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Meet the Dominican nuns who created their own climate solutions fund

It’s been five years since Pope Francis’ “Laudato Si,” the celebrated 225-page encyclical in which the pope called for environmental justice and fundamental social change in the face of global warming. To mark the occasion earlier this month, the Vatican urged Catholics around the world to take practical steps to fulfill this mission — including by divesting from fossil fuel-based industries. And in the U.S., 16 congregations of Dominican nuns (named for their patron saint, Saint Dominic) debuted a collaboration with Morgan Stanley to create a $130 million “climate solutions fund.”

In a press release, the bank called the fund a “first of its kind collaboration … to find investment solutions which focus on climate change and aiding marginalized communities that are disproportionately impacted by global warming.” Examples of the fund’s “holistic” approach to climate solutions could include “early stage investments in energy efficiency software” as well as “more mature opportunities like fruit producers with water-saving hydroponic irrigation systems.”

Sister Patricia Daly, a Dominican nun from a congregation in Caldwell, New Jersey, helped create the fund. The nuns began organizing the fund in 2018 after they pooled $46 million. Daly said the sisters have long wanted to invest in companies and technology that are actively working toward the United Nations sustainable development goals, which include ending poverty, improving access to clean energy, curbing climate change, and more. When they couldn’t find a fund with that focus — most sustainable investment funds do not holistically address all of those goals, according to Daly — the congregations enlisted Morgan Stanley to create a new fund themselves and set a standard for future investing.

“This fund is engaged in impact investing rather than screening,” said Angelo Collins, a member of the leadership council for the Sinsinawa Dominican Sisters in Wisconsin. “The fund advisors and managers are looking to support and provide investments in corporations that are doing positive good.”

Collins said that many Dominican congregations in the U.S. consider social justice a central tenet of practicing their faith, and that the fund will bring social justice to the forefront of the church’s investing efforts.

Daly said she hopes that their efforts attract investors of all kinds, rather than just faith-based organizations.

“We wanted this not just for ourselves but for other investors — not just faith communities,” she told Grist. “There are also healthcare systems and other private investors who have joined in this initiative.”

In its press release, Morgan Stanley emphasized that the fund will invest in ventures that are proactively pursuing sustainable and equitable climate goals.

“Every dollar invested in our climate program will seek to have a concrete climate impact measurement ranging from tonnes of CO2 emission offset and litres of water saved, to reduction in air pollution levels, in addition to generating compelling private markets returns,” said Vikram Raju, the investment group’s head of impact investing.

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Meet the Dominican nuns who created their own climate solutions fund

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Exxon Mobil’s shareholders meeting was totally overrun by climate demands

Exxon Mobil’s shareholders meeting was totally overrun by climate demands

By on May 25, 2016Share

It’s impossible for fossil fuel executives to get some damn peace and quiet. At its annual shareholder meeting in Dallas, Texas, Exxon Mobil faced investors’ demands that the company get serious about climate change adaptation and regulation.

Since 1997, Exxon Mobil has fended off similar demands from its shareholders, but not at this scale. Wednesday’s meeting included the largest coalition of climate-activist investors yet of two-dozen large shareholders representing $8 trillion under management. But eight of the nine climate shareholder resolutions still failed.

The one proposal that passed, at 62 percent of the vote, allows shareholders who hold 3 percent or more of the company’s shares for more than three years to nominate up to a quarter of the board’s directors every year. In theory, this could allow for a climate activist to become a director at the company.

One climate resolution that failed suggested a company report on how climate policies would impact its business. It was the second-most popular resolution, yet earned just 38 percent of the vote.

Other proposals included calls for more transparency on Exxon’s hydraulic fracturing activities, lobbying, diversity and makeup of the board, and its plans to adapt to a renewable energy economy.

The shareholder resolutions came from the New York City’s comptroller’s office, religious groups, and investing firms demanding the company prepare for a future of climate change regulations.

Father Michael Crosby, a Franciscan priest from Milwaukee, presented a proposal asking for a climate expert to be put on the company’s board. “Not one person has any expertise on climate,” he said of the board. “Exxon Mobil has a chance to restore the public’s trust, it’s a time for conversion.”

Sister Patricia Daly, a Dominican nun from Caldwell, N.J., presented a resolution asking Exxon to adopt a policy acknowledging the 2 degrees Celsius target. “Our company has chosen to disregard the consensus in the scientific community,” she said. “As the world moves forward, Exxon Mobil stands still.”

“Many of the world’s largest investors are voting against the [Exxon] management today,” said Edward Mason, head of responsible investing for the Church of England.

The board recommended to deny all proposals presented.

