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fall 2004
Action Alert
INSIDE: • JP Morgan Chase: Investments of Mass Destruction
• Jumpstart Ford: Day of Intervention
• FedEx Kinko’s: Greener Behind the Counter
Take Action Today!
DirtyMoney.org
ISSN 1081-5120 >> Action Alert is published four times yearly. Commercial reproduction prohibited. Students, teachers, and activists may copy text for limited distribution.
©2004 Rainforest Action Network • 221 Pine Street, #500 • San Francisco, CA 94104, USA • 415-398-4404 • www.ran.org
A Closer Look Inside JP Morgan Chase’s Investment Portfolio
1JP Morgan Chase has financed
some of the world’s most
destructive logging companies,
including arranging billions of
dollars in loans to Weyerhaeuser,
the number one destroyer of old
growth forests in North America,
and billions more to
International Paper,
MeadWestvaco, and Georgia-
Pacific.
2JP Morgan Chase has provided
billions of dollars in loans to
two of the most destructive gold
mining companies in the world,
Newmont Gold and Freeport
McMoRan. Both have been
accused of poisoning local
communities and hiring
paramilitary death squads to
carry out human rights abuses
against local opposition.
3JP Morgan Chase finances
Burlington Resources, a corrupt
oil company that continues to
drill for oil on indigenous
territory in the Ecuadorian
rainforest belonging to the
Shuar people. The Schuar have
rejected all oil exploration
throughout their traditional
ancestral lands.
Forest Destruction Radical Resource Extraction Global Injustice
www.ran.org
RAN Targets World’s
Second Largest Bank
JP Morgan Chase has yet to adopt basic envi-
ronmental and social safeguards to protect
endangered forests, curb climate change, and
ensure the rights of indigenous and local com-
munities affected by their investments.
Write to JP Morgan Chase CEO
William Harrison and tell him to stop
profiting from environmental
destruction.
JP Morgan Chase:
Investments of Mass
Destruction
WRITE TO:
William Harrison, Jr., CEO
JP Morgan Chase
270 Park Avenue
New York, NY 10017
Phone: (212) 270-6000
Fax: (212) 270-6522
JP Morgan Chase, with over $1 trillion in assets and fresh from its
recent acquisition of Bank One, is second only to Citigroup on the
short list of U.S. mega-banks with global operations and influence. Yet
unlike Citi and Bank of America, JP Morgan Chase has failed to show
environmental leadership. JP Morgan Chase is the largest U.S.-based
bank still operating without a comprehensive environmental policy
and one of the only global banks that refuses to adopt the Equator
Principles, which represent the bare minimum environmental safe-
guards. JP Morgan Chase has no comprehensive environmental policy
that measures how its lending practices impact endangered forests,
climate destabilization, and the rights of indigenous and local commu-
nities. It’s time for JP Morgan Chase to meet or beat industry best
practices set by Citigroup and Bank of America earlier this year.
In response to JP Morgan Chase’s backtracking on its promise to pro-
vide a policy by October 1st, RAN announced a new campaign expos-
ing JP Morgan Chase’s ‘investments of mass destruction.’ Poster-sized
ads reading “Stop IMDs” above a larger-than-life version of Chase’s
logo framed the seldom-seen environmental devastation caused by
destructive investments. The campaign launched on the busy streets
of Chicago, New York and Washington, D.C. in November.
In addition to the hard-hitting ads, RAN has created a new website,
DirtyMoney.org, which profiles case studies linking JP Morgan Chase
directly with investments of mass destruction around the world.
DirtyMoney.org will continue to profile a JP Morgan Chase ‘IMD of the
Month’ until the company fulfills its commitment to meet or beat new
industry best practices on the environment set by Bank of America
and Citigroup earlier this year.
As RAN campaigns to end destructive investment, a new environmen-
tally ethical economy is being born on Wall Street. In an article about
the launch of the campaign, The Financial Times recently referred to
RAN with the headline: “Rainmakers.” In November, the Global
Finance Campaign was honored with the 2004 Triple Bottom Line
Investing Award from Brooklyn Bridge, an international organization
that promotes socially responsible investing. The award recognizes
the work of Rainforest Action Network's Global Finance Campaign to
redirect the global economy away from socially and environmentally
destructive investments and into just and sustainable alternatives.
