Nia stands with the Business Forward Foundation in opposing the Department of Labor's proposed rule restricting ESG investing

The Alliance and its members strongly disagree with the substance of the Department of Labor's proposal of changes to the fiduciary standard for ERISA-regulated retirement plans, and urge regulators to reconsider their foundational assumptions that either lack supporting evidence or are in direct contradiction with broadly accepted investment practices and theories. 

The US Department of Labor has released a proposed rulemaking that is an attack on ESG investing, and would discourage fiduciaries from offering ESG funds because of burdensome requirements. ICCR has prepared a comment letter detailing why the department should withdraw this rule and outlining the harmful effects it will have on ESG investing.

Nia opposes the Department of Labor’s proposed rule, “Financial Factors in Selecting Plan Investments,” which relates to ERISA-regulated retirement plans. This rule should be withdrawn, as it goes against the ethos of free and fair market principles to which the American Sustainable Business Council and Social Venture Circle subscribe.  Fiduciaries should have the right to consider all material risk factors and should have access to fair and free competitive investment opportunities, including those that meet ESG criteria.  

A growing number of people in the US -- over 41 million-- are facing food insecurity. Meanwhile, the pandemic has left many small, beginning, and underserved farmers in dire financial straits. The Local FARM Act has been introduced to congress-- a way to support small family farmers and farmers of color to better serve their communities and stay in business. But we need you to help push your legislators to pass this bill. Nia has signed Friends of the Earths petition to support the "Local FARM Act." 

The Senate is trying to give Big Polluters a license to keep driving us toward climate disaster while harming front line communities through the “Growing Climate Solutions Act.” This bill allows "big agriculture" to greenwash their operations and continue to pollute communities. Similarly, the bill leaves small to medium family farmers at a greater disadvantage. Nia has signed Friends of the Earths petition to stop the "Growing Climate Solutions Act." 

WeTheChange is a global network of women and gender nonconforming

business leaders of B Corps and other purpose-driven organizations, committed to creating a radically inclusive and richly regenerative global economy. We believe in business as a force for good to generate abundance and prosperity for all. Nia has signed We the Change's Anti Racism statement and stands in solidarity with our Black sisters and brothers.

In November of 2019 the SEC proposed changes to their rules and regulations that would significantly impact shareholder's rights. We are active investors, creating open dialogues with our companies around best practices that will move us towards a just, inclusive, and sustainable economy. This new proposal would limit our access to company executives, ultimately putting a block in our line of communication. Nia has written to the SEC in regards to our concerns.

Rainforests in both Asia and South America are being cut down and set ablaze in order to produce palm oil, soy, beef and paper. As a result this irresponsible practice is driving out many endangered animals that live in those trees. KFC and Pizza Hut, both owned by Yum! Brands have provided little to no transparency on their practices that may be contributing to this deforestation. Nia has signed on with Sum of Us to demand that Yum! Brands be more transparent in their practices and stop contributing to the decline of our rainforests. 

Nia and 43 other members of First Affirmative's investor coalition have reached out to 18 major banks requesting disclosure and action in regards to gun-control legislation. 

Our current administration is doing everything they can to open up what is left of Bears Ears National Monument to drilling and mining. Nia has signed on with the Daily Kos and The Trust for Public Land to demand that our public lands remain out of the hands of private corporations. 

Many students at public universities are unable to receive abortion care on campus, forcing them to travel to access these services. SB 24 would require all on-campus health centers at public universities to offer medication abortion. Nia has signed on with NARAL Pro-Choice California asking for the support of reproductive freedom by signing SB 24 into law.

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The house will soon be voting on two critically important acts that would provide the most protection to our coasts we have seen in decades. Nia has signed on with League of Conservation voters to urge our representatives to ban offshore drilling from some of our most important coastlines. 

In the 1970s economist Milton Friedman popularized the philosophy know as "shareholder primacy". The premise being that shareholder profit is the sole purpose of corporations. At Nia, we feel that the sole purpose of a corporation is much more than simply generating shareholder profit. This is why Nia has signed on with Business Round Table on the release of an an updated Statement on the Purpose of a Corporation, opening the lens from shareholders to all stakeholders including customers, employees, suppliers and communities. 

Single-use plastic continues to generate tons of waste, harm wildlife, and can even poison our air. Nia has signed on with Greenpeace to ask our California state legislature to vote yes on the California Circular Economy and Plastic Pollution Reduction Act to continue our fight against the single-use plastic crisis.

New studies have found dangerous levels of glyphosate in General Mills breakfast products. Glyphosate is a toxic carcinogen known to cause cancer. Nia has signed on with Sum of Us to demand that General Mills get glyphosate our of their supply chain.

Tons of plastic waste are dumped into our oceans each year. These plastics not only pollute our oceans, but are extremely harmful to the marine life and ecosystems that live there. Nia has written to Governor Newsom and our State Legislator asking for their support of SB 54, AB 1080, and AB 792. This legislation would reduce plastic pollution in both our oceans and the communities we live in. 

