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Midwestern Productivity at Risk from Unchecked Climate Change January 23rd, 2015
A newly released report by Risky Business finds that unchecked climate change will threaten Midwestern agricultural and industrial productivity. If you live in the Midwest, have family there, or simply eat any of the many agricultural products grown in the region, you will want to read the executive summary, if not the full version, of this report: http://riskybusiness.org/reports/midwest-report/executive-summary. The full report is available also at this link. The report emphasizes that it is still possible to take action to avoid the worst impacts.
Launched in October, 2013, the Risky Business Project focuses on quantifying and publicizing the economic risks from the impacts of a changing climate. It is backed by former NYC Mayor Michael Bloomberg, former US Treasury Secretary and Goldman Sachs executive, Hank Paulson, and Tom Steyer, a wealthy an American hedge fund manager, philanthropist, and environmentalist. They tasked the Rhodium Group, an economic research firm that specializes in analyzing disruptive global trends, with preparing an independent assessment of the economic risks posed by a changing climate in the U.S.
Mexican Migrant Children Forgotten at the Border January 22nd, 2015
Border Patrol and Mexican Authorities Fail to Screen and Protect Mexican Migrant Children
Last year, the issue of Central American children fleeing violence made headlines in the United States. But unlike unaccompanied minors from Guatemala, El Salvador, and Honduras, Mexican children fleeing violence rarely get an opportunity to tell their story before an immigration judge. The Washington Office on Latin America (WOLA) has released an investigative video and report on the treatment of unaccompanied Mexican migrant children detained at the U.S.-Mexico border.
Every year, U.S. Border Patrol apprehends approximately 15,000 unaccompanied Mexican children. According to a 2014 report by the United Nations Refugee Agency, nearly 60 percent of unaccompanied Mexican minors surveyed mentioned violence as one reason for leaving home. But in 2013, less than 5 percent were transferred to the U.S. Office of Refugee Resettlement to be screened and later granted an immigration hearing.
Through interviews with migrant children, Border Patrol officials, Mexican authorities, and experts, WOLA’s video “Forgotten at the Border” demonstrates the plight of Mexican children who migrate to the United States in an attempt to escape violence. Unless these children can prove to a Border Patrol agent that they face a credible risk of persecution or trafficking, they are sent right back home.
WOLA’s video highlights the stories of minors like Esteban, a 17-year-old who describes fleeing from a local cartel, crossing the Arizona border, and being deported by Border Patrol. The video is accompanied by an investigative report, as well as recommendations for the U.S. and Mexican governments to better protect and screen unaccompanied Mexican children.
Report: Forgotten on La Frontera: Mexican Children Fleeing Violence Are Rarely Heard
Recommendations: How the U.S. and Mexican Governments Can Better Protect Unaccompanied Mexican Children Fleeing Violence
Interested in following WOLA on social media? You can find them on Twitter @WOLA_org or link to their Facebook page.
Sri Lanka Votes for End to Nepotism and Corruption January 12th, 2015
In a surprising electoral upset, Sri Lankans voted in Opposition Presidential candidate Maithripala Sirisena, a former Health minister. Mahinda Rajapaksa, the man responsible for the crushing defeat of the Tamil Tigers, conceded defeat on Friday. The Tamil and Muslim voting appears to have decided the outcome of the election, as the Sinhalese vote was split.
A new Administration holds out the possibility for some change, although how much remains to be seen. The new President was acting Defense Minister at the end of the civil war in June 2009, and like Rajapaksa, rejects the UN investigation into war crimes allegations, and has pledged that senior commanders accused of such war crimes will not face legal action. He also reportedly has no plans to reduce the large military presence in northern (Tamil) Sri Lanka.
On the other hand, the issue of corruption will be addressed (the Rajapaksa family was in many positions of authority at the national and local levels of government, and controlled both the Defense Ministry and the Development Ministry.). The increasing consolidation of power in the Presidency will also be reversed. President Sirisena pledged, during the campaign, to abolish the executive presidency within 100 days of being elected, repeal the controversial 18th amendment, re-instate the 17th amendment and appoint UNP leader Ranil Wickremasinghe as prime minister. The constitutional changes will be important. Already, the new President has called for Parliamentary elections to be held in three months.
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J.P. Morgan Chase Issues How we do Business Report in Response to Faith-based Shareholders December 19th, 2014
Members of the Interfaith Center on Corporate Responsibility welcomed today’s release of JP Morgan Chase’s (JPMC) How we do Business Report. The report was, in large part, issued in response to shareholder pressure as a result of the billions of dollars in fines and penalties the company has faced over the past several years.
The report was largely brought about by shareholders pressing for structural changes as a result of the multiple ethical lapses which resulted in billions of dollars in fines and penalties.
Rev. Séamus Finn, of the Missionary Oblates of Mary Immaculate and Board Chair of ICCR, said, “We welcome the report and look forward to the opportunity to review it in greater detail. The report appropriately acknowledges the lapses in ethical conduct that resulted in significant damage to the company’s reputation and details steps taken to reduce the possibility of such lapses in the future. That their actions have broader, societal repercussions beyond the scope of the company seems also to have been recognized. We are hopeful that management sees the value in this type of self-examination as a bridge to begin to restore trust and confidence between Main Street and Wall Street.”
Read the ICCR press release on the JP Morgan Chase report
Faith-Based Investors Get Better Governance at JP Morgan Chase December 17th, 2014
Fr. Seamus Finn, OMI and Sr. Barbara Aires, SC (Sisters of Charity of St. Elizabeth) at J.P. Morgan Chase where they have successfully engaged the bank on risk and governance issues.
The prestigious journal, American Banker, has reported on the success earned by faith-based groups, including the Missionary Oblates, in forcing J.P. Morgan Chase to improve its governance and increase transparency. An article published today reports that before the end of the year, “JPMorgan Chase will release a 100-page report in which it will provide a full accounting of recent legal settlements and matters under investigation and detail, among other things, clawback policies for executives whose business units engage in “unethical” activity. The New York bank will also describe in the report new structures for board accountability and oversight.”
The article adds that “The Interfaith Center on Corporate Responsibility [ICCR] says the report will go a long way toward restoring the bank’s credibility with shareholders following a string of legal skirmishes, including a $13 billion settlement with U.S regulators over the packaging and sale of shoddy mortgages, a $1 billion fine for manipulating the foreign exchange market, and a $920 million fine it paid to authorities for its failure to spot risky trades. As a condition of the report’s release, the faith-based group has agreed to back off from its campaign to split the chairman and CEO jobs.”
The Rev. Seamus Finn, OMI, ICCR Board Chair, was quoted as saying,”We asked [J.P. Morgan Chase] to address all of the issues under which their reputation had been tarnished since the financial crisis, and I think they’ve done a good job.” He added that “It doesn’t mean there won’t be another ‘London whale’ or foreign-exchange trading scandal. But they are putting in place some strong restrictions to make sure these things don’t happen again.”
Learn more about ICCR’s work with J.P. Morgan Chase
