Home
/
RELIGION & LIBERTY ONLINE
/
Proxy Shareholders Losing Their Religion
Proxy Shareholders Losing Their Religion
Jul 14, 2026 5:04 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
We are rational animals, not racial animals
The problem with bad ideas is that they never remain merely ideas. Once they attract sufficient – not always majority – support, bad ideas e codified into worse laws, which afflict whole societies. We are witnessing that process now over a misguided notion of how important “race,” ethnicity, and other identifiable factors are to the value of the human person. Consider the answer of science and Western civilization to what makes us uniquely human. The noblest part of a creature...
Following the crowd: Rene Girard on the denial of Peter
This week, June 29, was the solemn feast of Saints Peter and Paul. The Apostle Peter is remembered for many things: his declaration of Jesus as the Messiah; his boasting of fidelity, followed by his threefold denial of Christ; and his subsequent repentance and heroic martyrdom The late French anthropologist and former Stanford professor Rene Girard has an insightful discussion about the denial of Peter and the problem of scapegoating and contagion. He sees in it an archetype of the...
Rand Paul on the fatal conceits of COVID-19 central planning
When the first wave of COVID-19 hit the United States, Americans were generally sympathetic to the various lockdowns. Yes, we were likely to endure significant economic pain, but given how little we knew about the virus and how great the risks could be, we were willing to accept the cost. Now, after months of mismanaged responses, contradictory analyses, and flip-flopping guidance from our esteemed sources, trust in our leaders and institutions is wearing thin. Despite all that we have learned,...
Michael Matheson Miller to Patrick Deneen: Strong towns need strong economies
Among the most influential critics of the free market on the Right is Patrick Deneen, a political science professor at the University of Notre Dame. Acton Institute Senior Research Fellow Michael Matheson Miller has published a response in Law & Liberty to Deneen’s recent plea for a national policy to favor munities (“Thinking Big to Act Small” in the American Compass). Miller writes that he shares Deneen’s belief in decentralization, the problems of individualism, the shallow nature of consumerism, and...
Acton alumni spotlight: Justin Beene – Developing community and seeking justice
Justin Beene is the director of the Grand Rapids Center for Community Transformation and long-time faculty member of Acton University. He has spoken munity development and poverty several times at Acton events. You can hear his AU talk, “Community and Economic Development,” by clicking the button at the bottom of this interview. I’ve long admired Justin and the work he’s engagedin. Recently, I had the chance to ask Justin several questions about Acton, his work, and the current cultural upheaval...
Evolving between two worlds
In the latest issue of The New Yorker Larissa MacFarquhar has a deeply researched and beautifully written story, “How Prosperity Transformed the Falklands.” It chronicles the history of the Falkland Islands from the early settlement of the then-uninhabited islands to the Falklands War between Argentina and the United Kingdom in 1982, as well as the economic transformation after that conflict. It is an economic success story but also a meditation on what makes munity and nation and how rapid economic...
Loneliness: The incalculable cost of COVID-19
The recent Fourth of July holiday invited Americans to contemplate the principles upon which this nation was founded – and the battles fought to uphold those principles. Perhaps more than any other time of the year, we reflect on the heroism and sacrifice of our soldiers. Historical lessons from our past show us how we can draw on those principles to better serve the vulnerable and minimize the loneliness that so many people feel during our global COVID-19 pandemic. Traditional...
Acton Line podcast: A primer on religious liberty (rebroadcast)
This week we’re rebroadcasting a conversation about religious liberty with Ryan T. Anderson, the William E. Simon senior research fellow at the Heritage Foundation, that was first released on the podcast in April of 2015. In the intervening five years since we first aired this episode, much has changed in our conversations on religious liberty – but much is still the same. While the focus is no longer on Indiana’s Religious Freedom Restoration Act as it was in 2015, religious...
Eroding judicial activism (more than) one nation at a time
Judicial activism is a transatlantic problem. Thus, it requires a transatlantic analysis. The Acton Institute has helped link English-speaking citizens concerned with preserving the Constitution in a conversation with the world’s 270 million Francophones. Last month, the U.S. Supreme Court ruled that the 1964 Civil Rights Act included sexual orientation and gender identity, paving the way for new rounds of lawsuits and potentially rendering it impossible for some employers to operate their businesses in accordance with their faith. The justices’...
Acton Line podcast: Are we in a revolutionary moment?
Since late May, many parts of the United States have grappled with unrest. Anger over George Floyd’s death sparked protests, with looting and violent riots breaking out, as well. Protesters have also been defacing and tearing down statues across the country, including statues of Confederate leaders, as well as monuments to George Washington, Ulysses S. Grant, and even abolitionists. The Capitol Hill Autonomous Zone (CHAZ), also dubbed the Capitol Hill Organized Protest (CHOP), was a six-block area in Seattle where...
Related Classification
Copyright 2023-2026 - www.mreligion.com All Rights Reserved