While the tide continues to turn within the finance sector, industry
players who refuse to take responsibility for the environmental
impacts of their investments fall further and further out of line with
modern social values. With the help of some tough love from RAN
activists and members, the Global Finance Campaign will continue to
gain ground and make headlines within the global financial services
sector and beyond.
Stop IMDsInvestments of Mass Destruction
Become a sustaining member.
221 Pine Street, Suite 500, San Francisco, CA 94104
tel: 415-398-4404 email: rainforest@ran.org www.ran.org
221 Pine Street, Suite 500, San Francisco, CA 94104
Being a sustainer means that with your regular and continued support, we can spend more time
running campaigns and less time fundraising. If we can keep winning victories, we can save the
rainforests. Your ongoing support is crucial to our success!
Please charge my credit card.
I want to help, but not on a monthly or quarterly basis. Here is my contribution of $
Monthly. Quarterly with a tax-deductible gift of: $15 $25 $50
$100 $
Name
Address
City, State, Zip
Phone
Email
Account Number
Expiration Date
Signature
VISA AMEX MC
NONPROFIT ORG.
U.S. POSTAGE
P A I D
SAN FRANCISCO, CA
PERMIT NO. 191
#165
also on the web at >
www.ran.org
When an old
growth tree falls
in the forest, we
make a noise.
Stay informed.
Get involved.
Support RAN!
AA165
Activists Hold ‘Day Of
Intervention’ At North
American Ford Dealers
Rainforest Action Network continues to pressure Ford, the
Environmental Protection Agency’s worst-ranked automaker, to stop
driving America’s oil addiction. On November 19, grassroots activists
protested at Ford dealerships across the United States and Canada as
part of an international ‘Day of Intervention’ calling on Ford dealers to
help pressure Detroit to stop pushing oil-addicted gas-guzzlers. The
mass action was a direct response to Ford’s broken promises to
improve fuel efficiency and the controversial decision to eliminate its
popular natural gas and all-electric vehicle programs. Creative interventions ranging from street theater to one-on-one meetings with dealers
confronted Ford with a message that its gas guzzling fleet is a leading cause of global warming and a danger to public health, national secu-
rity, economic stability and human rights. Demonstrations took place in more than 40 North American cities including Boulder, Boston, Des
Moines, Edmonton, New Orleans, Oakland and Vancouver. The actions came as RAN unleashed a new series of ads aimed at debunking
Ford’s misleading multimillion dollar marketing blitz to ‘green the blue oval.’ Ads featured in Mother Jones, Utne Reader, and The Progressive
depict a fleet of flag-draped Ford SUVs under the headline “The ultimate price of oil addiction,” while a full-page ad in The New York Times
features an open letter to Bill Ford from RAN Executive Director Michael Brune following the headline “Gas guzzling is un-American.”
Victory for Old Growth Forests!
FedEx Kinko’s increases recycled content of
behind-the-counter copy paper
RAN has worked closely with FedEx Kinko’s to achieve significant benchmarks which include the
adoption and implementation of its 2003 Forest-Based Products Procurement Policy. In December,
FedEx Kinko’s furthered its commitment to forest protection values by announcing the introduction
of a new private-label paper that substantially increases the recycled content of its standard behind-
the-counter stock, the company’s highest consumption area. The upgrade is a substantial increase in
the retailer’s overall post-consumer recycled content and a major step toward meeting growing con-
sumer demand for good wood products. The increase reflects FedEx Kinko’s renewed commitment to
environmentally ethical forest products and is acknowledged by leading environmental groups as a
significant benchmark in achieving the goals in its 2003 Forest-Based Products Procurement Policy.
