Home
/
RELIGION & LIBERTY ONLINE
/
How Far Does Faith-Based ‘Shareholder Right to Know’ Go?
How Far Does Faith-Based ‘Shareholder Right to Know’ Go?
Feb 1, 2026 11:58 AM

On January 31, the Interfaith Center on Corporate Responsibility issued a press release, announcing the organization’s “2013 Proxy Resolutions and Voting Guide.” A quick read of the release and ancillary materials, however, reveals that these resolutions have very little to do with issues of religious faith and everything to do with the progressive political agenda.

The ICCR guide “features 180 resolutions filed at panies” that call on shareholders to “promote corporate responsibility by voting their proxies in support of investor proposals that advance social, economic and environmental justice.”

The ICCR boasts that “nearly one third” of this year’s resolutions (52) focus on lobbying and political spending, with the remainder aimed at “health care, financial and environmental reform.” The release ominously asserts: “Shareholders have a right to know pany resources are being used to impact elections and public policy, including regulatory legislation.”

Whatsoever the ICCR resolutions have to do with the respective tenets of their member denominations is left to the readers’ imagination.

Under the guise of faith-based “economic and social justice,” however, the ICCR is attempting to prevent corporations from engaging in entirely legal and ethical efforts to work on their shareholders’ and customers’ behalf. As noted previously, initiatives such as the ICCR’s are an effort to force corporations to disclose efforts on their part to ensure corporate sustainability and shareholder profitability – endeavors protected by the U.S. Supreme Court’s Citizens United ruling.

Forcing corporations to disclose donations to the American Legislative Exchange Council, lobbying firms, think tanks and trade groups, for example, flies in the face of U.S. law, and hinders these groups from exercising constitutionally guaranteed rights to work for the benefit of the corporations who create jobs and provide goods and services for the world’s citizenry.

All this presupposes corporations and the wealth, jobs, goods and services they generate are an inherent evil if found lacking the ICCR’s views on social, economic and environmental justice. Nothing could be further from the truth. Aside from a few admittedly bad actors, corporations strive to benefit society as a whole – failure to do so would assuredly result in panies winding up atop the dustbin of entrepreneurial history.

In any event, steering corporate policies to reflect ICCR’s progressive agenda would result in more of a secular rather than a spiritual victory. Such efforts, in Competitive Enterprise Institute President and Co-Founder Fred L. Smith’s words, have a tendency to transform private corporations into public utilities by forcing them “to perform whatever duties are politically attractive at any one time … To ‘socialize’ this process is to reduce the ability of individuals to advance their goals, placing the values of politicians as paramount.”

Hamstringing pany’s efforts to pursue less egregious regulatory enforcement through lobbying or draft legislation, for example, establishes more government authority not necessarily in the best interests of the corporation in question. Nor is it likely that politicians and bureaucrats understand fully the unanticipated negative consequences of realizing their goals. As Smith noted: “The corporation is an extremely valuable way of organizing large numbers of people to produce goods and services efficiently—that is, to create wealth. That wealth then flows into the hands of shareholders, workers, customers, and suppliers, who are then empowered to advance their own individual goals and values.”

The ICCR would do far better by following real religious authority rather than submitting to trendy secular tracts on what constitutes economic, environmental and social justice. Two papal encyclicals e to mind: Quadragesimo anno (Pius XI, 1931) and Centesimus annus (John Paul II, 1991).

While both works identify the proper societal role panies as working for mon good, they also acknowledge the necessity of the profit motive for all involved. Nowhere in either document, however, do the authors make a case for transparency of how corporations advocate in best interests of their shareholders and customers.

