertain terms from people all over the country.”
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