Kanye West sued by Donna Summer estate over ‘I Feel Love’ sample

The estate of late singer Donna Summer has begun legal action against rappers Kanye West (Ye) and Ty Dolla $ign for allegedly using her song “I Feel Love” on their album Vultures 1 without permission.

The lawsuit has been brought forward by Bruce Sudano, Summer’s widower and executor of her estate. The musician, who was widely known as the “Queen of Disco” died in 2012, aged 63.

The complaint states West and Ty Dolla $ign, real name Tyrone Griffin, were not authorised to use her song in the track “Good (Don’t Die)”, which has been removed from streaming services following an earlier complaint by the estate.

The lawsuit, filed in federal court in Los Angeles, also alleges when representatives of Ye asked for permission to use the song they were rejected because the Summer estate “wanted no association with West’s controversial history.” They say they rejected the request on 3 February.

The estate claims the album instead “shamelessly” includes re-recorded parts of the song that were “instantly recognisable.”

“In the face of this rejection, defendants arrogantly and unilaterally decided they would simply steal ‘I Feel Love’ and use it without permission.”

“The Summer Estate not only considered the immense commercial value of the ‘I Feel Love’ composition, but also the potential degradation to Summer’s legacy,” the complaint said.

“West is known as a controversial public figure whose conduct has led numerous brands and business partners to disassociate from him.”

https://ca.news.yahoo.com/kanye-west-sued-donna-summer-125415152.html

Houthi Terrorist attack on Red Sea ship causes massive oil slick

The Yemen-based Houthi attack last week on a UK-owned ship in the Red Sea caused a 29-kilometer (18-mile) oil spill, the US military said early Saturday.

The Rubymar, a Belize-flagged vessel, was attacked on February 18, the US Central Command (CENTCOM) said in a statement on X, formerly Twitter, adding that the vessel “is anchored but slowly taking on water.”

CENTCOM said that the vessel was transporting over 41,000 tons of fertilizer when it suffered an “unprovoked and reckless attack” that caused “significant damage” and an “18-mile oil slick.”

Fertilizer spill would worsen ‘environmental disaster’

The statement warned that the fertilizer has the potential to spill into the Red Sea and worsen what it already billed as an “environmental disaster.”

The Houthi rebels said on Monday that they had attacked a British ship in the Gulf of Aden, claiming that the vessel was so severely damaged that it could sink.

The ship’s operator said Thursday the ship could be towed this week to Djibouti, where the crew were evacuated to, before being flown home.

https://www.dw.com/en/houthi-attack-on-red-sea-ship-causes-massive-oil-slick/a-68360093

 Bible Baptist Tabernacle in Monroe, North Carolina. Pastor claiming women wearing shorts are to blame for rape

Video of a North Carolina pastor implying that women in shorts deserve to be raped is sparking outrage—not just on social media, but in the pastor’s local community, where a protest was held.

Yesterday, The Roys Report (TRR) Founder Julie Roys posted a clip on X, formerly Twitter, of a sermon last August by Pastor Bobby Leonard of Bible Baptist Tabernacle in Monroe, North Carolina.

Commenting on seeing women wearing shorts at an outlet mall, Leonard said, “If you dress like that and you get raped, and I’m on the jury, he’s going to go free. You don’t like that, do you? I’m right, though. Because a man’s a man.”

As of publication time, the post has been viewed 2.7 million times, only 26 hours after being posted. 

In the post, which also has 100,000 total engagements and over 18,000 likes, Roys writes: “Yes, a man is a man—not an animal. And HE is responsible for controlling himself. This pastor needs to resign.”

the son of a different pastor at this church was sentenced to 15 years for sexually abusing 6 & 7 year old children at this church.

https://www.wsoctv.com/news/teen-accused-of-sex-crimes-involving-multiple-chil/223073264

Bill Gates’ Dream of Blocking Sunlight About To Be Realized

And that You should reward Your servants the prophets and the saints, And those who fear Your name, small and great, And should destroy those who destroy the Earth.” -Rev. 11:18

Bill Gates, ever the demented snake oil salesman, has long argued in favor of a bizarre plan to fight global warming by using experimental geoengineering to partially block the sun’s rays from reaching Earth.

