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Tri-State CRI
40 South Fullerton Avenue
Montclair, NJ
(973) 509-8800
Fax: (973) 509-8808

Tri-CRI Joins Investors In Support of Legislation Requiring Disclosure and Corporate Action on Human Trafficking Risks

The Tri-State Coalition for Responsible Investment is honored to join over 100 investors with over $1 trillion in assets under management in sending a statement to the US Senate and House of Representatives urging strong bi-partisan support for The Business Supply Chain Transparency on Trafficking and Slavery Act of 2015 (H.R. 3226/S.1968).

Read the full statement here

ICCR Press Release available here

Tri-CRI Letter Calls on GE to Complete Cleanup of the Hudson River

On August 21, the Tri-State Coalition for Responsible Investment sent a letter to General Electric urging the company to fully complete the cleanup of the Hudson River:

"As shareholders in GE, our Coalition has long been involved in encouraging our company to take full and complete responsibility for the contamination caused by the disposal into the Hudson River of polychlorinated biphenyls (PCBs) that were used at the Fort Edward and Hudson Falls plants until 1977. In addition to our concerns about the impact of the PCB contamination and thorough cleanup on our company's long-term value, we raise these issues due tot he grave effects they have had on communities along the Hudson River, whose health and well-being have been negatively impacted, along with the economic vitality of the entire Hudson Valley region, ecosystem, and waterway."

Tri-CRI's letter adds to a growing chorus of calls from community and environmental stakeholders along the Hudson, including the Campaign for a Cleaner Hudson which hailed the Coalition's letter, as GE has begun to dismantle the Fort Edward PCB Processing Plant.

Although GE will soon complete the dredging required by a 2002 agreement between the Company and the EPA, as Tri-CRI's letter states "subsequent studies by the Federal Natural Resources Damages Trustees and EPA indicate that there is still much to be done."  This echoes a letter from 25 New York state senators which notes with concern the "reports from federal, state and independent natural resource scientists indicating that significant PCB ‘hot spots’ will remain after the company’s dredging operations shut down later this year."

In light of these reports and the imminent end of GE's existing dredging activities, Tri-CRI's letter urges the company to "enter into a voluntary agreement with state and federal authorities to complete a more extensive cleanup and restoration of the 40 mile stretch in the Upper Hudson."

The letter notes with concern the financial, legal and reputational risks to GE of failing to take full responsibility for the cleanup of the Hudson.  As quoted in the Albany Times Union, Tri-CRI member Cathy Rowan, coordinator of Corporate Responsibility for the Maryknoll Sisters, stated "We think it is important for other investors to know that GE is facing this [reputational] risk."

The full letter of the Tri-State Coalition for Responsible Investment to GE is available here.

Sister Pat Daly on Fox Business Discussing Laudato Si and Climate Change

Following the release of Pope Francis' Encyclical 'Laudato Si', Sister Pat was invited to speak on Fox News about climate change.  In the interview below on the show Varney & Co., Sister Pat discusses the encyclical and the history of the work of the Tri-State Coalition for Responsible Investment with corporations on climate change.

Tri-CRI Joins Investors With $2.6 Trillion AUM in Letters to 15 Companies on Water Management

The Tri-State Coalition for Responsible Investment is proud to join over 60 institutional investors in sending letters to 15 food and beverage companies identified as laggards on water management by the recent Ceres report Feeding Ourselves Thirsty.

In today's Ceres press release about the letters, Acting Director Mary Beth Gallagher was quoted on the importance of water quality, not just water scarcity or quantity:

"Pollution from farm runoff poses environmental, reputational and financial risk to food companies, especially those in the meat industry. We’d like to see exposed companies outline specific practices for improving water quality for their facilities, their contract facilities and their suppliers to reduce the impacts of their operations on the right to water in nearby communities.”

The Tri-State Coalition leads shareholder engagement with Tyson Foods, one of the companies receiving the letters, with a focus on water quality management.

Read an example of the full letter, complete list of signatories and list of companies that received the letter.

Tri-State Coalition for Responsible Investment Welcomes Announcement of Clean Power Plan

Tri-State Coalition for Responsible Investment Welcomes Announcement of Clean Power Plan

The Tri-State Coalition for Responsible Investment applauds the final version of the Clean Power Plan to regulate carbon dioxide emissions from power plants.  In addition to contributing to climate mitigation, these essential regulations, which for the first time set limits on carbon pollution from power generation, will bring large public health benefits. As a coalition of Catholic investors who have engaged with corporations on these issues for decades, we recognize that these regulations will protect the most vulnerable among us, while protecting our economy for long-term value creation.

In his recent encyclical on the environment, Laudato Si’, Pope Francis calls on all people to recognize that “the climate is a common good, belonging to all and meant for all.”  The Clean Power Plan is a step towards this recognition and towards the establishment of more just relationships among people and between humanity and our planet.

We are especially pleased that the final version of the regulations incorporates feedback from the public comment we submitted to the EPA in coordination with the Interfaith Center on Corporate Responsibility. In particular, we welcome the emphasis of the final rules on increasing energy efficiency and renewable energy to meet established state targets, through appropriate incentives, as well as the heightened ambition of the plan to achieve 32%, rather than 30%, emissions reductions by 2030.  These rules will spur innovation and provide economic opportunity as low-cost, low carbon technologies are developed and adopted. We are confident that the utilities in which we are invested can not only meet, but even exceed these targets, and that these rules will mark a turning point in electricity markets. We encourage our portfolio companies to publicly accept the final rule and work with their states toward robust implementation.


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