It suddenly became clear. Not only was the livestock industry threatened by a deteriorating environment, but i, my children, my students, my fellow citizens, and my entire country would pay the price. The connection between the symptoms of environmental degradation and their causes — deforestation, devegetation, unsustainable agriculture and soil loss — were self-evident. Something had to be done. We could not just deal with the manifestations of the problems. We had to get to the root causes of those problems.Wangari Maathai
How will our city be impacted by the proposed upwind petrochemical plants? Can we afford to accept Allegheny County’s rank in the top 1% of cancer rates ? What can we do to prevent the proposed plants? What can we … Continue reading
What fossil fuel divestment could mean for city’s pension fund
Written for the Pittsburgh Business Times, June19, 2017,
After the US left the Paris Accords, Pittsburgh committed to reaching numerous climate goals — including divesting the municipal pension fund of fossil fuels by 2030.
When it comes to his duties as the City of Pittsburgh’s finance director and head of the city’s pension fund, Paul Leger knows he has a “legal and fiduciary responsibility to gain the highest return on the fund possible.”
But if an order comes down from elected officials to make a change — say divest the city’s pension fund from fossil fuels — he’ll have to find a way to balance that command with his legal duty to protect the city’s investments.
After President Donald Trump decided to put Pittsburgh on the political map with an alliterative announcement against the Paris Agreement — an international treaty meant to push back on climate change — on June 1, Mayor Bill Peduto laid out the groundwork for a green decree.
“President Trump’s decision is disastrous for our planet, for cities such as Pittsburgh, to the commitments the United States made to the rest of the world, and to our responsibility to save the globe for future generations,” Peduto said in a statement that evening.
The next day, Peduto confirmed the city’s commitment to the Paris Agreement and its 2030 climate objective — including a commitment to divest its pension fund of “fossil-based companies.”
The executive order simply reiterated the city’s eco-friendly aspirations and had no real effect on Leger’s duty yet. For the divestment to be a priority for Leger, both City Council and the Comprehensive Municipal Pension Trust Fund board have to agree to the change.
Personally, Leger sees divestment as “good public policy.” And as “Pittsburgh tends to be a leader” in green technology and innovation, he sees no reason to stall.
“It’s just a good thing to do, and if you’re going to do it, why wait until 2030?” Leger said.
By Leger’s estimate, about 5 percent of the $415 million invested in mutual funds is invested in fossil fuels.
But even taking that 5 percent out could be harmful to the fund as a whole, according to a recently released study by Compass Lexecon, a Chicago-based economic consulting group.
Co-author Chris Fiore, vice president of Compass Lexecon, said the study found in every situation that divestment hurt pension funds. Compass Lexecon took 11 separate municipal retirement funds and compared results from the past 50 years of their portfolios with and without fossil fuels.
The study was sponsored by the Independent Petroleum Association of America, which Fiore said did not influence the outcome.
Instead, according to Fiore, the result mostly comes down to risk. Because energy stocks tend to move the least with the economy as a whole, they are more risk resistant than other industry’s stocks that move with the economy.
“If you want the highest amount of returns, you actually can’t earn the same returns as you can with disinvestment as you can without divestment,” Fiore said. “You actually have to take on more risk.”
On a whole, the study found that the pension funds they measured lost .15 percent or .2 percent of their value depending on how strictly defined divestment was.
For Pittsburgh, Fiore said that meant they could lose $358,000 to $478,000 a year.
However, Leslie Samuelrich, executive director of the Boston-based investment group Green Century Capital Management Inc., has made a career out of green investing and sees the numbers cited by Fiore as “insignificant.”
Instead, she points to Green Century Equity Fund — which she says has consistently topped the S&P 500 average for “many years” — as well as other studies by groups like MSCI Inc. (NYSE: MSCI) that show thinking about finance ethically doesn’t necessarily mean monetary loss.
In fact, the reaction of Pittsburgh — to doubling down on divestment after the Paris Agreement pull out — is a reaction she has also seen from private citizens, not just municipalities.
“The imaginary wall between what you do in your personal life and what you do with your money has been eroding, and I think the climate accords punched a hole in that wall,” Samuelrich said.
