Action on Climate Change
Before I get started on the latest news, I want to share some information about a climate action that is taking place today in several U.S. cities, including Boston. My sister-in-law is a leader in her local chapter of Mothers Out Front, an organization that fights climate change. The group has been working to call attention to Blackrock, a huge asset management corporation whose CEO Larry Fink has tried to position himself as pro-environment, while leading the company that contributes more than any other to the problem of global warming.
My brother made this video to publicize today’s actions.
The Guardian, May 21, 2019: World’s biggest investor accused of dragging feet on climate crisis.
[Blackrock CEO Larry] Fink, who was paid $24m (£18.8m) in 2018, began BlackRock as part of Blackstone, the world’s largest private equity group, and spun it out in 1995. Since then, New York-based BlackRock has risen to become an investing behemoth, controlling $6.5tn in assets – a value more than twice the annual output of the UK economy.
That staggering size has placed BlackRock at the heart of the global fossil fuel industry: it is the largest investor in coal worldwide, according to InfluenceMap, an environmental campaign group, and has by far the highest density of coal holdings of the world’s 10 largest investors. BlackRock effectively owns 2.1bn tonnes of thermal coal reserves, based on the size of its stakes in major miners.
BlackRock is counted among the top three shareholders in every oil “supermajor” bar France’s Total, and is among the top 10 shareholders in seven of the 10 biggest coal producers, according to Guardian analysis of data from financial information firm S&P.
Yet Fink, 66, who moves in US Democrat political circles, argues it is not his company’s duty to fight the climate emergency. In the real version of his annual letter to shareholders, published in January, Fink said that his overriding duty is to make customers money.
“Our firm is built to protect and grow the value of our clients’ assets,” Fink wrote. “We often get approached by special interest groups who advocate for BlackRock to vote with them on a cause. In many cases, I or other senior managers might agree with that same cause – or we might strongly disagree – but our personal views on environmental or social issues don’t matter here. Our decisions are driven solely by our fiduciary duty to our clients.”
Also from The Guardian, September 17, 2019: Wall Street investment giants voting against key climate resolutions.
Some of Wall Street’s largest asset management companies are failing to live up to commitments to use their voting power to fight the climate crisis, according to a new report.
The report, published on Tuesday by the Washington DC-based Majority Action and the Climate Majority Project, claims that BlackRock Inc, the world’s largest asset manager with more than $6tn under management, and Vanguard, with assets of $5.2tn, have voted overwhelmingly against the key climate resolutions at energy companies, including a resolution at ExxonMobil’s annual shareholder meeting, and at Duke Energy.
Had BlackRock and Vanguard not torpedoed these investor efforts, at least 16 climate-critical shareholder resolutions at S&P 500 companies would have received majority support in 2019, representing a significant corporate shift on climate, the report claims….
“The climate crisis is well upon us, and leading investors are stepping up to press fossil-fuel-dependent companies to align their strategies to the goals of the Paris agreement but some of the largest US investment companies are severely lagging,” said Majority Action’s Eli Kasargod-Staub.
“Blackrock and Vanguard have been using their shareholder voting power to undermine, rather than support, investor action on climate, including opposing every one of the resolutions proposed by the $34tn Climate Action 100+ coalition, calling for significant board room reform in response to its failure to act on climate change,” Kasargod-Staub added.
Unfortunately, it’s raining in Boston today. I expect the mothers will still show up for the demonstration though. I’ll report back if I hear anything about how it went.
UPDATES from the Boston BlackRock protest
Impeachment Inquiry News
Today a White House insider who heard Trump’s call to Ukraine president Volodymyr Zelensky will testify in the impeachment inquiry.
The New York Times: Army Officer Who Heard Trump’s Ukraine Call Reported Concerns.
A White House national security official who is a decorated Iraq war veteran plans to tell House impeachment investigators on Tuesday that he heard President Trump appeal to Ukraine’s president to investigate one of his leading political rivals, a request the aide considered so damaging to American interests that he reported it to a superior.
Lt. Col. Alexander S. Vindman of the Army, the top Ukraine expert on the National Security Council, twice registered internal objections about how Mr. Trump and his inner circle were treating Ukraine, out of what he called a “sense of duty,” he plans to tell the inquiry, according to a draft of his opening statement obtained by The New York Times.
He will be the first White House official to testify who listened in on the July 25 telephone call between Mr. Trump and President Volodymyr Zelensky of Ukraine that is at the center of the impeachment inquiry, in which Mr. Trump asked Mr. Zelensky to investigate former Vice President Joseph R. Biden Jr.
“I did not think it was proper to demand that a foreign government investigate a U.S. citizen, and I was worried about the implications for the U.S. government’s support of Ukraine,” Colonel Vindman said in his statement. “I realized that if Ukraine pursued an investigation into the Bidens and Burisma it would likely be interpreted as a partisan play which would undoubtedly result in Ukraine losing the bipartisan support it has thus far maintained.”
The latest Democratic debate airs on CNN tonight at 8PM. You can read about what to expect in this piece at Vox.