Well, he’s apparently about to get his wish.

Scientists plan to begin pumping chemicals into the sky over the next few weeks and months from several countries around the globe, including the U.S., Australia and Israel.

The idea, promoted by Gates and leftist billionaire George Soros, involves pumping manmade white clouds containing chalk dust and other chemicals into the atmosphere to reflect sunlight away from the Earth’s surface.

Blocking the sun’s light would allegedly lower the planet’s temperature enough to reverse global warming.

Never mind that fruit trees and vegetables require sunlight in order to grow and produce food for the masses. Not to mention, sunlight is the primary source of critical Vitamin D, an essential nutrient for human immunity. Gates, a known eugenicist who goes around giving talks about how we need to reduce the global population, likely sees these dark possibilities as exciting side effects of the nefarious sun-blocking plan.

Soros is similarly excited about the plan. He says the technology will help to prevent ice from melting in Greenland, which he claims could doom human civilization.

How ironic that the very globalists who are doing everything in their power to destroy human civilization claim to be worried that global warming might speed up the process.

Globalists like Bill Gates and George Soros are doing harm to the environment through their genocidal climate agenda on multiple levels. They advocate blanketing our fertile farmland with toxic solar panels, while filling more acres of farmland with wind turbines that kill birds and other wildlife. They also push electric cars which run on toxic lithium batteries that are going to create an environmental nightmare in the years ahead because, like with the solar panels, there’s no way to safely dispose of them.

Chloe Aiello of Inc. magazine reported on February 13, 2024, that a Bill Gates-Backed Startup Just Raised $145 Million to Source Lithium-Ion Batteries for Electric VehiclesMuch of the lithium mined in the world today is done on the backs of child labor in poor countries of Africa and Asia. But don’t tell that to Bill Gates, George Soros, Larry Fink and their buddies at the World Economic Forum.

Despite their destructive plans, these globalists insist they are our saviors and we should look to them for answers on how to live a sustainable lifestyle. Please.

About the devious sun-blocking formula, Soros said: “Our civilization is in danger of collapsing because of the inexorable advance of climate change. The melting of the Greenland ice sheet would increase the level of the oceans by 7 meters. That poses a threat to the survival of our civilization.”

Of course this is all nonsense meant to stoke fear. A fearful population will beg for solutions to the imaginary problem, inviting their own enslavement. More than 20 years ago, Al Gore made the exact same dire predictions about ice melting, polar bears dying, hurricanes increasing, and whole cities being submerged in water. None of these apocalyptic predictions have materialized.

According to a report by Slay News, the tactics advocated by Bill Gates involve spraying aerosol concentrations into the stratosphere to reflect solar radiation away from the Earth.

Gates has been funding a major project at Harvard using balloons to deploy aerosols. The Harvard project was shut down following public backlash.

But now, the Wall Street Journal is reporting that another group of scientists has been advancing Gates’ idiotic and, frankly, dangerous plan.

Marine Cloud Brightening is a research project led by Southern Cross University as part of the $64.55 million, or 100 million Australian dollars, Reef Restoration and Adaptation Program.

The program involves modifying clouds to make them reflect sunlight away from the Earth to supposedly stop global warming.

CBS seizes confidential files of fired reporter pursuing Hunter Biden laptop story in ‘unprecedented’ move: sources

The acclaimed CBS reporter who was investigating the Hunter Biden laptop scandal before she was fired last week had her personal files seized by the network in an “unprecedented” move, sources told The Post on Thursday.

Catherine Herridge — who is the middle of a First Amendment case being closely watched by journalists nationwide — was among 20 CBS News staffers let go as part of a larger purge of hundreds of employees at parent company Paramount Global.

Her firing had stunned co-workers, but the network’s decision to hold on to her personal materials, along with her work laptop where she may have other confidential info, has left many staffers shaken, according to insiders.

