Home
/
RELIGION & LIBERTY ONLINE
/
Shareholder Resolutions and the ‘God Card’
Shareholder Resolutions and the ‘God Card’
Jan 12, 2025 5:51 AM

The progressive politicization of certain religious orders hurries apace, especially as we enter the season of shareholder activism, proxy ballot initiatives and “corporate social responsibility” lectures from religious groups and churches. This year may generate even more activity as a result of the left’s renewed efforts to undermine Citizens United vs Federal Election Commission.

Because many religious organizations are also shareholders in public corporations, their investments grant them a proxy voice in corporate policies. Unfortunately, this voice too often is used to promote policies that are often indistinguishable from secular-left political causes and may have little connection to the tenets of their respective faiths.

One oft-stated goal of these activists is “transparency.” They claim to rectify the perception the Supreme Court ruled erroneously in Citizens United when it declared unconstitutional the placing of limits on corporate and union political spending. But these attempts to pass transparency rules and regulations extend far beyond mere campaign funding by requiring that all corporations publicly divulge the recipients of their charitable giving.

The real aim of these efforts is to shame pany in question to reduce or eliminate altogether charitable funding of groups out of favor with the corporate social responsibility, or CSR, crowd – groups that lobby, research, publish and campaign on issues that conform to the progressive or “social justice” agenda.

These initiatives are in tandem with two federal announcements last month. On Jan. 9, the U.S. Securities and Exchange Commission said it would submit by April a “Notice of Proposed Rulemaking,” which would panies to disclose their political spending. Another attempt to perform an end run around Citizens United is New York State Comptroller Thomas DiNapoli’s revelation that his office is seeking greater transparency of panies that make political contributions.

The SEC and DiNapoli announcements coincide with the proxy shareholder season of corporate governance. During this period, any shareholder owning more than $2,000 in corporate stock or 1 percent of pany may introduce policy changes they deem important.

The rising tide of shareholder activists from religious orders has even prompted coinage of the phrase “the God card” by Sister Patricia Daly to connote a sense of moral authority for clergy and other religious who promote secular progressive causes in corporate boardrooms.

As noted by Acton’s Joe Carter, there is nothing intrinsically wrong when clergy, nuns and other religious bring their individual social and political views into the corporate boardroom. It es worrisome, however, when clerical collars and habits e a Trojan horse for promulgating progressive policies that don’t necessarily reflect the teachings of the religious institutions to which the professed religious belong.

In fact, there exists a close alignment between the causes championed by Sr. Daly and the Sisters of St. Dominic’s and the very same issues listed as policy priorities by such progressive organizations as the George Soros-funded Media Matters for America. This group launched the Conservative Transparency website in 2009 specifically to monitor corporate donations to conservative organizations.

The Sisters of Charity’s professed aim to “actively promote changes in corporate practices to achieve social and economic justice, a sustainable Earth and mon good” prompted Carter to state: “The Sisters aren’t interested so much in advancing a Catholic position as they are principles that could be accepted by any secular liberal.”

The Sisters of Charity, the Sisters of St. Dominic and other religious activists in the boardrooms and annual meetings do not speak for all the faithful within their respective traditions. Although, from ments and activism, you might assume they are doing just that. Instead, they seek to further an agenda either antithetically opposed or – as with the blatant attempts to circumvent Citizens United with calls for corporate donation transparency – totally unrelated to their respective vocations.

Corporations may acquiesce to transparency demands from shareholders or decide to pursue it as policy, which is their prerogative. They have their shareholders to answer to, after all. What’s more, religious activists on the left may choose to divest shares in favor of investing panies more aligned with their principles. But if they did that how could they hector executives and directors about “social responsibility” panies they’ve targeted for social reform?

Should the SEC or other government entities step in to require such disclosures the negative impact on free speech would be immeasurable. Subsequent reprisals from progressive activists may ricochet throughout the pany, the workforce it employs, the shareholders it enriches, and the customers it serves.

If you have your own examples and cases of how progressives are employing shareholder activism, CSR principles and the “God card” to further an agenda that may have nothing to do with corporate best interests, feel free to add them to ment box below.