“For many years now, ExxonMobil has held the view that the risks of climate change are serious, and do warrant thoughtful action,” said Exxon CEO and chair Rex Tillerson during the shareholder’s call Wednesday morning. But asked to cut the company’s ties with groups promoting climate denial, such as the American Legislative Exchange Council (ALEC), Tillerson declined.

All the while, the company insisted it’s serious about climate change, touting its three-decade commitment to climate research in a slide shown below. Tillerson left some things unsaid: While the company internally recognized manmade climate change as real, it advocated for skepticism publicly.

Oil giants have faced growing pressure to acknowledge climate change — both Royal Dutch Shell and BP passed similar resolutions last year. Chevron also voted on shareholder demands on climate on Wednesday.

Though Exxon remains firm, it will see continued pressure from activists and worried investors. Outside the meeting in Dallas, climate activists swarmed, demanding that the company change its ways.

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Exxon Mobil’s shareholders meeting was totally overrun by climate demands

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Hillary Clinton and Henry Kissinger: It’s Personal. Very Personal.

Mother Jones

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At Thursday night’s Democratic presidential debate, one of the most heated exchanges concerned an unlikely topic: Henry Kissinger. During a stretch focused on foreign policy, Bernie Sanders, the senator from Vermont, jabbed at former secretary of state Hillary Clinton for having cited Kissinger, who was Richard Nixon’s secretary of state, as a fan of her stint at Foggy Bottom.

“I happen to believe that Henry Kissinger was one of the most destructive secretaries of state in the modern history of this country,” Sanders huffed, adding, “I will not take advice from Henry Kissinger.” He referred to the secret bombing of Cambodia during the Vietnam war as a Kissinger-orchestrated move that eventually led to genocide in that country. “So count me in as somebody who will not be listening to Henry Kissinger,” Sanders roared. Clinton defended her association with Kissinger by replying, “I listen to a wide variety of voices that have expertise in various areas.” She cast her interactions with Kissinger as motivated by her desire to obtain any information that might be useful to craft policy. “People we may disagree with on a number of things may have some insight, may have some relationships that are important for the president to understand in order to best protect the United States,” she said.

What Clinton did not mention was that her bond with Kissinger was personal as well as professional, for she and her husband have for years regularly spent their winter holidays with Kissinger and his wife Nancy at the beachfront villa of fashion designer Oscar de la Renta, who died in 2014, and his wife Annette in the Dominican Republic.

This campaign tussle over Kissinger began a week earlier, at a previous debate, when Clinton, looking to boost her résumé, said, “I was very flattered when Henry Kissinger said I ran the State Department better than anybody had run it in a long time. So I have an idea about what it’s going to take to make our government work more efficiently.” A few days later, Bill Clinton, while campaigning for his wife in New Hampshire, told a crowd of her supporters, “Henry Kissinger, of all people, said she ran the State Department better and got more out of the personnel at the State Department than any secretary of state in decades, and it’s true.” His audience of Democrats clapped loudly in response.

It was odd that the Clintons, locked in a fierce fight to win Democratic votes, would name-check a fellow who for decades has been criticized—and even derided as a war criminal—by liberals. Bill and Hillary Clinton themselves opposed the Vietnam War that Nixon and Kissinger inherited and continued. Hillary Clinton was a staffer on the House Judiciary Committee that voted to impeach Nixon, and one of the articles of impeachment drafted by the staff (but which was not approved) cited Nixon for covering up his secret bombing of Cambodia. In the years since then, information has emerged showing that Kissinger’s underhanded and covert diplomacy led to brutal massacres around the globe, including in Chile, Argentina, East Timor, and Bangladesh.

With all this history, it was curious that in 2014, Clinton wrote a fawning review of Kissinger’s latest book and observed, “America, he reminds us, succeeds by standing up for our values, not shirking them, and leads by engaging peoples and societies, the sources of legitimacy, not governments alone.” In that article, she called Kissinger, who had been a practitioner of a bloody foreign-policy realpolitik, “surprisingly idealistic.”

This Clinton love-fest with Kissinger is not new. And it is not simply a product of professional courtesy or solidarity among former secretaries of state, who comprise, after all, a small club. There is also a strong social connection between the Clintons and the Kissingers. They pal around together. On June 3, 2013, Hillary Clinton presented an award to de la Renta, a good friend who for years had provided her dresses and fashion advice, and then the two of them hopped over to a 90th birthday party for Kissinger. In fact, the schedule of the award ceremony had been shifted to allow Clinton and de la Renta to make it to the Kissinger bash. (Secretary of State John Kerry also attended the party.) The Kissingers and the de la Rentas were longtime buddies. Kissinger wrote one of his recent books while staying at de la Rentas’ mansion in the Dominican Republic and dedicated the book to the fashion designer and his wife.