“It’s so extraordinary,” a source familiar with the situation told The Post, noting that the files — which are presumptively now the property of CBS News — most likely contain confidential material from Herridge’s stints at both Fox and CBS.

The source said the network boxed up all her personal belongings except for Herridge’s notes and files and informed her that it would decide what — if anything — would be returned to her.

https://nypost.com/2024/02/22/business/cbs-seizes-confidential-files-of-fired-reporter-pursuing-hunter-biden-laptop-story-in-unprecedented/?utm_medium=social&utm_campaign=nypost&utm_source=twitter

Terrorist Authority daily: For saying Israel is copying Hitler, Brazil’s president is an “international hero”

Official PA daily:

  • “[Brazilian President] Da Silva, [the] international hero… said: ‘What is happening to the Palestinian people in the Gaza Strip has not happened in any other period of history. Actually, it did in fact happen, when Hitler decided to kill the Jews.’ These words, which shine with power like the sun, …reflected the truth and embodied the spirit of justice.”
  • “The ethnic cleansing state (i.e., Israel)… committed thousands of massacres and holocausts, more shocking and catastrophic than what happened in the world wars and in all the wars throughout all the periods of history”
  • “Latin America [countries]… were burned by the fire and barbarism of the American Yankee and other European colonialists”

In response to the Nazi-like atrocities of Hamas on Oct 7 that were celebrated by Fatah, the PA media, and the Palestinian population, the Palestinian Authority has increased its demonization of Israelis, comparing them regularly to Nazis.

Accordingly, when Brazilian President Luiz Inácio da Silva said that Israel was committing atrocities that haven’t been seen since Hitler killed the Jews, the Palestinian Authority was quick to praise their new ally in hate-speech. The official PA daily published a column by its regular columnist, a former advisor to PA Prime Minister Salam Fayyad, praising Da Silva as an “international hero” and then added to the demonization that Israel:

“committed thousands of massacres and holocausts, more shocking and catastrophic than what happened in the world wars and in all the wars throughout all the periods of history.”

Once he was celebrating hatred, the columnist decided to demonize the United States as well referring to American activities in Latin America and around the world as the “barbarism of the American Yankee.”

The following is from the column in the official PA daily:

Headline: “Da Silva, international hero”

“Brazilian President Luiz Inácio [Lula] da Silva is an important upstanding figure in the field of defending the peoples’ right to freedom, independence, and sovereignty over their homelands. He is similar to all the international heroes from Latin America and from all the continents which were burned by the fire and barbarism of the American Yankee and other European colonialists. They were not satisfied to merely liberate their lands from subordination [to colonialist states], but rather they drew the sword of justice and full support for the nations who are being oppressed and exploited by the US and its allies from the imperialist West.

Brazilian President da Silva drew the lance of justice and aimed it at the bastard Israeli state and its political and military leaders.

On Sunday, Feb. 18, [2024,] …during a meeting with journalists, he accused Israel of committing ‘annihilation’ against the Palestinian civilians in the Gaza Strip and compared what the Hebrew state (i.e., Israel) is committing to the Holocaust of the Jews during World War II. Lula da Silva… said: ‘What is happening to the Palestinian people in the Gaza Strip has not happened in any other period of history. Actually, it did in fact happen, when Hitler decided to kill the Jews.’

These words, which shine with power like the sun, …reflected the truth and embodied the spirit of justice… They aroused the anger and fury of the Israeli annihilation war government, because they… stripped the functional ethnic cleansing state (i.e., Israel) of the fig leaf that has hidden its shame since it arose on the ruins of the Palestinian people’s Nakba (i.e., catastrophe) in 1948 and committed thousands of massacres and holocausts, more shocking and catastrophic than what happened in the world wars and in all the wars throughout all the periods of history…

Many thanks to Brazilian President Luiz Inácio da Silva, one of the international heroes who are defending the Palestinian right and international justice.”

