Home
/
RELIGION & LIBERTY ONLINE
/
Proxy Shareholders Losing Their Religion
Proxy Shareholders Losing Their Religion
Jun 11, 2026 2:41 PM

Perhaps nothing invigorates the left more than climate change and the exercise of free speech in the political arena – imagine bined dyspepsia when these two issues converge. This is what is occurring with regrettable frequency as Walden Asset Management, Ceres and the Interfaith Council on Corporate Relations have joined a rogue’s gallery of progressive organizations issuing proxy shareholder resolutions urging a variety panies to disassociate from the American Legislative Exchange Council.

On June 25, Ernst & Young issued a report titled “Key Developments of the 2013 Proxy Season.” The document states: “Shareholder influence in the boardroom is growing. Investors are using proxy voting and shareholder proposals to challenge a wide spectrum of corporate governance practices – from board diversity, to focus on environmental topics, to transparency around political spending.”

We know from previous reports these past few months that many religious investment groups have mounted the barricades of proxy investment activism to forward progressive causes. And their fingerprints smudge the resolutions submitted to businesses to further agendas far removed from spiritual faith whilst wedded to the latest causes celebre of the left, including eliminating corporate funding of ALEC.

Why target ALEC? According to PRWatch:

“Timothy Smith of Walden Asset Management, who is involved with the shareholder campaigns, told CMD [The Center for Media and Democracy, the parent organization of both PRWatch and SourceWatch], ‘ALEC’s partnership with the climate-denying Heartland Institute to challenge renewable energy standards at the state level has heightened investor concern and opposition. Shareowner pressure has been one important factor in getting panies to announce that they cut their ties or clarifying that they had left years ago. The next proxy season is expected to see additional pressure panies seemingly dedicated to keeping their ALEC support flowing.”

Full disclosure: I am a former employee of The Heartland Institute (2010-2012) and currently serve (unpaid) as one of the think tank’s many policy advisors as well as freelance contributor (paid) to several of their publications. I also maintain several personal and professional associations with ALEC members.

That written, it must be asked why Walden, Ceres and ICCR are so vehemently opposed to a principled, well-researched and often underfunded opposition? And this: Whatever does spiritual vocations have to do with reducing carbon emissions at the expense of the world’s most financially challenged? As noted recently by Marita Noon:

Natural gas prices have been creeping higher and have pushed an increased use of coal in attempt to keep electricity costs as low as possible—after all, progressives and career environmentalists Michael Shellenberger and Ted Nordhous, of the Breakthrough Institute, posit: cheap electricity is a public good and a human right that has saved the forests, produced more food on less land, and lifted es.

Noon continues:

[Shellenberger and Nordhous] explain: eighty years ago, “The best forests had been cut down to use as fuel for wood stoves. Soils were being rapidly depleted of nutrients, resulting in falling yields and a desperate search for new croplands. Poor farmers were plagued by malaria and had inadequate medical care. Few had indoor plumbing and even fewer had electricity.” Cheap electricity changed all that and Senator Al Gore Sr. fought for it.

Today, “Environmentalists demand that we make carbon-based energy more expensive” and the left calls it “A threat to the planet and harmful to the poor.” Shellenberger and Nordhous state: “In the name of democracy it now offers the global poor not what they want—cheap electricity—but more of what they don’t want, namely intermittent and expensive power” which “offers the poor no path to the kinds of high-energy lifestyles Western environmentalists take for granted.”

Believers in anthropogenic global warming, they acknowledge that “modernization” does have “side effects,” but they believe that these are problems that can be “dealt with.” They claim that “energy poverty causes more harm to the poor than global warming” and that “modern energy”—a term they use interchangeable with “cheap energy”—“makes the poor vastly less vulnerable to climate impacts.”

Shellenberger and Nordhous close their mentary by stating that the 1.3 billion people who lack cheap grid electricity should get it. “It will dramatically improve their lives, reduce deforestation, and make them more resilient to climate impacts. … Any effort worthy of being called progressive, liberal, or environmental, must embrace a high energy planet.”

Rather than focus on the plight of the poor, however, Walden, Ceres and ICCR wish to stifle ALEC and Heartland attempts to mitigate out-of-control government regulations, green-energy crony capitalism and renewable mandates, which are all lofty measures to fulfill Christian goals to assist the poor in this writer’s biased and not-so-humble opinion.

According to the Ernst & Young report, “Nearly 40% of all shareholder proposals were focused on environmental and social topics – the largest of any category.” ICCR and Walden resolutions targeted ConocoPhillips and Exxon to provide more political transparency and reduce carbon emissions, causes enjoined by CMD, Common Cause and People for the American Way, among others.

