Home
/
RELIGION & LIBERTY ONLINE
/
Corporate God-Flies Fail Miserably on 2015 Proxy Resolutions
Corporate God-Flies Fail Miserably on 2015 Proxy Resolutions
Jan 11, 2026 12:28 PM

The Manhattan Institute’s latest Proxy Monitor hit laptops this week, revealing the nature and source of the 2015 proxy resolutions. It seems the corporate “God-flies” at religious shareholder organizations such as As You Sow and the Interfaith Center on Corporate Responsibility account for 29 percent of all shareholder resolutions submitted to the nation’s top 250 publically panies. This percentage is second only to the corporate gadflies – identified by the report’s author, James R. Copland, as “individuals and their family members who repeatedly mon shareholder proposals at panies” – and two percentage points ahead of labor-affiliated investors.

Copland reports the number of shareholder proposals aimed at requiring disclosure panies’ political spending has decreased, and those proposals that were submitted in 2015 met the same fate as in previous years – defeated by wide majorities:

Whatever the reason for the drop in the number of shareholder proposals related to political spending, support for these proposals remains tepid. No such proposal has received majority shareholder support over board opposition in the ten years covered in the ProxyMonitor.org database.

To date in 2015, shareholder support for these proposals has averaged 22 percent, in line with historical trends. Although this percentage is up marginally from 2014, when such proposals received just over 20 percent support, the variation is largely attributable to a different mix of proposal types and sponsors than to a shift in shareholder support. In 2014, six proposals called for either a prohibition on corporate political spending or a 75-percent shareholder vote to authorize corporate political spending—proposals which, in contrast to proposals oriented only around disclosure, receive low-single-digit support. No such proposals have been introduced in 2015. In addition, in 2014, seven shareholder proposals were sponsored by individuals, with varying provisions; these individual-sponsored proposals received, on average, the support of less than 10 percent of shareholders. To date, there have been no individual-backed shareholder proposals relating to political spending or lobbying introduced at a Fortune pany in 2015.

Despite the significant drop in shareholder proposals pertaining to political spending, ICCR reports 58 panies it targeted with resolutions intended to curtail or require public reporting of lobbying efforts and political contributions. For its part, AYS thumps its collective chest:

“The flood of corporate political activity proposals continues unabated, and not just about elections,” said Heidi Welsh, Executive Director of the Sustainable Investments Institute (Si2) and co-author of the report [“Proxy Preview”]. “A broad coalition of investors panies to tell stockholders and the public more about so-called ‘dark money’ spent both in campaigns and on lobbying by groups that use corporate money and don’t say where es from,” added Welsh.

In other words, AYS and ICCR continue to waste the time and money of corporations in which they invest year-after-year with bothersome resolutions that stand no chance whatsoever of gaining a majority of votes. This works as well to the detriment of other shareholders who simply want to recognize a reasonable return on their investments. This arrogant political fervor isn’t supposed to be how Christians are supposed to treat one another, much less nuns, priests, clergy and other religious.

