Home
/
RELIGION & LIBERTY ONLINE
/
The ‘Tragedy’ of the (Boston) Common
The ‘Tragedy’ of the (Boston) Common
Apr 10, 2026 4:34 PM

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
Samuel Gregg: Catholicism’s Compatibility With Capitalism
Sam Gregg, Director of Research for Acton, is featured in an interview with the National Catholic Register. The interview ranges from Gregg’s education and career at Acton to how Catholicism and the free markets dovetail. Trent Beattie questioned Gregg about St. Bernadine of Siena, who defended business and entrepreneurs. Gregg replied: Most Catholics are unaware of the broad Catholic intellectual and institutional contributions to the development of market economies in general, especially during their early phases in the Middle Ages....
Explainer: What is Going on in Vietnam?
What is going on in Vietnam? For decades, China and Vietnam have clashed over control of parts of South China Sea, which is rich in oil and fish. Earlier this month, China moved an oil drilling rig into waters claimed by Vietnam. The Vietnamese government sent vessels trying to stop Beijing’s deployment. Chinese ships responded by firing water cannons, which sparked protests in Vietnam. Thousands of protestors torched Chinese-owned businesses and factories. On May 18, Vietnamese security forces moved to...
What Most People Get Wrong About Economics
I am not an economist. Truth be told, I only took one class in economics as an undergrad. However, I’ve learned a lot in the past few years, and one of the things I’ve learned is that most people don’t understand economics. Pascal-Emmanuel Gobry knows this as well, and explains it far better than I could. In today’s Forbes, Gobry breaks down the understanding of economics into two broad camps: the “productivist” view and the “creativist.” First, the productivist: pressed,...
Calvin Coolidge on the Death of American Civilization
“The Power of the Moral Law” is the title of an address delivered by Calvin Coolidge at the Community-Chest Dinner in Springfield, Massachusetts on October 11, 1921. Published in The Price of Freedom, the text is only available online through Google Books. Coolidge’s main point in his remarks was to reinforce the truth that it is prosperity not grounded in a deeper meaning that threatens our American Republic. Displaying his conservative thought, he challenges materialism of government interventionists and reminds...
On Environmental Science, Moral Witness Requires Clear Thinking
When es to environmental science, we can’t avoid tough science and policy questions by simply arguing from Scripture or Tradition, says Rev. Gregory Jensen in the first of this week’s Acton Commentary. Yes theology and science “have different points of departure and different goals, tasks and methodologies” but they e in touch and overlap.” For this convergence to be fruitful we must resist “the temptation to view science as a pletely independent of moral principles.” Science can, and often does,...
Caution: Great Literature Ahead
This is what our country e to: warning labels on great literature. I’m not talking about the parental warning labels (that no parent ever sees, because who buys CDs anymore?) on CDs with explicit lyrics. Nope, we’re talking about warning labels on literature. You see, we have to protect our young people from possible “triggers” – ideas, descriptions and situations in books that might make them unhappy or feel bad: It is the so-called trigger warning applied to any content...
Video: ‘Fighting Poverty: We’ve Been Doing it All Wrong’
Yahoo! Finance’s Stock Analyst, Kevin Chupka, recently interviewed Rev. Robert Sirico about the “Cure for e Inequality” and the work of PovertyCure. Chupka begins by stating that “close to half the planet lives on less than $2 dollars a day” and that an alarming number of Americans are living below the poverty line. He then states that despite all the good intentions, decades of charitable giving hasn’t done much to end this problem. Chupka and Sirico discuss PovertyCure’s mission to...
Kuyper on Decentralization, the Family, and the Limits of State Authority
In Guidance for Christian Engagement in Government, a translation of Abraham Kuyper’s Our Program, Kuyper sets forth an outline for hisAnti-Revolutionary Party. Founded by Kuyper in 1879, the party had the goal of offering a “broad alternative to the secular, rationalist worldview,” as translator Harry Van Dyke explains it.“To be “antirevolutionary” for Kuyper, Van Dyke continues, is to be promisingly opposed to ‘modernity’ — that is, tothe ideology of the French Revolution and the public philosophy we have e to...
Explainer: What You Should Know About the VA Scandal
What is the VA and what does it do? VA is the acronym for the U.S. Department of Veterans Affairs, a cabinet-level organization whose primary function is to support Veterans in their time after service by providing benefits and support. The benefits provided include such items as pension, education, home loans, life insurance, vocational rehabilitation, burial benefits, and healthcare. It is the federal government’s second largest department, after the Department of Defense. The VA’s health-care wing, the Veterans Health Administration...
All Is Gift: Lessons in Stewardship from C.S. Lewis’ ‘Perelandra’
One of the primary themes in the Acton Institute’s new series, For the Life of the World, is the notion that “all is gift” — that we were created to be gift-givers, and that through the atoning power of Jesus Christ, we are empowered to render our activities, nay, our very livesto God and those around us. As Evan Koons explains at the end of Episode 1: “All our work in this world is made of stuff of the earth...
Related Classification
Copyright 2023-2026 - www.mreligion.com All Rights Reserved