Home
/
RELIGION & LIBERTY ONLINE
/
The ‘Tragedy’ of the (Boston) Common
The ‘Tragedy’ of the (Boston) Common
Mar 20, 2026 10:38 AM

Boston Common Asset Management bills itself as “a leader in global sustainability initiatives.” Why would an investment portfolio pany label itself with the appellation “Common” when it carries such negative baggage? As it turns out, BCAM embraces mon” as something positive.

From the BCAM website:

Beginning in 1634, the Boston Common served as mon pasture for cattle grazing. As a public good, the Common was a space owned by no one but essential to all. We chose the name Boston Common because, like the Common of old, our work stands at the intersection of the economic and social lives of munity.

Never mind all that John Locke hootie-hoot about private property being the cornerstone of a free society. Please ignore all the papal encyclicals from Pope Leo XIII’s Rerum Novarum onward that champion private property. Oh, yes, pletely disregard the U.S. Constitution, which codifies private-property rights, and pay no attention to the “tragedy of mons” which inexplicably is ignored here.

One has to give BCAM credit, however, for consistency. They really, really despise privacy whether it’s property, political donations or corporate lobbying (although it’s also assumed they have no issue with the “penumbra of privacy” suddenly discovered in the U.S. Constitution by members of the Supreme Court after somehow every other legal mind overlooked it for nearly two centuries). Privacy for everything else apparently is subject to eradication in BCAM’s book.

BCAM – one of the many members of religious shareholder activist group the Interfaith Center on Corporate Responsibility – weighed-in on its efforts to “shine a light on corporate lobbying practices” the other day on The Huffington Post. BCAM Director of Shareowner Engagement Lauren Compere (who also is a member of the ICCR Governing Board) remarked:

The 2016 U.S. presidential election campaign is set to be the most expensive yet, with some sources suggesting a whopping $10 billion in total costs. The huge price tag of the campaigns have put issues of corporate political spending and lobbying to the forefront as we enter proxy season – the period when panies hold their annual shareholder meetings, making lobbying one of the hottest topics on the agenda of investors.

Is that so? Try telling that to Jeb Bush, whose campaign burned through $130 million only to achieve also-ran status – and your writer has yet to hear any negative reputational fallout for the corporate contributors to his failed campaign. As for money buying votes, Ms. Compere has it upside down. This week’s presidential primary resulted in a victory for Donald Trump, who spent a whopping 13 cents per vote, while loser Bernie Sanders spent $9 per vote, accordingto a report from the Center for Public Integrity. Both campaigns, it should be noted, receive little to no corporate funding, anonymous or otherwise. CPI also reported Democrat Hillary Clinton spent $3.62 per vote.

Compere changes tack, and continues saying that private donations from corporations are bad because … well, you know … those funds might be used to challenge the nonexistent scientific consensus on climate change:

panies do their political lobbying behind closed doors it threatens both our democracy and ultimately the credibility and trust in pany’s own brand.

A key part of an investor’s job is to know and understand risk. However in the U.S., as well as many other countries, there are no regulations panies to publicly detail whether they have made direct payments to political parties, candidates, trade associations, special interest groups or lobbyists. This creates a lack of transparency, and increases the risk of corruption.

A lack of transparency also means panies often don’t know what trade associations are doing on behalf of their members. Ford Motor Company is just the latest to join over panies (including iconic brands Microsoft, PepsiCo, Mars, Wal-Mart, and Unilever), which have left the American Legislative Exchange Council (ALEC) which is involved in drafting model state legislation on gun control, Voter ID laws, Stand Your Ground laws, anti-immigration bills, blocking EPA regulations, and reversing state regulations on renewable energy. Similarly, a number of panies have left the Chamber of Commerce which has spent over $1bn on lobbying since 1998. While new research from InfluenceMap indicates that major panies and their trade associations spent over $100m in 2015 on efforts to obstruct and delay climate policy.

Simply put, we believe it is in the best interests of shareholders panies to be transparent and accountable about whether they use corporate funds to influence regulation – both directly and indirectly.

Wow. There’s so much to unpack above, but it quickly can be summed up as activist investors of a certain political stripe should use their influence to force corporations to stop any funding of groups or candidates they disagree with regardless whether those actions actually benefit the corporation in question or its other investors. As for InfluenceMap and its impeccable, unbiased “research,” it’s merely more of the same, as noted by the group’s “Mission” on its website:

InfluenceMap is driven by a desire to remove the political gridlock that has hindered the climate change issue since the Earth Summit in 1992, and has since prevented a meaningful global agreement. Whilst the current mood of sustainability-driven CEOs appears to be confident that business is rallying behind the path to appropriate action, policymakers are sceptical, suggesting corporate influence has, and continues to be, a major factor in holding back the policy process. We provide our stakeholders with an online tool to access information on this topic, supporting key engagers in their interactions panies and corporate representatives. We point to and support the mendations of a key report on corporate engagement with climate policy from three UN agencies entitled Caring for Climate. It states that corporations be transparent, align their political influences (internally and externally), support climate legislation, and to stop obstructing it.

That’s unbiased stuff, you betcha. Ms. Compere concludes:

A petition has been brought to the SEC asking for the development of rules that require panies to disclose political contributions to shareholders. Yet, despite over 1.2 million letters submitted in support including institutional investors, leading academics, state treasurers, and even two former SEC Chairs Arthur Levitt and William Donaldson, Congress last year acted to prevent the SEC from implementing such a rule for the next year. A worrying decision, because when corporate lobbying and political contributions take place in the dark it is not only shareholder value that is put at risk, democracy itself is also weakened. And when that happens we all lose.