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
Explainer: What is the Comprehensive Economic and Trade Agreement (CETA)?
On Wednesday, February 15, the European Parliament approved theComprehensive Economic and Trade Agreement (CETA), a free trade agreement abolishing most trade restrictions between the European Union and Canada. Negotiators hammered out the 1,600-page agreement over the course of seven years before Canadian Prime Minister Justin Trudeau and European Council President Donald Tusk signed CETA last October 30. Then, the pact swept through the Strasbourg-based European Parliament by a vote of408-254 with 33 abstentions last week. What does it do? CETA...
When morality evaporates
When Tzvetan Todorov died on Feb. 7, the Bulgarian/French philosopher and literary critic was lamented only in certain intellectual ghettoes. To the men and women eulogizing Todorov in these circles, he was feted properly if not stingily, which is most unfortunate. Finite word counts are a harsh mistress when a fellow writer endeavors to create a fully realized portrait of his or her subject. Todorov leaves behind a body of historical and moral philosophy that connects the dots between the...
Toward a Christian view of economics
Embed from Getty Images Many Christians assume that the Bible has nothing at all to say about economics, says theologian Albert Mohler, but a biblical worldview actually has a great deal to teach us on economic matters. Mohler outlines twelve theses for what a Christian understanding of economics must do. Here are three of them: 1. It must have God’s glory as its greatestaim. For Christians, all economic theory begins with an aim to glorify God (1 Cor. 10:31). We...
The Michael Novak book that changed reality
From a 2017 vantage point, it’s easy to forget just how radical this book was, says Samuel Gregg in this week’s Acton Commentary. In penning theSpirit of DemocraticCapitalism, Novak was the first theologian to really make an in-depth moral, cultural, and political caseforthe market economy in a systematic way. Needless to say, Novak’s book generated fierce reactions from the religious left. The opprobrium was probably heightened by the fact that theSpiritconfirmed what had e evident from the mid-’70s onwards: that...
Understanding the President’s Cabinet: Veterans Affairs Secretary
Note: This is the sixth in a weekly series of explanatory posts on the officials and agencies included in the President’s Cabinet. See the series introductionhere. Department of Education / U.S. Department of Education (Public Domain) Cabinet position:Secretary of Veterans Affairs Department:Department of Veterans Affairs Current Secretary:David J. Shulkin Succession:The Secretary of Veterans Affairs is sixteenth in the presidential line of succession. Department Mission:“The Department of Veterans Affairs (VA) is responsible for providing vital services to America’s veterans. VA provides...
Video: Arthur C. Brooks on how to bring America together
American Enterprise Institute President Arthur C. Brooks joined us here at the Acton Institute on Monday evening as part of the Acton Lecture Series, and as usual he delivered a great and optimistic message, even in the midst of this time of deep divisions in the United States. It’s impossible to avoid the fact that America is more deeply divided politically today than it has been in decades, and the question is whether or not the current state of affairs...
DonorSee: A charity app that challenges ‘Big Aid’
For far too long, Westerners have simply accepted the status quo of foreign aid, building ever-larger systems and programs for global charity even as they’re proven to squander resources and disempower the munities they intend to assist. As films like Poverty, Inc.and thePovertyCureaptly demonstrate, when es to charity, we need a profound shift in our heads, hands, and hearts — “from aid to enterprise, from poverty alleviation to wealth creation, from paternalism to partnerships, from handouts to investments.” Such a...
Religion & Liberty: Fighting for totalitarianism’s victims
The unofficial theme for Religion & Liberty’s first issue in 2017 is despotism. In this issue, you’ll find stories from the Soviet Union, a close look into the North Korea regime and a reexamination of Hitler’s rise to power. The cover story is an interview with human rights expert Suzanne Scholte, who discusses her passion for fighting the sadistic rule of Kim Jong Un and working with North Korean defectors. After 20 years fighting for those who don’t enjoy freedom...
Why is customer service better at Starbucks than at the DMV?
Note: This is post #22 in a weekly video series on basic microeconomics. Prices are signals that indicate to suppliers how much is being demanded. So what happens when the government puts a cap on the price that can be charged for a product or service? Two effects are shortages and lower quality. In this video by Marginal Revolution University, economist Alex Tabarrok explains why this happens. (If you find the pace of the videos too slow, I’d mend watching...
Temporary jobs have long-term effects on European youth
Ask any economist what the greatest force undermining prosperity is, and hewill answer with one word: uncertainty. But since economics is just human action, uncertainty hurts every aspect of peoples’ lives, upending their plans and delaying – or destroying – their dreams. In Europe, a growing number of young people are unable to engage in the rites of passage that marked the entrance of previous generations into adulthood – a subject Marco Respinti explores on the Religion & Liberty Transatlantic...
Related Classification
Copyright 2023-2025 - www.mreligion.com All Rights Reserved