[Omar Hilmi Al-Ghoul, Official PA daily Al-Hayat Al-Jadida, Feb. 20, 2024]

https://palwatch.org/page/34958

Conference in Istanbul features Hamas, PIJ Terrorists, antisemitic authors, and Judenrat Neturei Karta

A conference titled “Freedom for Palestine” was hosted last month in Istanbul, hosted by the Al-Quds International Institute (QII), a designated organization fundraising for Hamas; the International Union of Muslim Scholars described as “the supreme authority of the Muslim Brotherhood,” and reportedly also the Doha International Center for Interfaith Dialogue.

This is in addition to other religious organizations and political parties, including the South African branch of QII. One of the conference’s stated goals was to work to raise again the incriminating accusation that Zionism is a racist ideology similar to the 1975 UN resolution 3379 rebuked in 1991.

Speakers at the event included Hamas leaders Ismail Haniyeh (through a video call), Mousa Abu Marzouk, and Basem Naim; Mohammad al-Hindi, No.2 at the Palestinian Islamic Jihad terror group; Mandla Mandela, grandson of Nelson Mandela; Sheikh Tareq Al-Suweidan, a notorious Kuwaiti cleric and author of a blatantly antisemitic book titled The Jews: The Illustrated Encyclopedia; Turkish and Brazilian parliament members; and others.

https://www.jpost.com/middle-east/article-787781

Kayne West’s sampling of icons like Donna Summer and Ozzy Osbourne is a ‘clear-cut’ case of copyright infringement, legal experts say

Kanye West could be in legal hot water if he really did take all those samples without permission to use in his latest album, “Vultures 1,” with Ty Dolla $ign.

West — also known by his stage name Ye — was accused by original Black Sabbath vocalist Ozzy Osbourne and the estate of the late disco icon Donna Summer of using samples of their music even after both publicly said that they had denied giving the rapper permission.

Summer’s estate said last week that West rerecorded and changed the lyrics to her 1977 hit tune “I Feel Love” in his track “Good (Don’t Die)” and accused the rapper of copyright infringement in a post on Instagram.

“Kanye West… asked permission to use Donna Summer’s song I Feel Love, he was denied… he changed the words, had someone re sing it or used AI but it’s I Feel Love… copyright infringement!!!” Billboard reported the post, which was added to the story of Donna Summer‘s estate account and disappeared after 24 hours, read.

And Osbourne said West swiped an instrumental clip of the band performing “Iron Man” in 1983 and used it in one of his songs at a listening party. Osbourne wrote on X that he refused Ye permission to use the song because “HE IS AN ANTISEMITE AND HAS CAUSED UNTOLD HEARTACHE TO MANY.”

Representatives for Osbourne and Summer did not immediately respond to Business Insider’s request for comment.

https://www.businessinsider.com/kayne-west-could-face-legal-trouble-over-black-sabbath-samples-2024-2

TRAVIS SCOTT SUED FOR ALLEGED COPYRIGHT INFRINGEMENT OVER ‘STARGAZING’ AND ‘TIL FURTHER NOTICE’

Hip-hop artist Travis Scott has been hit with a lawsuit alleging copyright infringement involving his tracks Stargazing and Til Further Notice.

The lawsuit was brought by Dion Norman, a New Orleans-based songwriter, CEO of Free World Entertainment and a journalist at The Heat Magazine, along with Derrick “Mellow Fellow” Ordogne, a rap producer who was primarily active in the 1990s.

According to a complaint filed with the US District Court for Eastern District of Louisiana on January 25, Scott’s 2018 track Stargazing and his 2023 track Til Further Notice both used unauthorized samples of Bitches (Reply), a track that Norman and Ordogne wrote and recorded in 1991, and which appeared on DJ Jimi’s 1992 album It’s Jimi.

Sony Music Entertainment is also named as a defendant in the suit, as are producers Metro Boomin and James Blake.

The lawsuit alleges that a vocalization of the words “alright, alright, alright” that can be heard at the start of Bitches (Reply) was sampled at six points in Til Further Notice, and also appeared in Stargazing.