The Clintons and Kissingers appear to spend a chunk of their quality time together at that de la Renta estate in the Punta Cana resort. Last year, the Associated Press noted that this is where the Clintons take their annual Christmas holiday. And other press reports in the United States and Dominican Republic have pointed out that the Kissingers are often part of the gang the de la Rentas have hosted each year. When Oscar de la Renta died in 2014, the New York Times obituary reported:

At holidays, the de la Rentas filled their house in Punta Cana with relatives and friends, notably Bill and Hillary Clinton, Nancy and Henry Kissinger, and the art historian John Richardson. The family dogs had the run of the compound, and Mr. de la Renta often sang spontaneously after dinner. First-time visitors, seeking him out in the late afternoon, were surprised to find him in the staff quarters, hellbent on winning at dominoes.

In 2012, the Wall Street Journal, in a profile of de la Renta, wrote:

Over Christmas the Kissingers were among the close group who gathered in Punta Cana, including Barbara Walters, Bill and Hillary Clinton, and Charlie Rose. “We have two house rules,” says Oscar, laughing. “There can be no conversation of any substance and nothing nice about anyone.”

A travel industry outlet reported that Vogue editor Anna Wintour was part of the crew that year. The Times described the house this way: “Though imposing in the Colonial style, with wide verandas (and its own chapel on the grounds), it also had a relaxed feeling.” Last April, the Weekly Standard noted that the Clintons had spent a week around the previous New Year’s at Punta Canta and that Secret Service protection for the trip had cost $104,000. It was during this vacation that Hillary Clinton reportedly decided to run for president for the second time.

This Clinton-Kissinger-de la Renta gathering seems to occur most years. In 2011, de la Renta, a native of the Dominican Republic, told Vogue that he built this seaside estate so he could host his close friends, and he cited the Kissingers and Clintons as examples. “At Christmas,” he said, “we’re always in the same group.”

The Clinton campaign did not respond to a request for comment. Neither did Henry Kissinger nor Annette de la Renta.

When awarding herself the Kissinger seal of approval to bolster her standing as a competent diplomat and government official, Hillary Clinton has not referred to the annual hobnobbing at the de la Renta villa. So when Sanders criticized Clinton for playing the Kissinger card—”not my kind of guy,” he declared—whether he realized it or not, he was hitting very close to home.

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Hillary Clinton and Henry Kissinger: It’s Personal. Very Personal.

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Rising Tide Is a Mystery That Sinks Island Hopes

Lago Enriquillo in the Dominican Republic, the largest lake in the Caribbean, has been rising and rising, devouring tens of thousands of acres of farmland, ranches and whatever else stands in its way. Source –  Rising Tide Is a Mystery That Sinks Island Hopes ; ;Related ArticlesAppeals Court Upholds BP Oil Spill SettlementDefying Japan, Rancher Saves Fukushima’s Radioactive CowsThe Wait Continues for Safe Tap Water in West Virginia ;

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Rising Tide Is a Mystery That Sinks Island Hopes

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Rum promoter won’t be allowed to hold shark-killing tournament

Rum promoter won’t be allowed to hold shark-killing tournament

A tame shark in the Dominican Republic.

From the Associated Press:

A popular rum promoter is drawing the ire of environmentalists for his plan to hold a shark-hunting tournament in the Dominican Republic similar to one he organized after the release of the movie “Jaws.” …

The newspaper Listin Diario recently quoted [promoter Newton] Rodriguez as saying that the country’s tourism industry suffered and people grew afraid of sharks after the blockbuster hit “Jaws” was released in 1975, leading him to organize a shark hunt a year later.

Well, idiot, first of all they already killed that shark in Jaws (via explosion) so you don’t need to worry about that. Second, a number of shark species are already endangered. Third, some 73 million sharks a year are slaughtered, many to fuel the sketchy trade in shark fins as phony medicinal treatment.

The Dominican Republic’s natural resources minister has happily kiboshed Rodriguez’s plan, though I’m not entirely certain that, in his wisdom, he’d even bother to apply for a permit.

As a public service, we figured we’d let you know the name of the rum Rodriguez promotes. It is: Barcelo. You’ll want to avoid it, given that aficionados clearly run the risk of damage to both the heart and the brain.

Source

Activists slam Dominican shark hunting tournament, Associated Press

Philip Bump writes about the news for Gristmill. He also uses Twitter a whole lot.

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Rum promoter won’t be allowed to hold shark-killing tournament

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