Philadelphia sues Wells Fargo over discriminatory lending practices
Philadelphia filed suit against Wells Fargo on May 15 in the U.S. District Court for the Eastern District of Pennsylvania, saying the bank engaged in discriminatory lending practices that targeted minority borrowers. The city claimed Wells Fargo violated the FHA by directing African American and Latino borrowers toward high-risk or high-cost loans even when their credit allowed them to obtain better loans. Using examples dating back to 2004, the city went on to allege that Wells Fargo knew and even incentivized marketing high-risk or high-cost loans to minorities. The bank denied all allegations. This is not the first lawsuit against Wells Fargo for discriminatory lending practices to minorities. Cities like Los Angeles, Oakland, Miami, Baltimore and Memphis, as well as the U.S. Department of Justice, have filed similar lawsuits against Wells Fargo. (Triple Pundit)
Fox news faces three more employee discrimination lawsuits
On Monday, 3 more Fox News employees came forward with claims of discrimination, adding to the list of allegations that has forced out some of the cable news network’s highest-rated talent and executives. Kathleen Lee, a shift editor at Fox News Radio, Naima Farrow, a former accounts payable coordinator, and Vidya Mann, a former accounts receivables specialist were the latest complained of discrimination and retaliation. Lee claims she faced retaliation for reporting sexist and harassing conduct. Farrow claims she encountered a racially hostile work environment and was fired less than three days after telling her supervisor she was pregnant. Mann, who wasn’t classified as a permanent employee, said she was also subjected to racial discrimination and was fired after giving birth. In an email statement Fox News said the latest claims weren’t supported by any legal basis. (Bloomberg)
Energy
PepsiCo, Walmart and setting a standard for sustainable fleets
Amid an increase in fuel and electrification options for vehicles of all sizes, PepsiCo has moved to a blend of diesel, natural gas and even a handful of all-electric vehicles. PepsiCo, Walmart, UPS,Amazon and the nonprofit membership group Business for Social Responsibility, or BSR have now come up with the new Sustainable Fuel Buyers’ Principles to face the environmental challenge. The effort, an outgrowth of BSR’s ongoing “Future of Fuels” initiative, aims to bring fleet owners together to help grow the market for low-carbon or electric industrial vehicles. The group is also look to encourage fuel pilots, spur dialogue about potential standards in the space and create case studies about successful implementations. (Green Biz)
Sustainable Development
3M, International Paper, P&G Team Up in the Name of Sustainable Forestry
American Forest Foundation (AFF), International Paper, The Proctor & Gamble Company (P&G) and 3M Company have banded together to form the CarolinasWorking Forest Conservation Collaborative. The joint initiative, which focuses on the Coastal Carolinas Plain, aims to educate and engage family woodland owners in sustainable forestry, forest certification, the enhancement of habitat for at-risk species and the conservation of bottomland hardwood forests. “There is a misconception that you cannot have both paper products and habitat from the same forest, however we have found that wood and wildlife can go hand-in-hand when family woodland owners are sustainably managing,” said Paul DeLong, VP of Conservation for AFF. (Sustainable Brands)
Tax
Climate-threatened Bangladesh to impose carbon tax in June
Carbon taxes – which raise the cost of using fossil fuels by creating a charge for the climate damage they do – are one of the simplest ways of driving climate action, experts say. Bangladesh is now set to impose its own on June 1 despite the hugely climate-vulnerable country producing relatively little per capita emissions. Although many businesses and environmental groups have welcomed the plan, they say the new tax may not make any significant contribution to achieving the Paris Agreement’s goal of keeping average global temperature increases below 2 degrees Celsius above pre-industrial levels. Md. Khalequzzaman, a Bangladeshi professor at Lock Haven University in Pennsylvania, said he believed that in a poor nation like Bangladesh industry – rather than consumers – should bear the cost of the new tax. He suggested that alongside imposing the carbon tax, the government should look at developing renewable sources. (Eco-Business)
Image source: Pine forest in Läänemaa, Estonia at Wikipedia. Public domain.
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