Home
/
RELIGION & LIBERTY ONLINE
/
Proxy Shareholders Losing Their Religion
Proxy Shareholders Losing Their Religion
May 23, 2026 11:39 AM

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
Samuel Gregg: Paris is burning
“Since 1789, we’ve all had good reason to worry whenever riots break out in Paris,” says Acton research director Samuel Gregg. “Whether it’s 1848 or 1968, social upheaval in France rarely ends well.” The sheer fury vented throughout France by thegilets jaunesmovement over the past three weeks has highlighted specific grievances animating many French citizens. The truth, however, is that the burning cars, blocked highways, vandalism, lawlessness, and running battles between rioters and police in the streets are symptomatic of...
Unemployment as economic-spiritual indicator — November 2018 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...
A Hanukkah meditation on Maimonides … and venture capitalism
If the average person had to describe a capitalist, he might name “Dickens’ unredeemed Scrooge, or Gordon (‘Greed is good!’) Gecko from the movieWallStreet.” However, the real patron saint of venture capitalism may well be the great Jewish theologian and philosopher Moses Maimonides,writes Laurie Morrow, Ph.D., in a Hanukkah meditationfor Acton’sReligion & Liberty Transatlanticwebsite. “Rambam” believed that the highest form of charity is enabling someone to start a business or take other means so that he will no longer have...
FAQ: Who is Annegret Kramp-Karrenbauer, Angela Merkel’s successor in Germany?
On Friday, December 7, Angela Merkel’s ruling Christian Democrats elected Annegret Kramp-Karrenbauer as party leader. “AKK,” as she is known, is liberal on economic issues, conservative on social issues, and once called for the Roman Catholic Church to ordain a “quota” of female clerics. Here are the facts you need to know. What happened at Friday’s CDU party leadership vote? Annegret Kramp-Karrenbauer narrowly won the delegates’ vote to e party leader of the Christian Democratic Union (CDU) in a narrow,...
FAQ: What happens in a confidence vote?
Prime Minister Theresa May will face a confidence vote today between 6 and 8 p.m. local time (1 to 3 p.m. Eastern time). The result is expected no later than 9 p.m. London time. What is a confidence vote, how does it work, and what happens afterwards? What is a confidence vote? Under the UK’s parliamentary system, the ruling party’s leader es prime minister. If the leader loses his or her support, Conservative members of Parliament vote to express their...
How taxing work affects employment
Note: This is post #104 in a weekly video series on basic economics. An important factor influencing an individual’s decision whether to keep working as they get older is their government’s tax and retirement policies. Taxes on earnings plus penalties, like losing retirement benefits, gives us an implicit tax rate, explains economist Alex Tabarrok. Countries with higher implicit tax rates for older workers see a much lower labor force participation rate for people considered retirement age. (If you find the...
‘The Great Awokening’: The threat of America’s new political religions
The decline of religion in America is real—that is, depending on how you define “religion.” Weekly church attendance is in decline, as is self-identification with a formal religion, denomination, or belief system. Meanwhile, the rise of the “nones” seems increasingly steady in speed, replacing religious-cultural standards and norms of old with a modern menu of “personal spiritualties” based on any number of humanistic priorities—from humanitarianism to political activism to self-helpism to the garden-variety exultations of hedonism, materialism, fortability. But not...
An Aleksandr Solzhenitsyn centenary
On this day in 1918, Russian writer and historian Aleksandr Solzhenitsyn was born inKislovodsk, Russia, to Taisia and Isaaki Solzhenitsyn, parents of peasant stock who had received a university education. When he died in 2008 near Moscow, Solzhenitsyn had published his monumental Gulag Archipelago and other literary and historical works — which continue to appear in English for the first time. Over the next few weeks, we’ll be posting Acton archival material and new writings and media on the blog...
5 Facts about international human rights
Today is the 70th anniversary of the Universal Declaration of Human Rights, a milestone document in the history of human rights. In honor of the observance, here are five facts you should know about international human rights: 1. Prior to the 1940s there were a number of documents, such as the the British Magna Carta and the U.S. Bill of Rights, that advanced the recognition of human rights. But few documents were recognized internationally as applying to all people at...
From inmates to entrepreneurs: How work transforms the soul and spirit
James, Gene and Dexter at Refoundry With the promising (but now passing) prospect of a new wave of criminal justice reform circulating around Capitol Hill, discussions have reemerged as to how we might improve the justice system to better help and support our prison population (current and former) in rehabilitating their lives and avoiding the status quo of systematic detours. Meanwhile, at a cultural and institutional level, we continue to new ways of helping individuals better recognize their gifts and...
Related Classification
Copyright 2023-2026 - www.mreligion.com All Rights Reserved