Sorry to be a wet blanket, but I have to admit that I’m far from enthused about watching it, although I’ll try to give it a chance. I’m sick of the irrelevant candidates like Andrew Yang, Tulsi Gabbard, and Tom Steyer; and as for the top three–Biden, Warren, and Sanders–I still believe they are too old for the job.
If we are going to have a septuagenarian president, I would rather have it be Hillary. I guess I have to face the fact that I’ll never be as excited about a candidate as I was about her.
Another issue with tonight’s debate is the Biden campaign’s decision to allow Hunter Biden to participate in an ABC News interview today.
From The Daily Beast: Biden’s Rivals Are Utterly Perplexed at the Timing of Hunter’s Interview.
After months of staying silent amid an avalanche of attacks by President Trump and his team, Hunter Biden, son of the former vice president, made his first public comments in an interview Tuesday morning just about 12 hours before his father takes the debate stage Tuesday night.
For the majority of the Democrats running for president, and even one notable surrogate to Joe Biden himself, there is a sense of confusion as to why Hunter is choosing now to finally speak up about the extent of his business ties in Ukraine and China.
“I wouldn’t have put Hunter on the air,” former Pennsylvania Gov. Ed Rendell, a top surrogate for Biden, told The Daily Beast. “I think the more you respond, the more you’re playing into Donald Trump.” [….]
For Team Biden, Hunter’s Biden’s interview, which aired on ABC News’ Good Morning America, was an opportunity to clear the air and turn the attention back to the widespread corruption running rampant in the Trump White House. It also gave the younger Biden a chance to present facts in his own words to counter Trump’s misinformation campaign.
In the interview, he admitted that he had shown “poor judgment” in taking the job with a Ukrainian natural gas company but insisted that he had done nothing unethical.
Does anyone believe that the debate moderators will ignore all this and focus on Donald Trump and his children’s blatant self-dealing? I don’t.
Meanwhile, Trump is burning down the post-WWII world order. That should be the subject of tonight’s debate, not Hunter Biden.
Fred Kaplan at Slate: Trump’s Worst Betrayal Yet.
President Trump didn’t make a “mistake” in pulling troops out of northeastern Syria last week, as many have charged. It’s what he has long wanted to do. The mistake was not understanding—and, more to the point, not caring about—the consequences.
Trump’s fateful phone call with Turkish President Recep Tayyip Erdogan on Oct. 6, giving him the green light to cross the Syrian border and crush the Kurds without U.S. resistance, did more than any single act has ever done to demolish the post-WWII global order and isolate America from the rest of the world. This, again, has been Trump’s goal since he entered the White House.
Until recently, one or more of his advisers—Jim Mattis, H.R.
McMaster, John Bolton, or Gen. Joseph Dunford—obstructed or dissuaded him from withdrawing. Now all of those advisers are gone, and their replacements lack either the clout or the gumption to push back.
Trump may believe that he’s doing the right thing, that abandoning the rest of the world’s problems will “make America great again.” He doesn’t realize that America’s might and wealth depend, in large measure, on the cooperation it receives from others—either offered or coerced—in pursuing its interests around the world.
He is also blind to the fact—or loath to admit—that he, in fact, is not getting out of the world. On Friday, days after abandoning the Kurdish allies to the Turks (and consequently, all of Syria to Bashar al-Assad and the Russians), Trump announced that he was sending 1,800 troops to Saudi Arabia. But to Trump’s mind, there was a big difference in this deployment.
“Saudi Arabia, at my request, has agreed to pay us for everything we are doing to help them,” he told reporters. “That’s a first. We appreciate that.”
To Trump, the U.S. military is nothing more than a mercenary force to be rented out to the highest bidder.
It was as if sending American troops abroad doesn’t count as a commitment if taxpayers don’t have to pay for it. It was as if Trump were telling the world that the U.S. military is now a mercenary force. It was a message to any country currently hosting American troops at least in part at our largesse—because, say, previous presidents have considered it in U.S.
interests to keep troops there—that they should start rethinking their options for how to stay secure
Trump has made a practice of abrogating treaties, filching on commitments, and alienating allies, but, more than any single act, the betrayal of the Kurds should tell everyone that—as long as Trump is president and, who knows, perhaps beyond—there is no reason to trust the United States on anything.
I hope you’ll go read the rest at Slate.
From Axios, here’s a quote from deep thinker Trump on abandoning the Kurds:
“Anyone who wants to assist Syria in protecting the Kurds is good with me, whether it is Russia, China, or Napoleon Bonaparte.” read one of the president’s tweets. “I hope they all do great, we are 7,000 miles away!”
He doesn’t seem at all concerned about getting U.S. troops out of Syria safely or getting our nukes out of Turkey.
Trump even tried to blame the Kurds for the release of Islamic State prisoners. From The Week:
It appears that President Trump was a bit off the mark Monday morning when he tweeted a theory that Kurdish forces were releasing prisoners with ties to the Islamic State in an attempt to get the U.S. to continue fighting alongside them. Trump’s suspicions were likely derived from the fact that the Kurds, longtime U.S. allies in the Middle East, were disappointed in Washington for removing U.S. troops from the region, providing Turkey — which considers Kurdish forces a national security threat — an opening to invade.
