Interfaith Institutional Investor Delegation to the Gulf Coast. May 1 3, 2006

Transcription

1 Interfaith Institutional Investor Delegation to the Gulf Coast May 1 3, 2006

2 Our Goals Community Investing: Developing community investing opportunities for Katrina and Rita impacted areas, including cities absorbing new residents, New Orleans proper, and rural areas. Look for ways to integrate community investing with long-term rebuilding plans. Solidarity: Bear witness to, and support, the work of the faith community and show solidarity with the communities most impacted by the disaster. Advocacy: Bring our ministry of corporate social responsibility to bear on issues facing the region, especially on increasing access to capital via work with banks and insurance companies.

3 The home of Brian Pitre in Delcambre, Louisiana, had to be raised over ten feet after flooding by Rita. Mr Pitre, a shrimp boat repairman, also lost his small business.

4 Sister Barbara Aires speaks with Burk & Barbara Saucier, who lost their house to Rita, in Erath, Louisiana. (Over five miles from the coastline).

5 Volunteers with Southern Mutual Help Association work to raise a house in New Iberia, Louisiana.

6 Over 80% of New Orleans Parish was flooded on September 11 th, 2005.

7 President Norman Francis of Xavier University points out the repaired campus to Sister Pat Marshall and Rev. Margaret Cowden. Xavier University reopened in January 2006, less than six months after flooding due to levee failure following Katrina.

8 St. Barnard parish, a suburban area directly east of New Orleans, is covered with trailer parks like this one.

9 The interior of a home flooded by storm surge from Rita in Erath, Louisiana.

10 Volunteers from the Mennonite Central Committee gut and repair a house in rural Louisiana near New Iberia.

11 The lower 9 th ward, east of the Industrial Canal, was devastated by ten or more feet of flooding after the canal wall was breached.

12 This barge, since removed, caused the initial breach in the wall of the Industrial Canal.

13 Sister Pat Marshall surveys the damage of the lower 9 th ward in New Orleans.

14 Levees also breached on the north side of New Orleans, in the very wealthy Lakeview neighborhood. This house is directly behind the initial breach. The sign reads Allstate paid $10, on this house for storm damage.

15 Sister Barbara Aires talks with Alden McDonald, the president of Liberty Bank. Liberty relocated to Baton Rouge after the flooding and has returned to their headquarters in New Orleans East. They are the only open business in several miles. Liberty is one of the largest African- American banks in New Orleans.

16 Sister Sylvia Thibodeaux, Congregational Leader of the Sisters of the Holy Family, shows her renovated mother house to Sister Pat Marshall, Elida El-Gawly, and Pat Zerega. The Sisters have been forced to close all of their ministries but are returning to New Orleans East.

17 ICCR Participants Sister Barbara Aires, Sr. of Charity of St. Elizabeth NJ Pablo Bravo, Catholic Healthcare West Rev. Margaret Cowden, American Baptist Churches Élida M. El-Gawly, CCVI-Houston Congregation James Gunning, Unitarian Universalist Association Jeffrey Dekro, Jewish Funds For Justice Tim Kelly, Jesuits, Maryland Province Pat Marshall, Sisters of the Blessed Sacrament Donna Meyer, Christus Health Delegation Co-Chair Bill Mills, Good Steward Fund Delegation Co-Chair Mark Regier, MMA Daniel Rosan, ICCR Staff Cathy Rowan, consultant to Trinity Health Patricia Zerega, Evangelical Lutheran Church in America

18 The Role of Investors Community Investment There is a wide range of options for investment in housing, small business loans, and community economic development. Corporate Responsibility The insurance industry must improve their response. Financial institutions can inject capital. Oil & gas companies will need to address emerging environmental concerns.

19 ICCR is taking action Institutional Investor Letter to Congress Providing Community Investment Opportunities Engaging Corporations, with an initial focus on insurers and banks.

20 About ICCR For thirty-five years the Interfaith Center on Corporate Responsibility (ICCR) has been a leader of the corporate social responsibility movement. ICCR's membership is an association of 275 faith- based institutional investors, including national denominations, religious communities, pension funds, endowments, hospital corporations, asset management companies, colleges, and unions. ICCR and its members press companies to be socially and environmentally responsible. The combined portfolio value of ICCR's member organizations is estimated to be $110 billion.

21 Contact ICCR Daniel Rosan Program Director for Access to Capital // Leslie Lowe Program Director for Environmental Justice // 475 Riverside Drive Suite 1842 New York, NY 10115

22 For More Information Greater New Orleans Community Data Center: Brookings Institute Katrina Index: Environment, Disaster, and Race After Katrina: PBS Now Full Katrina Coverage:

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