“Defendants admitted to the unauthorized use of Bitches (Reply) to the plaintiffs when [they] had a sample clearance vendor contact the plaintiffs about clearing the subject sample and interpolated use after the release of [Scott’s] album, Utopia,” claims the complaint, which can be read in full here.

Til Further Notice is the 19th track on Scott’s album Utopia, which was released in July 2023 by Cactus Jack Records, the label owned by Travis Scott (whose legal name is Jacques Webster II) along with Epic Records, which is owned by Sony Music.

The track has amassed nearly 93 million listens on Spotify, and has been played 6.9 million times on YouTube.

Metro Boomin, whose legal name is Leland Tyler Wayne, is listed as a producer on the track, as is singer/producer James Blake (Litherland), both of whom are named as defendants in the lawsuit.

Stargazing was a single off Scott’s 2018 album Astroworld. The track has amassed 709 million streams on Spotify, and various versions of it on YouTube collectively have more than 140 million plays.

Bitches (Reply) can be heard here.

Terrorist Imam in Australia: ‘Jihad is the Only Solution with Infidels. Islam was Created to Reign Supreme over All’

In a February 9, 2024 Friday sermon by Australian Imam Sheikh Abdul Salam Zoud at Masjid As-Sunnah Lakemba, Sydney, which was streamed live on Facebook, Zoud praised Jihad and Hamas. He said that the Prophet Muhammad and the Righteous Caliphs did not conquer the world by peaceful means, negotiations, concessions, or understandings, rather they conquered it by Jihad for the sake of Allah. Zoud continued to say that the goal of Jihad is not to kill people, but to spread Islam. He said that Jihad is the “only solution” when it comes to the infields and that Palestine will only be restored by Jihad.

Zoud asked: “When has our nation ever reached such power by any means other than Jihad?” Sheikh Abdul Salam Zoud is the director of Awqaf Australia charity and in the past, he was deputy to Sheikh Mohammad Omran, leader of Ahlus Sunnah Wal Jamaah (ASJW) in Australia, who has been linked to Al-Qaeda. Zoud has met with several terror operatives and individuals linked with terrorist activity and Al-Qaeda. He was named as a recruiter for Al-Qaeda, but he has denied these allegations. For more about ASWJ Australia, see MEMRTIV clips Nos. 7133708867906504, and Inquiry & Analysis Series No. 973.

Abdul Salam Zoud: “There is no solution other than Jihad for the sake of Allah. Jihad continues until Judgement Day. The Prophet Muhammad, the Righteous Caliphs, the Umayyad Caliphate, the Abbasid Caliphate – none of them conquered the world by peaceful means, negotiations, concessions, or understandings. They conquered it through Jihad for the sake of Allah. The goal of Jihad for the sake of Allah is not to kill people and take over their lands. Rather, the goal of Jihad is to remove obstacles before the spreading and rule of Islam.

https://www.memri.org/tv/friday-sermon-ausralia-imam-abdul-salam-zoud-prophet-muhammad-conquered-world-jihad-not-peaceful-means-infidels-palestine-islam

MoT #555 Crime Report: White Portland Racist Brutally Attacks Black Man

Biology Denying MS Society Fires 90-Year-Old Volunteer for Not Stating Her Pronouns

When an organization focuses on DEI, it jettisons whatever its mission used to be in favor of imposing its ideology. That’s what has happened to innumerable corporations and now to the MS Society which is no longer fighting to eliminate multiple sclerosis, but instead fighting to eliminate women by forcing everyone to broadcast their pronouns. The pronoun plague is not about making the tiny percentage of mentally ill men who believe they’re women feel included, but to single out and punish people who aren’t going along with the program.

At the MS Society, Fran Itkoff, a 90-year-old volunteer, didn’t understand the whole pronoun business and her difficulty understanding was treated as a hate crime.

Fran Itkoff, the 90-year-old leader of the Lakewood/Long Beach Self-Help Group, was told her organization would no longer be affiliated with the National MS Society after her “failure to abide by our Diversity, Equity, and Inclusion guidelines.”