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
Pope Francis’ Cardinal-shaming Mini-popemobile
A couple of months ago I teased Pope Francis engaging in a “war on the Vatican’s luxury cars” while driving one of the greatest luxury cars of all time — the Popemobile. Although he probably won’t be able to give up his 160 mph, armor-plated, bullet-proof sedia gestatoria anytime soon, he’s make a bold, symbolic point with the latest addition to his fleet: a 1984 Renault 4. Vatican spokesman, the Rev. Ciro Benedettini, says Francis accepted the 1984 Renault 4,...
Sex-Selective Abortions Linked To Abuse Of Females
The U.S. House Foreign Affairs mittee held a hearing last week on India’s missing girls. In today’s Washington Times, Chris Smith, Republican member of the U.S. House of Representatives from New Jersey and chair of the hearing, discusses the connection between sex-selective abortions and India’s massive problem with physical and sexual abuse of females. The roots of the present problem lie not only with cultural factors, such as the demand for dowries paid by the bride’s family, but also misbegotten...
Quebec’s Religious Symbol Ban and the Myth of Religious Neutrality
Last week the ruling party of the province of Quebec, Parti Québécois, unveiled a new charter which would prohibit public employees from wearing overt religious garb. The document states: We propose to prohibit the wearing of overt and conspicuous religious symbols by state personnel in carrying out their duties. This restriction would reflect the state’s neutrality. Included in their examples of “conspicuous signs would not be allowed to state personnel” is the dastar, the turban worn by Sikh men. The...
Support for Obamacare Dwindling
Obamacare, the popular name for the Affordable Health Care Act, continues to find opposition from both individuals and states. The act is scheduled to take effect on October 1, 2013 for most of the country, but a USA Today/Pew Research poll finds that 53 percent of Americans polled oppose Obamacare. The numbers are even lower when one accounts for political parties. Overall, just 13% of Republicans and Republican-leaning independents approve of the law while 85% disapprove. Fewer than half of...
HBCU Funding: A Tale of Executive Orders
One of the things I never learned in my U.S. government courses in high school was just how quickly government agencies and programs grow without undergoing Congressional vetting. For example, I recently discovered that there exists a federally-funded White House Initiative on Historically Black Colleges and Universities (HBCU). When did that happen? How did that happen? In fact, a few days ago, the White House announced changes in the leadership of this initiative. President Obama names two dynamic new leaders...
Friday Night Videos 9.13.13
Giving (Via: Neatorama) What Surfing Can Teach You about Ownership (Via: Values & Capitalism) John Piper on the Prosperity Gospel (Via: Justin Taylor) ...
Audio: Samuel Gregg Discusses Tea Party Catholic
Acton’s Director of Research, Samuel Gregg, has begun making the radio rounds in support of his soon-to-be-released book Tea Party Catholic: The Catholic Case for Limited Government, a Free Economy, and Human Flourishing, talking extensively about the intersection between support for limited government and Catholic thought. Here’s a roundup of recent interviews. First of all, here’s Sam discussing the book with Glen Biegel on 700 KBYR in Anchorage, Alaska last Thursday: Also on Thursday, Sam talked with Chuck Wilder of...
Poland Attempts To Reduce National Debt By Dipping Into Pension Funds
Poland’s prime minister, Donald Tusk, announced Wednesday that the government would attempt to cut government debt by taking money from its citizens’ private pension funds. Poland currently has a two-fold pension system: mandatory contributions are made to the state pension fund and then to private funds. It is the state funds, known as ZUS, that the Polish government plans to “transfer” money from. According to Reuters: …Prime Minister Donald Tusk said private funds within the state-guaranteed system would have their...
Piper: ‘Work Is a Glorious Thing’
At Desiring God, John Piper explains how both the act and product of work are blessings, and that the God-designed essence of work is creativity — “not aimless, random doing, but creative, productive doing.” In addition to avoiding the hump of idleness, this means being ever diligent, discerning, obedient, and energetic in the work of our hands: When the book of Proverbs tells us to go to the ant and learn how to work hard and work smart (Proverbs 6:6–11),...
Animal Sacrifice Powered Ancient Jerusalem’s Economy
Everyone knows the story about Jesus entering the Temple in Jerusalem and overturning the tables of the moneychangers. But what most people forget is that he also overturned the “benches of those selling doves.” While there was likely a lucrative business in changing foreign currency into Hebrew money (the only form of acceptable payment for the Temple tax), the selling of animals for sacrifice was probably the true Big Business in the city. A study published in the September issue...
Related Classification
Copyright 2023-2026 - www.mreligion.com All Rights Reserved