Most major airlines generate tons of cabin trash each year. While some airlines have made moves to reduce single use plastic, Southwest has made little to no efforts in reducing their plastic waste. This is just one of the reasons Nia has signed on with Sum of Us to ask that Southwest take its sustainability commitment seriously and become the first plastic-free flight in the U.S.

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The Equator Principles are a risk management framework for financial institutions when determining the environmental and social risk of a given project. Nia has signed onto the Equator Principles Association to help with administration, management and development of these principles.

Monsanto's glyphosate has scientifically proven itself to be dangerous to human health since the 1980s. The EPA continues to aid Monsanto by not acknowledging glyphosate as a carcinogen. This harmful chemical is putting human lives at risk with the current administration's support. We have signed on with the Daily Kos to ask that the EPA protect American lives and ban Monsanto glyphosate pesticides.

Taylor's Energy offshore oil drilling rig has been spilling oil into the Gulf of Mexico every day for the last 15 years. These irresponsible practices are unacceptable and detremental to our oceans. This is why we have signed on with Friends of the Earth to ask that congress require Taylor's Energy to clean up their mess and demand the facility's wells to be plugged permanently. 

Fracking gas is harmful for our future and planet. Our current administration has proposed taking fracked liquified natural gas (LNG) and transporting it via railroad systems. This highly flammable resource makes transport by train extremely dangerous to both our planet, and the communities these railroads run through. This is why Nia has signed on with Friends of the Earth to ask that our administration reject the proposal to transport LNG by train. 

Credit card companies like Visa have the ability to report irregular purchases of guns and ammunitions to relevant law enforcement. Most mass shootings are committed with weapons bought via credit cards like Visa. This is why Nia has called Visa to ask that Visa do everything in its power to stop the next mass shooting before it happens.

If the Trump administration follows through on its plan to open up more than one million acres of California lands to fracking, communities and wildlands from the Central Valley to the coast will face an increased risk of toxic air and contaminated water. Nia has signed on in collaboration with the NRDC to ask the Bureau of Land Management to stop all plans to open public and private lands to oil and gas development. 

Our administration has just signed two executive orders expediting oil and gas pipelines in states who do not wish to have them. This has been signed at the expense of both our health and environment. Nia has signed on in partnership with the Daily Kos to ask that Congress block this executive order.

The “Don’t Ban Equality” statement is in response to an alarming trend of bans passing in states across the country that restrict access to comprehensive reproductive healthcare, including abortion. Nia has signed on to protect and expand access to reproductive health care, including Planned Parenthood Federation of America, NARAL Pro-Choice America, The American Civil Liberties Union and Center for Reproductive Rights.

Nia, along with other investors, has asked JPMorgan Chase — the world’s #1 banker of fossil fuels over the past three years, by a large margin — to clarify the bank’s approach to climate change, and to adopt a plan to align the bank’s policies and practices with the Paris Agreement’s goal of limiting global warming to 1.5° Celsius, while fully respecting human rights. We are asking that the big bank respond in a timely manner and welcome the opportunity to discuss our concerns with the appropriate management and board members.

Canadian officials are deciding whether to approve the expansion of the Trans Mountain pipeline. This type of major expansion will increase the likelihood of an oil spill in the North American west coast. Nia has signed on with Friends of the Earth to ask that Canadian officials take into consideration the harmful outcomes of this project and oppose the pipeline expansion.

Face recognition gives government agencies the unprecedented power to track who we are, where we go, and who we know. This capability threatens to create a world where people are watched and identified as they attend a protest, congregate outside a place of worship, visit a medical provider, or simply go about their daily lives. These are only a few of the reasons Nia has signed on with IAHR to put in place a federal moratorium on face recognition for law enforcement and immigration enforcement purposes until Congress fully debates what, if any, uses should be permitted.

For too long, public funds have been used by private Wall Street Banks to fund harmful projects that damage both our environment and local communities. The California Banks Act, AB 857 would put public funds under the control of the community enabling these funds to support local needs ranging from affordable housing, renewable energy, and children's education. This is why we have written to Oakland's assembly member, Rob Bonta, asking him to vote in favor of the California Banks Act.

Millions of acres of Canada's boreal forest have been cut down to produce toilet paper. Costco, currently uses 100% virgin pulp when they could be using recycled material. Toilet paper is Costco's biggest selling item and making the shift to recycled content would contribute vastly to the preservation of Canada's boreal forest. Nia has signed on with Sum of Us to ask that Costco be responsible in their production and commit to 50% post-consumer recycled materials.

Governor Newsom signed an executive order to develop a climate-resilient water system that will help ensure that California is better prepared to cope with our changing climate and that our drinking water sources and rivers are protected for future generations. Nia in collaboration with the NRDC has written to Governor Newsom to thank him for his continuous effort to help California become more climate-resilient.

The private prison industry is detaining over 70 percent of immigrants in ICE custody and are complicit in the epidemic of mass incarceration that devastates communities of color. In addition, research has shown histories of human rights abuses in private prisons. These private prisons often rely on funding from large banks. Nia has signed on with Moms Rising to demand that Bank of America and SunTrust stop financing private prisons. 