U.S. officials have said that prisoners with ISIS ties are being deliberately released, but it’s actually Turkish proxy forces in the Free Syrian Army — a decentralized rebel group that has been linked to extremists groups and was once recruited by the CIA to aid the U.S. in its fight against ISIS — who are behind it, rather than the Kurds, Foreign Policy reports. The Free Syrian Army has also been accused of executing Kurdish prisoners and killing unarmed civilians.
As for the Kurds, one U.S. official said the Kurdish-led Syrian Democratic Forces have not abandoned or released any prisoners with ISIS ties and, in some cases, the SDF has reportedly moved detainees to other facilities further south.
Subsequently, Trump’s theory is not sitting well with U.S. and Kurdish forces. “That has enraged our forces in Syria,” another senior U.S. administration official said. “Kurds are still defending our bases. Incredibly reckless and dishonest thing to say.”
Yesterday, Trump’s former Russia and Ukraine adviser Fiona Hill testified at the Impeachment hearings. Here’s the latest on that.
Fiona Hill, the White House’s former top Russia adviser, told impeachment investigators on Monday that Rudolph W. Giuliani, the president’s personal lawyer, ran a shadow foreign policy in Ukraine that circumvented U.S. officials and career diplomats in order to personally benefit President Trump, according to people familiar with her testimony.
Hill, who served as the senior official for Russia and Europe on the National Security Council, was the latest witness in a fast-moving impeachment inquiry focused on whether the president abused his office by using the promise of military aid and diplomatic support to pressure Ukraine into investigating his political rivals.
In a closed-door session that lasted roughly 10 hours, Hill told lawmakers that she confronted Gordon Sondland, the U.S. ambassador to the European Union, about Giuliani’s activities which, she testified, were not coordinated with the officials responsible for carrying out U.S. foreign policy, these people said, speaking on the condition of anonymity to disclose details of her deposition.
Sondland played a leading role in the Trump administration’s efforts to pressure Ukraine to open investigations of the president’s political rivals, text messages obtained and later released by House Democrats show. Three congressional committees are now probing how Trump pressured Ukraine to investigate former vice president Joe Biden and his son, Hunter Biden, who was on the board of a Ukrainian energy company, as well as a debunked theory that Ukraine interfered in the 2016 U.S. election in an attempt to damage Trump’s candidacy.
Sondland plans to testify on Thursday and the Committees are now talking about questioning John Bolton.
The New York Times: Bolton Objected to Ukraine Pressure Campaign, Calling Giuliani ‘a Hand Grenade.’
The effort to pressure Ukraine for political help provoked a heated confrontation inside the White House last summer that so alarmed John R. Bolton, then the national security adviser, that he told an aide to alert White House lawyers, House investigators were told on Monday.
Mr. Bolton got into a tense exchange on July 10 with Gordon D. Sondland, the Trump donor turned ambassador to the European Union, who was working with Rudolph W. Giuliani, the president’s personal lawyer, to press Ukraine to investigate Democrats, according to three people who heard the testimony.
The aide, Fiona Hill, testified that Mr. Bolton told her to notify the chief lawyer for the National Security Council about a rogue effort by Mr. Sondland, Mr. Giuliani and Mick Mulvaney, the acting White House chief of staff, according to the people familiar with the testimony.
“I am not part of whatever drug deal Sondland and Mulvaney are cooking up,” Mr. Bolton, a Yale-trained lawyer, told Ms. Hill to tell White House lawyers, according to two people at the deposition. (Another person in the room initially said Mr. Bolton referred to Mr. Giuliani and Mr. Mulvaney, but two others said he cited Mr. Sondland.)
Read the rest at the NYT.
Finally, The Daily Beast reports that Trump Suspects a Spiteful John Bolton Is Behind Some of the Ukraine Leaks.
In recent weeks, numerous leaks have appeared in the pages of The Washington Post, The New York Times, The Wall Street Journal, and other major papers and news outlets detailing the president’s attempts to enlist foreign leaders to help dig up dirt on former Vice President Joe Biden and also aid Trump’s quest to discredit Special Counsel Robert Mueller’s concluded investigation. And as is his MO, the media-obsessed president has been fixated on not just the identity of the whistleblower behind the internal complaint that brought this scandal to the fore, but also on who, exactly, has been namelessly feeding intel to the press.
In the course of casual conversations with advisers and friends, President Trump has privately raised suspicions that a spiteful John Bolton, his notoriously hawkish former national security adviser, could be one of the sources behind the flood of leaks against him, three people familiar with the comments said. At one point, one of those sources recalled, Trump guessed that Bolton was behind one of the anonymous accounts that listed the former national security adviser as one of the top officials most disturbed by the Ukraine-related efforts of Trump and Rudy Giuliani, the president’s personal attorney who remains at the center of activities that spurred the impeachment inquiry.
What else is happening? Please share your thoughts and links in the comment thread.