Loyola University Chicago’s Shareholder Advocacy Committee Challenges JP Morgan Chase on MTR

Loyola University Chicago’s Shareholder Advocacy Committee (SAC), utilizing the University’s stock in JP Morgan Chase, has been in conversation with the company regarding their involvement in mountain top removal coal mining (MTR).

A few of JP Morgan Chase’s competitors, such as Bank of America and Citigroup, have released policies or processes for environmental due diligence regarding MTR. The university is asking for a similar action from the company, as well as a clear and transparent policy for its stance on the issue - as a matter of both social and environmental justice and reputational risk.

Many such corporations believe that such environmental regulations are not their own responsibility, but rather under the purview of the government. Loyola has exemplified that colleges and universities, as shareholders, can – with a balanced approach – engage in dialogue with these companies to effect positive change in corporate behavior, and uphold their responsibilities, not only for their own success and credibility as global citizens, but for the common good.

Loyola’s SAC is receiving support from the Interfaith Center on Corporate Responsibility, National Jesuit Committee on Investment Responsibility, the Responsible Endowments Coalition, Seattle University, Stanford University and Columbia University.

Check out recent media on the issue at http://motherjones.com/politics/2010/03/jpmorgan-mountaintop-removal-mining

If your school is interested in participating in conversations such as Loyola’s Shareholder Advocacy Committee or if you’re interested in bringing the Move Your Money campaign to your campus as an extension of such a statement to banks like JP Morgan Chase, please contact the REC team. We are always happy to help!

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