Worrying? To whom – other than activist shareholders attempting to muzzle opposing voices such as ALEC, the Chamber of Commerce and The Heartland Institute who dare express climate-change skepticism? What group will they target next should their disclosure efforts succeed? BCAM and ICCR might want to up their game when es to discussing unsettled science rather than adopting the disingenuous albeit easier route of stifling debate.

It appears Ms. Compere, BCAM and ICCR won’t be happy until all corporations are subject to Commons-era rules that reflect activist shareholders’ disdain for nearly everything private. Should they succeed, it truly would be a tragedy.

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
5 Facts about Jewish High Holy Days
The Jewish holiday of Rosh Hashanah ended last week, and the holy day of Yom Kippur ends tonight at sundown (see also: FAQ: What is Yom Kippur?). Here are five facts you should know about the High Holy Days on the Jewish calendar: 1. In Judaism, the High Holy Days (sometimes referred to as “high holidays”) may refer to (1) the ten days starting with Rosh Hashanah and ending with Yom Kippur, known as the Days of Repentance or theYamim...
Abp Justin Welby compared Amazon to leeches — but it built his church
In a recent speech, the Archbishop of Canterbury likened Amazon executives to leeches and ancient Aztec rulers who “ate the flesh of human sacrifices.” However, in reality Amazon has generated such prosperity for its shareholder, the Church of England, that it has financially built up the body of Christ. In a harsh address to the Trades Union Congress last week, Welby said that Amazon “leached off the taxpayer,” since its low tax bill proves “they don’t pay for our defence,...
Rev. Robert Sirico’s ‘Catholique et Libéral’ launched in Paris
The full-house at Paris Story theater brought together many ranks of French leadership from economics think tanks, businesses, human rights advocacies, and the Catholic Church. From left to right: David Briend (publisher), Rev. Robert Sirico (author), Emmanuelle Gave (interpreter), Jean-Philippe Delsol (IREF president), Charles Gave (preface author and president of Institut des Libertés) Recently, on September 6, Acton’s president and co-founder Rev. Robert Sirico launched his first trade press book in French Catholique et Libéral. Les raisons morales d’une économie...
Freer markets, freer press: Study explores the connections between economic liberty and press freedom
At a time when so-called “democratic socialism” is rising in prominence, we are accustomed to hearing about the patibility of socialism and political freedom. Not only is the dismantling of economic patiblewith democracy—we are told—but it is essential to its survival. “Moving towards socialism involves subordinating the economic power of capitalists to the social power of the people,” write Mathieu Desan and Michael McCarthy in a recent essay for Jacobin. “…Only when the private decisions that have massive public implications...
How expert are expert stock pickers?
Note: This is post #93 in a weekly video series on basic economics. In his 1973 book, A Random Walk Down Wall Street, economist Burton Malkiel made a controversial claim: a blindfolded monkey, throwing darts at the financial pages, could select a basket of stocks that would do just as well as a set chosen by the pros. Economist Alex Tabarrok explains why that is true and why the first rule of smart investing is “ignore the expert stock pickers.”...
Radio Free Acton: Inside the studio of a violin maker; Upstream on the film ‘Andrei Rublev’
On this episode of Radio Free Acton, award winning news anchor Anne Marie Schieber visits the studio of Matthew Noykos, a violin maker in Grand Rapids, MI, to learn more about his craft and discuss how he finds purpose and fulfillment in his everyday work. Then, on the Upstream segment, Bruce Edward Walker speaks with Robert Bird, author of two books on Russian filmmaker Andrei Tarkovsky, about Tarkovsky’s film “Andrei Rublev,” which was recently re-issued by The Criterion Collection. Check...
A Jewish perspective on market, justice, and charity
“Not a day goes by when there’s not some concern raised about the state of the economy and how people are faring,” says Curt Biren in this week’s Acton Commentary. “While recent economic growth has been promising, wage growth is lackluster, many say.” The middle class is shrinking. There’s too much e inequality, and the list goes on. These concerns are pelling. Who wouldn’t like to see more opportunity and more growth? People yearn for the good life, to experience...
Five ways the West gets African development all wrong: Ibrahim Anoba
World leaders have converged on Africa in recent days, but their development plans may do more harm than good. And increasing foreign aid may be their worst proposal yet, writes Ibrahim B. Anoba in a new essay for Acton’s Religion & Liberty Transatlantic website. “Limiting the power of the government and its cronies, and tempering bureaucratic overreach with a firm respect for individual rights, are prerequisites for economic progress,” writes Anoba, acting executive director of theAfrican Liberty Organization for Development....
A crash course on how to interpret the U.S. Constitution
Today is Constitution Day, a holiday celebrated in America every year on September 17, the anniversary of the day the framers signed the document. The U.S. Constitution is arguably one of the most important legal documents in the history of the world. Because of this venerated status, though, many people assume that you need to be a Juris Doctor (J.D.) and an expert on recondite Constitutional law to understand how to read the document, much less interpret the Constitution. But...
How Trump’s tariffs hurt Michigan industry
“President Donald Trump’s continued embrace of tariffs spells danger for Michigan,” says Tyler Groenendal in an op-ed for the Detroit Times. Groenendal, the foundation relations coordinator at the Acton Institute, says though Trump is noted for his “America First” refrain, his call for tariffs will ultimately hurt America the most: Michigan is particularly vulnerable to the consequences of protectionism. According to estimates by the U.S. Census Bureau of Economic Analysis, imports and exports accounted for 38.9 percent of the Michigan’s...
Related Classification
Copyright 2023-2026 - www.mreligion.com All Rights Reserved