Itkoff, who has won multiple awards for her and her husband’s work with the organization, became confused one day after she saw several people sign their emails and letters with their names along with their chosen pronouns.

“I was confused, I didn’t know what it was, what it meant,” Itkoff told the social media account Libs of TikTok. “I’ve seen it on a couple of letters that had come in after the person’s name they had the pronouns, but I didn’t know what that meant.”

As Itkoff noticed the pronouns more often, she asked one of the society’s representatives what it meant.

The nonagenarian, however, did not get a clear answer.

“Finally I was talking to her and thought I would ask ‘what does it mean’ and let her tell me,” Itkoff said. “She said that it meant ‘they were all-inclusive,’ which didn’t make sense to me.”

Itkoff was confused about how the “she/her” pronouns could be labeled as “all-inclusive” if it was referring to females and not males.

A few days after the conversation, on a Friday at 4:58 p.m. Itkoff received her “pink slip.”

“At the end of the day, end of the week, I got an email from her saying ‘they were sorry, but they had to ask me to step down as a volunteer for the MS society,” Itkoff claimed.

“The verbiage she said was you didn’t abide by their diversity, equity and inclusion, so they had to ask her to step down and she can’t be a part of the MS society as a volunteer.” Itkoff’s daughter Elle Hamilton said.

Hamilton pointed out the irony in the statement as they were excluding a “90-year-old disabled woman who volunteered for over 60 years.”

It’s not really irony because the MS Society is no longer dedicated to fighting MS, it’s dedicated to DEI.

Someone on Reddit posted that, “my aunt in LB had MS for years. She passed a few years back. Fran had been the point of contact ever since I can remember (in my mid 30s now). She would regularly send out newsletters and event / meeting invites for the society. It was honestly pretty cute – Looks like she just printed the newsletters and such off her home computer and mailed them out. Obvious labor of love…

I definitely believe everyone deserves to live their truth and be happy in their own skin but I wonder if cancelling 90 year old disabled volunteers is really worth it. I know I’m biased here but Idk – just seems overkill.

In its statement on the purging of a 90-year-old volunteer, the MS Society states

“As an organization, we firmly believe that we best serve and support those living with MS by creating a space that welcomes all… Fran Itkoff, was asked to step away from her role because of statements that were viewed as not aligning with our policy of inclusion.”

The actual reality is that the MS Society is focused on DEI, the I stands for Inclusion, and, in typical woke fashion, it claims that it can best help those with MS by adopting DEI. Likewise woke military brass claim that they can best win wars by adopting DEI and churches claim that they can best practice religion through DEI.

What all of that really means is that these are woke cults that have only one true mission… politics.

The MS Society states that, “diversity, equity and inclusion are core to who we are as an organization.”

That means its mission is no longer core, only DEI is.

If you doubt that, look at the capsule bio for CEO Cynthia Zagieboylo.

Cyndi ensures we live our Cultural Values to inspire confidence so that people engage with the Society and take action. We demonstrate our commitment to ensure diversity, equity and inclusion in everything we do. We are a financially stable organization, able to make long term plans and we align resources to achieve sustainable, scalable impact. We measure our impact, and we innovate for maximum progress.

Apart from all the corpspeak gibberish, DEI is there right at the beginning.

And then the Chief Engagement Officer.

Lisa ensures we are an inclusive organization with a welcoming community presence, robust volunteer engagement and strong governance. We attract a diverse workforce with a mission-focused, outcomes-oriented culture.

MS is hardly even mentioned. DEI is front and center.

The MS Society has succumbed to something even worse than multiple sclerosis. DEI.

The good news is there’s a secure, but it will require extensive organizational surgery.

The Great Electric Vehicle Con

Led by an elderly man experiencing cognitive decline, the Biden administration has launched a strident effort to promote electric vehicle (E.V.) sales.  This push is part of a globalist climate change agenda that ignores the unreliability of renewable energy during winter storms and heat waves.  The unreliability of green energy sources was illustrated by the 2021 winter storm in Texas, which paralyzed the state’s wind energy system — the second largest energy source — leaving some Texans unable to flush their toilets or power their electric vehicles.  Now E.V. sales, for a variety of reasons, are deservedly losing momentum among  U.S. buyers.  

