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Letter Commends JPMorgan Chase for Breaking Ties with Private Prison Industry

April 18, 2019, New York, New York – The Adrian Dominican Congregation is among 105 members of the Interfaith Center on Corporate Responsibility (ICCR) to sign a letter to Jamie Dimon, CEO of JPMorgan Chase, commending the corporation for no longer financing private prisons and immigrant detention centers. JPMorgan Chase’s decision came after an October 17, 2017, letter expressing the concern of the faith-based investors over the company’s relationship with the private detention industry, along with several dialogues between the corporation and the ICCR. 

In the October 2017 letter, the ICCR members “cited risks associated with private detention centers, such as inmate deaths, poor medical care, allegations of physical and sexual abuse of detainees, and violence,” according to the April 8, 2019, letter commending JPMorgan Chase for the move. “We have appreciated the company’s responsiveness and attentions to the issues we raised in our conversations” and “commend JPMorgan Chase for making the decision to stop financing the private prison industry.”

The Adrian Dominican Congregation, through its Portfolio Advisory Board (PAB), has worked for more than 40 years with the ICCR in its mission to foster corporate responsibility among the corporations in which the Congregation invests. In addition, through its Community Investments arm, the PAB offers low-interest loans to “community-based enterprises that demonstrate a commitment to social justice through alternative economic endeavors.”

 

Photo by izhar khan from Pexels


Corporate Responsibility Efforts Pay Off for Gun Safety and Environment

September 28, 2018, Adrian, Michigan – Corporate responsibility efforts by and Adrian Dominican Sister and the Congregation’s Portfolio Advisory Board are paying off when it comes to gun safety accountability and creating a cleaner environment.

Sister Judy Byron, OP, led shareholders of American Outdoor Brands in passing a resolution calling on the parent company of Smith and Wesson to report on how they are working to ensure gun safety. Sister Judy, Director of the Northwest Coalition for Responsible Investing and Consultant for the Adrian Dominican Sisters’ Portfolio Advisory Board, made the presentation on behalf of 11 shareholders groups. The passage of the resolution – and of a similar resolution at Sturm Ruger – reflect the public’s growing concern about gun violence. 

For more information, read an article by Liz Moyer, posted on CNBC, and a press release issued by the Interfaith Center for Corporate Responsibility.

Another article, posted on the website of NBC News, gives a more in-depth look at the corporate responsibility efforts for gun safety, as well as a profile of Sister Judy and her involvement in social justice.

In another instance of success in corporate responsibility efforts, Standard Chartered, a multi-national bank and financial institution based in London, England, agreed to stop financing coal-fired power plants anywhere in the world. The Adrian Dominican Congregation was one of about 25 signatories to an August 20, 2018, letter to the corporation, asking them to stop financing new coal mines and coal-fired power plants anywhere in the world. “When the bank shared the policy with us, they explicitly stated that our work on this has helped inform their decision,” wrote Sonia Hierzig, Senior Projects Manager of Climate Change for Share Action, in London, England. Read the announcement and an article on the topic in Bloomberg.


 

 

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