Urge Your Bank to Finance Projects Responsibly
Do you own shares or bonds of Chase Manhattan Bank, Citigroup, or Morgan Stanley Dean Witter? Do you use their banking, credit card, or investment management services? If you do, write and urge them to finance projects responsibly.
Dear Mr. ________:
I am writing to urge that your bank take action to incorporate environmental and human rights considerations into its policy and procedures for underwriting stocks and bonds.
<Please include a personal paragraph describing yourself, your business with the bank, and why you are concerned about this issue.>
The recent controversy over the bank underwriting of PetroChina stock and China Development Bank bonds highlights the need for banks to carefully assess the environmental and human rights impact of the stocks and bonds that they underwrite. Underwriting the securities of corporate bad actors and financing – even indirectly – controversial infrastructure projects, such as the 3 Gorges Dam, can quickly and dramatically hurts a bank’s goodwill and consumer businesses.
I urge you to take action to ensure to address these important issues as the same time as protecting your good reputation and franchise.
Please write back and tell me how you intend to address this critical concern.