RAN’s work with FedEx Kinko’s dates back to 1997 when then-Kinko’s released its Environmental
Vision Statement and pledged not to source paper from old-growth forests. The announcement is
another example of how RAN works with business leaders to achieve success in the marketplace by
protecting the world’s endangered forests.

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JP Morgan Chase targeted over investments

  • 1. fall 2004 Action Alert INSIDE: • JP Morgan Chase: Investments of Mass Destruction • Jumpstart Ford: Day of Intervention • FedEx Kinko’s: Greener Behind the Counter Take Action Today! DirtyMoney.org ISSN 1081-5120 >> Action Alert is published four times yearly. Commercial reproduction prohibited. Students, teachers, and activists may copy text for limited distribution. ©2004 Rainforest Action Network • 221 Pine Street, #500 • San Francisco, CA 94104, USA • 415-398-4404 • www.ran.org A Closer Look Inside JP Morgan Chase’s Investment Portfolio 1JP Morgan Chase has financed some of the world’s most destructive logging companies, including arranging billions of dollars in loans to Weyerhaeuser, the number one destroyer of old growth forests in North America, and billions more to International Paper, MeadWestvaco, and Georgia- Pacific. 2JP Morgan Chase has provided billions of dollars in loans to two of the most destructive gold mining companies in the world, Newmont Gold and Freeport McMoRan. Both have been accused of poisoning local communities and hiring paramilitary death squads to carry out human rights abuses against local opposition. 3JP Morgan Chase finances Burlington Resources, a corrupt oil company that continues to drill for oil on indigenous territory in the Ecuadorian rainforest belonging to the Shuar people. The Schuar have rejected all oil exploration throughout their traditional ancestral lands. Forest Destruction Radical Resource Extraction Global Injustice www.ran.org RAN Targets World’s Second Largest Bank JP Morgan Chase has yet to adopt basic envi- ronmental and social safeguards to protect endangered forests, curb climate change, and ensure the rights of indigenous and local com- munities affected by their investments. Write to JP Morgan Chase CEO William Harrison and tell him to stop profiting from environmental destruction. JP Morgan Chase: Investments of Mass Destruction WRITE TO: William Harrison, Jr., CEO JP Morgan Chase 270 Park Avenue New York, NY 10017 Phone: (212) 270-6000 Fax: (212) 270-6522 JP Morgan Chase, with over $1 trillion in assets and fresh from its recent acquisition of Bank One, is second only to Citigroup on the short list of U.S. mega-banks with global operations and influence. Yet unlike Citi and Bank of America, JP Morgan Chase has failed to show environmental leadership. JP Morgan Chase is the largest U.S.-based bank still operating without a comprehensive environmental policy and one of the only global banks that refuses to adopt the Equator Principles, which represent the bare minimum environmental safe- guards. JP Morgan Chase has no comprehensive environmental policy that measures how its lending practices impact endangered forests, climate destabilization, and the rights of indigenous and local commu- nities. It’s time for JP Morgan Chase to meet or beat industry best practices set by Citigroup and Bank of America earlier this year. In response to JP Morgan Chase’s backtracking on its promise to pro- vide a policy by October 1st, RAN announced a new campaign expos- ing JP Morgan Chase’s ‘investments of mass destruction.’ Poster-sized ads reading “Stop IMDs” above a larger-than-life version of Chase’s logo framed the seldom-seen environmental devastation caused by destructive investments. The campaign launched on the busy streets of Chicago, New York and Washington, D.C. in November. In addition to the hard-hitting ads, RAN has created a new website, DirtyMoney.org, which profiles case studies linking JP Morgan Chase directly with investments of mass destruction around the world. DirtyMoney.org will continue to profile a JP Morgan Chase ‘IMD of the Month’ until the company fulfills its commitment to meet or beat new industry best practices on the environment set by Bank of America and Citigroup earlier this year. As RAN campaigns to end destructive investment, a new environmen- tally ethical economy is being born on Wall Street. In an article about the launch of the campaign, The Financial Times recently referred to RAN with the headline: “Rainmakers.” In November, the Global Finance Campaign was honored with the 2004 Triple Bottom Line Investing Award from