In 2018, only 3.5% of national television news segments that mentioned climate change referred to it as a crisis or emergency. At Nia, we understand the importance of how you frame things and by continuing to mislabel the current sate of our climate does a disservice to all by enabling compliance and inaction. This is why Nia has signed on with Friends of the Earth  to ask that the media call it what it is: a climate crisis. 

JPMorgan Chase has assets of more than $2.7 trillion, yet many of their employees do not earn enough to make ends meet. Nia has signed on with the Daily Kos and Katie Porter to demand that big banks pay their employees a living wage.

Our current administration wants to expand fracking in California opening up lands near Sequoia National Park, Yosemite and more to the fossil fuel industry. Nia has signed in opposition to this plan, aiming keep fossil fuels in the ground on our public lands in California and across the country. 

Workplace harassment is a reality for many, especially low wage workers. Nia has signed on with People for the American Way to ask that Congress pass the Be Heard act and protect workers from harassment on the job. This act is crucial in letting survivors know that we see them, we hear them, and we stand with them. 

 Last year we wrote to banks asking that they voluntarily implement better restrictions and screenings regarding firearms lending policies and practices. While some legislation has passed in states, we are concerned that reliance “lawful standard” in establishing due diligence standards with regard to firearms purchases represents a failure of banks and credit card companies to live up to their responsibility to respect human rights. This year we are following up with banks asking that they provide an update on their policies.

Nia has joined in partnership and solidarity with other women led certified B Corporations to create a radically inclusive and richly regenerative global economy. As women leaders of certified B Corporations and other purpose-driven enterprises, we believe in business as a force for good to generate abundance and prosperity for all. We are building a world where business is in harmony with nature and all life thrives. 
 

Shareholders of large companies like Exon and Amazon will soon vote on resolutions that demand concrete action on climate change. Fund managers like BlackRock, Vanguard and Fidelity hold a lot of power in their shareholder votes and can further leverage this power to take steps to combat climate change. This is why we have signed on with the Daily Kos to ask that these managers set the stage for others and hold fossil fuel company leaders accountable by voting for smart climate resolutions.

Building the Atlantic Coast Pipeline would cause irreversible damage to communities, cultures, and ecosystems. While clean energy prices decrease and access increases, demand for this pipeline becomes unjustifiable. Bank of America holds much power in the potential to cut funding for the ACP. This is why we have signed on with Friends of the Earth, urging the big bank to publicly commit to not investing a single dollar into the pipeline project.

Forced Arbitration for sexual harassment claims is far too common amongst publicly traded companies. Requiring workers to agree to settle sexual harassment claims with the employer through third party arbitration is wrong. Research has shown that claims are routinely mishandled and most often benefit employers. At Nia, we are against forced arbitration when it comes to sexual harassment. This is why we have signed on with the RISE Community to ask that publicly traded companies end the practice of forced arbitration.

At Nia, corporate gender equity is at the core of our mission and values. However, access to current information regarding company policies and practices is very limited. We understand the many benefits that come with having a diverse workforce, which is why we are asking companies to increase their transparency regarding gender equity policies and practices.

Our current administration continues to show us the negative ways in which they support Big Oil. As a country, we now face the threat of gutting the Clean Water Rule. This rule has been crucial in protecting our drinking water sources, which is why we have asked that the EPA abandon the proposed rollback on the 2015 Clean Water Rule.

As many impact investors know, BlackRock directs billions of dollars towards dirty energy. While CEO Larry Fink is feeling the continuous pressure to invest money into a safe and inhabitable planet; it is our job to keep the pressure on. That is why we have joined Sum of Us to ask that BlackRock use their investment power as a tool to fight climate change. 

As impact investors, we understand the responsibility we have when making investment choices. The investment system has the potential to contribute to greatly to achieving the Sustainable Development Goals. In order to embrace this potential, investors must incorporate ESG factors into the investment process and seriously consider the impact investments have for people and the planet. This is why have have signed on with IAHR to ask investors to asses risks to people and the planet when doing due diligence on investment options.

Turkmenistan currently sits as the 11th largest cotton exporter in the World. Controlled by the state, each year tens of thousands of adult citizens are forced to help in the harvesting of Turkmen cotton. Protest or refusal to aid in this effort results in the threat of dismissal or salary deductions from their normal jobs.  This state-sponsored forced labor is an international concern. As investors, we have signed on to ask that companies using Turkmen cotton take into consideration these practices, in addition to considering the legal, financial and moral concern behind this form of forced labor.

Since the Paris Agreement was signed in 2015, 33 of the world's top private banks have financed fossil fuels with approximately $2 trillion in assets. Nia has joined the Rainforest Action Network in urging Chase Bank to defund climate change. 

Various companies in the cosmetic industry use chemicals with known health hazards including those linked to caner, reproductive harm, learning disabilities, respiratory harm, and the list goes on. At Nia we take general health and well being very seriously. This is why we have signed on with ASBC to ask that Congressmen Pallone and Shimkus take into consideration long term health and strengthen the Cosmetic Safety Enhancement Act of 2019.

We strongly believe that a sustainable, circular economy is what our future needs. That is why we have committed to New Plastic Economy's vision to eliminate plastic pollutions at the source. We believe in a future where plastic never becomes waste.