Nuns submit resolution on Indigenous rights linked to Citigroup

The Sisters of St Joseph of Peace, a group of Catholic nuns in Englewood Cliffs, New Jersey, have dedicated the last four years to challenging Citigroup as shareholders. Their goal is to push the massive investment bank to reconsider its financial connections to projects that harm Indigenous communities. Despite numerous attempts to engage Citigroup, the lending giant has taken their concerns lightly. However, on March 7th, the US Securities and Exchange Commission sided with the Sisters, allowing their shareholder resolution on Indigenous rights to progress to Citi’s annual meeting on April 29th.

Sr Susan Francois, representing the Sisters, emphasized Citigroup’s efforts to stifle investor voices. While Citigroup claimed to have addressed Indigenous rights, their actions lacked substance and were not in line with international standards. A report released last year regarding Indigenous rights highlighted the bank’s failure to act, as the companies posing risks were not denied funding. Francois and her group vowed to persist in filing resolutions to hold Citigroup accountable for protecting Indigenous Peoples and their lands.

The SEC’s rejection of Citigroup’s attempts to block shareholder input was a victory for the Sisters. It ensured that investors could vote on their resolution, aimed at evaluating the bank’s effectiveness in mitigating risks to Indigenous Peoples. Francois stressed the importance of allowing shareholders to voice concerns on crucial matters and hold corporations like Citigroup responsible.

The Sisters’ involvement in shareholder advocacy dates back to 1976 when they challenged Colgate-Palmolive’s portrayal of women in advertisements. Through collaborations with Investor Advocates for Social Justice and the Northwest Coalition for Responsible Investment, they address economic and racial justice, advocating for human rights through corporate engagement with companies like Citigroup. Their faith drives them to promote the common good, extending beyond prayer to tangible actions that align with Gospel values of justice and peace.

In advocating for justice, Francois believes that prayer and action are interconnected, highlighting the role of faith leaders in standing with those affected by harmful policies. She encourages all individuals to amplify stories of struggle and resilience, working collectively for the greater good. The supportive prayers of the ecumenical community sustain their efforts to bring about change and peace.

The Sisters welcome partners to join them in the World Council of Churches’ project on climate litigation. Their collaborative efforts seek justice and accountability from financial institutions, connecting climate justice with upholding the rights and dignity of all people. Through shared dedication and prayerful support, they strive to create a world where justice and peace prevail for future generations.