Comments
Welcome to mreligion comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
RELIGION & LIBERTY ONLINE
Novak Award Winner reflects on influences of Benedict, Michael Novak
Romecontributorto ZENIT, Stefanie DeAngelo, recently interviewed the Acton Institute’s 2012 Novak Award winner, Professor Giovanni Patriarca. During the interview Prof. Patriarca speaks candidly about some of his academic influences, including Michael Novak and Benedict XVI. He also offers his reasons for hope in ing the prolonged global economic crisis. Some Contemporary Reflections: An Itinerary from Novak to Benedict XVI by Stefanie DeAngelo 2012 Novak Award Winner Prof. Giovanni Patriarca ZENIT: You have recently received the Novak Award. What are some...
Obama Administration’s Misjudgement of the Nation’s Conscience
Currently, there are forty cases against the Obamacare HHS mandate. The Affordable Care Act of 2010 requires employers to provide, as employee health care, “preventative services” such as abortion and sterilization. John Daniel Davidson, in First Things, says that the president and his administration have grossly misjudged this entire situation. In Davidson’s view, the administration “in their conceit” seemed to think that millions of Americans would simply put aside their deeply held religious and moral convictions and play along with...
The Catholicity of Subsidiarity
Earlier this week we noted that Patrick Brennan posted a paper, “Subsidiarity in the Tradition of Catholic Social Doctrine,” which unpacks some of the recent background and implications for the use of the principle in Catholic social thought. As Brennan observes, “Although present in germ from the first Christian century, Catholic social thought began to emerge as a unified body of doctrine in the nineteenth century….” Brennan goes on to highlight the particularly Thomistic roots of the doctrine of subsidiarity,...
Can Capital Markets Be Moral?
Can capital markets be moral? At The Veritas Forum at Cambridge University, Rev. Richard Higginson explains how we should rethink our capital system to avoid problems like the financial crisis. His five part plan includes: 1. Rediscovering capital virtues like moderation and prudence, 2. Adopting sound policy like reducing debt and spreading risk, 3. Reviewing the purposes and scrutinizing the practices of banking by a reputable international body, 4. Continuing to invest and give as a sign of hope, and...
Interview: Rev. Sirico on the Market Economy and the Moral Life
Rev. Robert Sirico, author of “Defending the Free Market: The Moral Case for a Free Economy,” appears at a Rome press conference for his book. The Catholic News Agency recently interviewed Acton’s president Rev. Robert Sirico during a press conference held last week in Rome for Vatican journalists. The local media were introduced to his new book, “Defending the Free Market: the Moral Case for a Free Economy.” In the CNA article “Fixing economic crisis requires financial and moral truth,...
The FAQs: What is the Fiscal Cliff?
What is the “fiscal cliff”? The term “fiscal cliff”, which is believed to have originated in Congressional testimony by Federal Reserve Chairman Ben Bernanke, refers to the substantial changes to tax and spending policies that are scheduled to automatically take effect in January 2013. The changes are intended to significantly reduce the federal budget deficit. What are the tax and spending policies that will change? Several major tax provisions are set to expire at year’s end: The 2001/2003 Bush tax...
The Pin that Might Pop the Higher-Ed Bubble
mented last week on the “textbook bubble” (here) and mented in the past on the “higher-ed bubble” and the character of American education more generally (see here, here, and here). To briefly summarize, over the last few decades the quality of higher education has diminished while the cost and the number of people receiving college degrees has increased. The cost is being paid for, in large part, through government subsidized loans. But with the drop in quality and increase in...
Novak Award Winner Assesses Spiritual, Vocational Crisis of Economy
Acton President Rev. Robert Sirico presents the 2012 Novak Award to Prof. Giovanni Patriarca An overflow crowd, which included two current and one former rector of Rome’s pontifical universities, enthusiastically turned out on November 29 to support the winner of the Acton Institute’s Novak Award. Students, professors, journalists, entrepreneurs and politicians alike packed the Aula delle Tesi auditorium at the Pontifical University of Thomas Aquinas to hear Prof. Giovanni Patriarca deliver his lecture “Against Apathy: Reconstruction of a Cultural Identity”....
St. John of Damascus in the History of Liberty
Today (Dec. 4) memorated an important, though sometimes little-known, saint: St. John of Damascus. Not only is he important to Church history as a theologian, hymnographer, liturgist, and defender of Orthodoxy, but he is also important, I believe, to the history of liberty. In a series of decrees from 726-729, the Roman (Byzantine) emperor Leo III the Isaurian declared that the making and veneration of religious icons, such as the one to the right, be banned as idolatrous and that...
Subsidiarity in the Tradition of Catholic Social Doctrine
Patrick McKinley Brennan, a professor at Villanova University School of Law, has a new paper that considers the place subsidiarity in the tradition of Catholic Social Doctrine: Subsidiarity is often described as a norm calling for the devolution of power or for performing social functions at the lowest possible level. In Catholic social doctrine, it is neither. Subsidiarity is the fixed and immovable ontological principle according to which mon good is to be achieved through a plurality of social forms....
Related Classification
Copyright 2023-2026 - www.mreligion.com All Rights Reserved