Even if Samuelrich saw the percentages cited by Fiore as puny, when Leger looks at the city’s pension, he is cautious — and besides, he says that he “can’t afford to waste the city pension fund for any reason.” But with a 2030 deadline, he seems confident that there is a green path for the city’s pension.
“We have to be careful we do not remove well-performing funds to accomplish this goal,” Leger said. “If you did it recklessly and started dumping funds that had any fossil fuels you probably would [lose money]…[but] by careful management, I might be able to accomplish divestiture at the same time.”
Pittsburgh Business Times
From: Camp White Pine <email@example.com>
Date: July 3, 2017 at 9:12:35 PM EDT
To: Camp White Pine <firstname.lastname@example.org>
Subject: Camp White Pine Requesting Support!
Hello Friends and Allies,
Since Camp White Pine was formed in early February, our goal has been clear: to use this strategic location to put our bodies in the path of the Mariner East 2, an Energy Transfer Partner’s pipeline, to prevent its completion. Since then, we have maintained a continuous treesit on the pipeline easement to defend against the natural gas liquids pipeline they want to pump through these wetlands. We have publicized our efforts and hopefully inspired many along the pipeline route that resistance is possible.
Our civil disobedience has not been taken kindly by ETP or the Huntingdon County Judge, George Zanic. In April, Judge Zanic granted ETP a writ of possession – an unprecedented step in eminent domain cases – giving them the rights of a property owner over the easement on the Gerhart’s land. Six days ago, they took it a step further and got Judge Zanic to grant an injuction demanding a halt to our treesit and authorizing the police to arrest all who stand in the way of ETP’s construction efforts.
But we will not be deterred by the unjust actions of ETP and the local judicial system. Instead, we will stand in the long tradition of those who have disobeyed unjust laws to uphold a much higher authority.
AND WE ARE ASKING YOU TO HELP US.
We need support and we need bodies willing to stand in the path of corporate destruction and face potential arrest. Our tree climbers are going to be in the trees risking their lives to stop ETP’s pipeline construction. We need folks on the ground willing to risk arrest to protect our tree climbers and stand against ETP’s destruction.
ETP and their private security, TigerSwan, are attempting to smear us as violent extremists for simply living in trees to defend them from being cut down and killed. In reality, we are here to stand nonviolently in defense of our earth and our future generations. The more people who come to support us in nonviolent civil disobedience, the more effective we can be at combating their narrative and showing that there are many people willing to risk arrest to stand in the way of their destruction.
There is a song we sing at camp brought to us from allies from the Dakota Access Pipeline fight:
People gonna rise like the water, we’re gonna shut this pipeline down.
Hear the voices of my great granddaughter, saying “keep it in the ground”
It reminds us of the urgency of our choices and the effects they will have on future generations. The time is now, all we have is each other and the power of love. The oceans are rising, so must we.
”If there is any hope for the world at all, it does not live in climate-change conference rooms or in cities with tall buildings. It lives low down on the ground, with its arms around the people who go to battle everyday to protect their forest, their mountains and their rivers because they know that the forests, the mountains, and the rivers protect them.” – Arundhati Roy
Camp White Pine
P.S. Please share with trusted contacts and peace/faith/justice groups that might be interested in supporting!!
Climate Ribbon Project Pittsburgh “Sister” People’s Climate March A participatory art ritual of love and hope for the Climate Justice Movement I LOVE AND HOPE TO NEVER LOSE… What do you love and hope to never lose to Climate Chaos? … Continue reading
On April 29th, we will march for our families. We will march for our air, our water, and our land. We will march for clean energy jobs and climate justice. We will march for our communities and the people we … Continue reading
June 10, 2015
As the Vatican with Pope Francis’ leadership prepares to release the much anticipated Encyclical on Creation scheduled for June 18, we in Western PA are preparing. We will be considering care for creation, sustainable development and the impact that climate change is having on the world’s poorest people
The name of the Encyclical is Laudato Sii (Praised Be You), is taken from St. Francis of Assisi’s “Canticle of the Sun”, a prayer praising God for Creation. The subtitle will be Italian, Sulla cura della casa comune, “on the care of the common home”.
People of faith and spirit around the world will be mingling prayer and mindful actions. We are continuing and building practices that can make a difference. Together we can inspire our leaders to be bold, and protect our future as we and they prepare for the Paris Climate Talks in late November-early December.