The decline in sales persists despite three critical factors favoring non–fossil fuel energy generation: (1) the world’s rising investment of billions of dollars in E.V. technology; (2) rising tailpipe emissions regulations; (3) apocalyptic claims tied to climate change that are part of the Western world’s war on fossil fuels, gas stoves, and homes heated by natural gas.  While American electric vehicle sales rose rapidly during the first eleven months of 2023, they plateaued in November.  

In other words, even though E.V. sales initially cannibalized the market for gas and diesel vehicles during 2022 and 2023 as financial analysts promoted exchange-traded funds (ETFs) in E.V.s as part of an investment scheme to transform both the economy and energy production, these speculative chickens have now come home to roost.

Two statistics highlight this outcome.  First, the empirical evidence shows that luxury E.V.s depreciate faster than vehicles powered by internal combustion engines.  Second, Ford Motor Company recently revealed that it incurred a loss of $4.7 billion on its electric vehicles.

On the other hand, auto firms that have refused to embrace E.V.s have outperformed those that promote E.V.s.  This past week, for instance, Toyota, which has stressed hybrid vehicles instead of E.V.s, reported healthy profits.  At the same time, electric models sit on dealership lots.  This trend mirrors the fact that more and more European governments have begun to retreat from their “hard promises” to wean their economies off fossil fuels as green energy policies have proven to be economic and financial failures.

https://www.americanthinker.com/articles/2024/02/the_great_electric_vehicle_con.html

JPMorgan, State Street, and BlackRock Abandon ESG Group Climate Action 100+

JPMorgan (JPMAM), State Street (SSGA), and BlackRock dropped out of Climate Action 100+, the controversial ESG (Environmental Social Governance) group that pushes companies to address climate change.

Leslie has covered the ESG/bank situation many times, especially concerning BlackRock. That company is the last of the top five managers in the group.

The Financial Times said Climate Action “challenges” these “companies to reduce their carbon footprint.”

I call it bullying:

SSGA said Climate Action’s latest corporate engagement requirements had gone too far. These “phase 2” requirements, announced last year, shifted from pressuring companies on climate disclosures to pushing them to actively reduce greenhouse gas emissions.

“SSGA has concluded the enhanced Climate Action 100+ phase 2 requirements for signatories are not consistent with our independent approach to proxy voting and portfolio company engagement,” SSGA said in a statement.

JPMAM said it had made a “significant investment” in its own stewardship team and corporate engagement. “Given these strengths and the evolution of its own stewardship capabilities, JPMAM has determined that it will no longer participate in Climate Action 100+ engagements.”

Republicans have been putting pressure on the companies and Climate Action 100+ to produce communications and documents to determine any violations of antitrust laws.

House Judiciary Committee Chairman Jim Jordan subpoenaed Ceres after the company only handed over 299 documents.

But it also goes to the state level:

Texas, the leading US oil-producing state, has declared Climate Action 100+ to be anti-oil and blocked financial companies, including BlackRock, from doing business with the government.

Oklahoma, another oil producer, banned JPMorgan, BlackRock and others from doing business with the state in 2023.

Agricultural officials from 12 states launched probes into ESG investing practices at some big banks. The officials worry that the involvement could “impact food availability, lead to price increases, limit credit access for farmers, and have broad negative economic consequences.”

Tennessee Attorney General Jonathan Skrmetti sued BlackRock, alleging the firm harmed consumers through ESG.

“We allege that BlackRock’s inconsistent statements about its investment strategies deprived consumers of the ability to make an informed choice,” explained Skrmetti.

Leslie also blogged how Europe has cooled its attitude towards ESG strategies due to energy reality

https://legalinsurrection.com/2024/02/jpmorgan-state-street-and-blackrock-abandon-esg-group-climate-action-100