Brooklyn Bridge, an international organization that promotes socially responsible investing. The award recognizes the work of Rainforest Action Network's Global Finance Campaign to redirect the global economy away from socially and environmentally destructive investments and into just and sustainable alternatives. While the tide continues to turn within the finance sector, industry players who refuse to take responsibility for the environmental impacts of their investments fall further and further out of line with modern social values. With the help of some tough love from RAN activists and members, the Global Finance Campaign will continue to gain ground and make headlines within the global financial services sector and beyond. Stop IMDsInvestments of Mass Destruction
  • 2. Become a sustaining member. 221 Pine Street, Suite 500, San Francisco, CA 94104 tel: 415-398-4404 email: rainforest@ran.org www.ran.org 221 Pine Street, Suite 500, San Francisco, CA 94104 Being a sustainer means that with your regular and continued support, we can spend more time running campaigns and less time fundraising. If we can keep winning victories, we can save the rainforests. Your ongoing support is crucial to our success! Please charge my credit card. I want to help, but not on a monthly or quarterly basis. Here is my contribution of $ Monthly. Quarterly with a tax-deductible gift of: $15 $25 $50 $100 $ Name Address City, State, Zip Phone Email Account Number Expiration Date Signature VISA AMEX MC NONPROFIT ORG. U.S. POSTAGE P A I D SAN FRANCISCO, CA PERMIT NO. 191 #165 also on the web at > www.ran.org When an old growth tree falls in the forest, we make a noise. Stay informed. Get involved. Support RAN! AA165 Activists Hold ‘Day Of Intervention’ At North American Ford Dealers Rainforest Action Network continues to pressure Ford, the Environmental Protection Agency’s worst-ranked automaker, to stop driving America’s oil addiction. On November 19, grassroots activists protested at Ford dealerships across the United States and Canada as part of an international ‘Day of Intervention’ calling on Ford dealers to help pressure Detroit to stop pushing oil-addicted gas-guzzlers. The mass action was a direct response to Ford’s broken promises to improve fuel efficiency and the controversial decision to eliminate its popular natural gas and all-electric vehicle programs. Creative interventions ranging from street theater to one-on-one meetings with dealers confronted Ford with a message that its gas guzzling fleet is a leading cause of global warming and a danger to public health, national secu- rity, economic stability and human rights. Demonstrations took place in more than 40 North American cities including Boulder, Boston, Des Moines, Edmonton, New Orleans, Oakland and Vancouver. The actions came as RAN unleashed a new series of ads aimed at debunking Ford’s misleading multimillion dollar marketing blitz to ‘green the blue oval.’ Ads featured in Mother Jones, Utne Reader, and The Progressive depict a fleet of flag-draped Ford SUVs under the headline “The ultimate price of oil addiction,” while a full-page ad in The New York Times features an open letter to Bill Ford from RAN Executive Director Michael Brune following the headline “Gas guzzling is un-American.” Victory for Old Growth Forests! FedEx Kinko’s increases recycled content of behind-the-counter copy paper RAN has worked closely with FedEx Kinko’s to achieve significant benchmarks which include the adoption and implementation of its 2003 Forest-Based Products Procurement Policy. In December, FedEx Kinko’s furthered its commitment to forest protection values by announcing the introduction of a new private-label paper that substantially increases the recycled content of its standard behind- the-counter stock, the company’s highest consumption area. The upgrade is a substantial increase in the retailer’s overall post-consumer recycled content and a major step toward meeting growing con- sumer demand for good wood products. The increase reflects FedEx Kinko’s renewed commitment to environmentally ethical forest products and is acknowledged by leading environmental groups as a significant benchmark in achieving the goals in its 2003 Forest-Based Products Procurement Policy. RAN’s work with FedEx Kinko’s dates back to 1997 when then-Kinko’s released its Environmental Vision Statement and pledged not to source paper from old-growth forests. The announcement is another example of how RAN works with business leaders to achieve success in the marketplace by protecting the world’s endangered forests.