January 7, 2025 - Hip Hop Caucus

WASHINGTON — Today, Hip Hop Caucus President & CEO Rev Yearwood Jr. issued the following statement in response to the cancellation of the proposed Mitsubishi Chemical Group’s methyl methacrylate (MMA) monomer plant in Geismar, Louisiana:

“The cancellation of Mitsubishi Chemical Group’s plan to construct the world’s largest Methyl Methacrylate (MMA) facility in Louisiana’s Cancer Alley is a testament to the tireless advocacy and collective power of community members, organizers and supportive partners. Corporate interests and profit potential should never be prioritized above the health and safety of people and the environment. This momentous win is a reflection of the will and tenacity of the people, and is a victory for us all.

Frontline communities, including those in the plant’s proposed location in Ascension Parish, face concentrated pollution and repeat exposure to fossil fuels, which can lead to severe and long-term health effects, like respiratory disorders, stroke, and cancer. Residents have long made their concerns about toxic MMA production known to officials.

It is our aim that communities of color, like those in Ascension Parish, no longer bear the brunt of environmental neglect, negative health outcomes, and corporate exploitation. Through our work with Bloomberg Philanthropies’ Beyond Petrochemicals campaign and our allies, we will continue the fight to stop further petrochemical expansion and advocate for a just, sustainable future where we all thrive.”

Hip Hop Caucus helped amplify Louisiana residents’ efforts through media engagement, video storytelling, and collecting more than 100 letters of opposition during the proposed facility’s public comment period.

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WASHINGTON — Today, Hip Hop Caucus’ Economic Justice, Justice Paid In Full Campaigns Director Stephone Coward II issued the following statement in response several U.S. banks exiting the Net-Zero Banking Alliance:

“Hip Hop Caucus is disappointed by the recent decisions of several major U.S. banks—Goldman Sachs, Wells Fargo, Citigroup, Bank of America, and Morgan Stanley—to withdraw from the Net-Zero Banking Alliance (NZBA), an important global effort aimed at aligning the financial sector with the goals of the Paris Climate Agreement and achieving net-zero greenhouse gas emissions by 2050. Banks and investment firms are key actors in both financing fossil fuel extraction and transitioning to renewable energy, and this move undermines the collective global progress to address the climate crisis.

While economic uncertainties and political shifts understandably create pressures and concern for financial institutions, we need bold financial actors who are willing to ride the waves of change and take urgent action to support a global transition to a net-zero economy.

The power of publicly-aligned financial institutions in shaping climate outcomes cannot be overstated. Through Hip Hop Caucus’ Bank Black & Green Campaign, we are connecting the dots between economic justice, climate action, and racial justice with Black-owned banks to deploy capital to frontline communities and divest from the fossil fuel industry and mass incarceration. If banks, asset managers and investment firms are serious about addressing our growing climate challenges, they must go beyond token commitments and be held accountable for their actions. Hip Hop Caucus will continue to support investments in a just, sustainable future, and aim to hold financial institutions accountable to the communities they serve.”

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Day: January 7, 2025

Hip Hop Caucus Celebrates Organizing Victory in Cancellation of Mitsubishi Chemical Plant in Louisiana

Hip Hop Caucus Statement on Banks Exiting the Net-Zero Banking Alliance