These last groups, it should be mentioned, receive financing from the Open Society Institute founded and bankrolled by leftist billionaire George Soros, a guy whose enmity toward Christian causes is well-documented. A quick scroll through the list of Soros’ donations reveals OSI monies propping up the “religious” left-wing organization Sojourners, the extremely secular and equally left-wing Planned Parenthood and numerous advocacy groups desiring to panies from funding ALEC, Heartland and any other group challenging the so-called “scientific consensus on climate change,” for example.

In aligning themselves with OSI-funded groups with leftist agendas, further, these groups are attempting to shut down all honest debate – the necessary basis for scientific discovery and public policy decisions – by thwarting corporate donations to any organization with which they disagree. Further, Walden and ICCR have sold-out their obligation to honor mand to tender to the least of our brethren in favor of granting indulgences to climate-change alarmists.

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
How to develop a Christian mind in business school
“Why are you going to business school?” my friend asked, with some concern, “It seems like such a waste of your time. Why not study history or philosophy or the Great Books or something you’d enjoy.” It was a good question. I mitting myself to spending two years going to school full-time (while working full-time) to get a degree in a subject—business administration—in which I didn’t feel particularly passionate. But I felt that God was calling me to go to...
National debt is a real threat to America
If President-elect Donald Trump wants to make America great again, he needs to find a way to reduce the federal debt. Samuel Gregg, in a new article at the Stream, explains why this is so important. There’s much at stake if no action is taken to reduce the federal debt: On December 30, 2016, the United States’ official publicdebtwas $19.97 trillion. It’s almost doubled since 2008. It also exceeds the size of America’s economy in nominal GDP in 2016 ($18.56...
Saltiness and social justice
Does the theological conservatism of a church help or hinder its chances for growth? And what, if any, impact might that have on its social and political witness? In a new research study, sociologist David Haskell and historian Kevin Flatt explore the first of these questions. Using survey data from 22 mainline Protestant churches across southern Ontario, the study concludes that “the theological conservatism of both attendees and clergy emerged as important factors in predicting church growth.” “Our data demonstrate...
Samuel Gregg on Pope Francis, encyclicals, and Argentina
Acton Institute Director of Research – Samuel Gregg Jorge Bergoglio, the Argentine Pope, has led the Catholic Church for four years. He released two encyclicals, Evangelli gaudium(2013) andLaudato si’(2015). Samuel Gregg recently sat down with Anthony Gill of the Baylor Institute for Studies of Religion for an in depth discussion on Pope Francis’ encyclicals among a few other topics such as Argentina and how Juan Perón may have inspired the Pope on his views of economics. You can listen to...
Unemployment as economic-spiritual indicator — December 2016 report
Series Note: Jobs are one of the most important aspects of a morally functioning economy. They help us serve the needs of our neighbors and lead to human flourishing both for the individual and munities. Conversely, not having a job can adversely affect spiritual and psychological well-being of individuals and families. Because unemployment is a spiritual problem, Christians in America need to understand and be aware of the monthly data on employment. Each month highlight the latest numbers we need...
Economics made the world a better place
“A lot of doom and gloom types say we’re living in dark times. But they’re wrong,” says economistDonald J. Boudreaux. “While there are real problems, the world has never been healthier, wealthier, and happier than it is today. Over a billion people have been lifted from dire poverty in just the past few decades.” ...
The cost (and return on investment) of having children
Are you a parent or thinking of ing one? If so, the federal governmenthas a new report that will cause your bank account to gasp. According to the Department of Agriculture, the estimated cost of raising a child from birth through age 17 is $233,610, or as much as almost $14,000 annually. That’s the average for a e couple with two children (the cost is more in urban areas and a bit cheaper in rural locales). While this may sound...
How markets link the world
Note: This is post #16 in a weekly video series on basic microeconomics. Ten years ago this week, Apple unveiled the iPhone. It’s a product that was designed in California and produced by thousands of people all over the world. How exactly is that process coordinated? How do those people now how much of each part to make? In this video by Marginal Revolution University, economist Alex Tabarrok explains how voluntary coordination and markets make possible such modern-day miracles as...
If the lottery was honest
When es to government programs for redistributing e, nothing is quite as malevolently effective as state lotteries. Every year state lotteries redistribute the e of mostly poor Americans (who spend between 4-9 percent of their e on lottery tickets) to a handful of other citizens—and tothe state’s coffers. This video by Crackedshows what a lottery ad would be like if the government-run business was forced to be honest:“The only reason it stays legal isbecause the government is the profiteer of...
Venezuela is increasing the minimum wage for slave labor
Economists disagree about the effects of raising the minimum wage—but not as much as you might imagine. Almost all of the serious debate is whether an increase of 20 percent or less will have a detrimental or negligible effect on workers and the economy. Some economists, especially those who think the minimum wage should be $0, contentthat any increase is harmful. Others think the current federal minimum wage could be bumped up by 20 percent before it would lead to...
Related Classification
Copyright 2023-2026 - www.mreligion.com All Rights Reserved