As you can see we will be offering many activities.
June 21 will find us participating in the Pittsburgh 350.org Rally for Climate Justice on Summer Solstice Sunday.
The morning of that We will begin with the first People’s Pilgrimage, a Walk for Paris. Our hope is that everyone will organize a series of mini-walks to or around the places you love, the places you are concerned about, remembering that around the world people are loving and caring for a region, a place, a family. Peoples Pilgrimages is a wonderful resource for prayers and meditations from around the world.
Time to begin ….
The Environmental Justice Committee
Thomas Merton Center
East Park, Allegheny Commons, Intersection of Cedar Ave and Lockhart Street, North Side.
There are two opportunities to demonstrate your concern about the climate crisis: a morning walk will connect climate change to air pollution from a Neville Island coke plant. In the afternoon there will be a Climate Action rally on the Northside.
ACTION: Bring your friends, family, neighbors and fellow workers to learn and demonstrate about the climate crisis.
Bring your hand-made signs and after the rally join the sidewalk procession over to the fountain at the Point. *Music provided by the Squirrel Hill Billies.*Reading of the Pittsburgh Climate Action Day Proclamation – Councilman Dan Gilman *Introductions and Opening Remarks – Patty DeMarco (Institute for Green Sciences, CMU) and many other interesting speakers. Description of the Problem and thoughts from local campaigns working on Solutions.
To RSVP or for more information contact Peter Wray at email@example.com with ‘Climate Action Rally’ on the subject line.
FOR IMMEDIATE RELEASE Media Contacts:
October 22, 2014 Rev. Fletcher Harper
firstname.lastname@example.org | 732-565-7740, ext. 301
Wanda Guthrie Begins GreenFaith Fellowship
National Initiative Training Diverse Religious-Environmental Leaders
Today, GreenFaith announced that Wanda Guthrie will join the Fellowship Class of 2015. Wanda Guthrie will join 30 classmates from religious traditions including Jewish, Christian, Hindu, Buddhist, Baha’i, and Unitarian Universalist. Members of this class of Fellows work in a wide variety of settings, including congregations, universities, environmental and religious NGO’s, denominational organizations, and peace organizations “I’m looking forward to joining the Fellowship community,” said Wanda Guthrie. “I’m deeply concerned about the threats facing the planet, and believe that religious communities can make an important impact. I want to contribute to that movement.”
“We’re thrilled to welcome these new Fellows into the Program,” said Rev. Fletcher Harper, GreenFaith’s Executive Director. “We look forward to working with them to support their growth as religious-environmental leaders.”
Since 2008, GreenFaith has trained over 130 Christian, Jewish, Muslim, Hindu, Buddhist and Unitarian leaders for environmental leadership. Through three residential retreats, monthly webinars, and extensive reading, the Fellows will receive education and training in eco-theology, “greening” the operation of religious institutions, environmental advocacy, and environmental justice. Each Fellow writes their own eco-theological statement and carries out a leadership project in their community, mobilizing religious leaders in relation to an environmental issue. Upon graduating, they will join the Fellowship’s alumni/ae network and mentor other emerging leaders in this field.
Harper directs the Program, with support from a multi-faith and multi-disciplinary faculty. “This program will offer these leaders the opportunity to become well-trained leaders in religious environmentalism,” said Harper. “They will help create an environmentally just and sustainable world.”
GreenFaith is an interfaith environmental coalition whose mission is to educate and mobilize diverse religious communities for environmental leadership. Founded in 1992, GreenFaith is a leader in the fast-growing religious-environmental movement and has won national and international recognition for its work. For more information, see www.greenfaith.org.
GreenFaith is grateful to the Kendeda Sustainability Fund for support for the Fellowship Program. For more information, visit www.greenfaith.org.
A local social-justice group yesterday announced its push to get local institutions to stop investing in fossil fuels. And it had company: the world’s best-known proponent of such disinvestment. Bill McKibben, founder of climate group 350.org, had stopped in Pittsburgh after returning from Europe, where he sought to persuade cities to pursue disinvestment. He was here to receive the Thomas Merton Award from Pittsburgh’s Thomas Merton Center, which plans to start gathering signatures on petitions asking Pittsburgh City Council to disinvest… Read More on pghcitypaper.com