Home
/
RELIGION & LIBERTY ONLINE
/
The ‘Tragedy’ of the (Boston) Common
The ‘Tragedy’ of the (Boston) Common
Feb 12, 2026 3:13 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
Bob Dylan wins Nobel Prize in Literature
When Bob Dylan wrote, “The Times They Are A Changin’,” I doubt he had the Swedish Academy in mind. Nevertheless, by awarding him the 2016 Nobel Prize in Literature the Academy has made a bold statement for a change in the way songwriting is viewed as literature. Many people have plained that there were many more worthy potential recipients. But let’s face the facts: Bob Dylan won, and they lost. He likely didn’t even know he peting. (Reportedly, he was...
Sed contra: Taxation is theft
Over at the Libertarian Christian Institute, Jamin Hübner engages my reflection on taxation and Sam Gregg’s book, For God and Profit, with his sed contra: “But what if the ‘taxation is theft’ creed is consistent with both Christian and libertarian ideas, and that all things considered, taxation really is theft? And what if we’re simply misreading or misappropriating the New Testament? This wouldn’t be fortable or popular conclusion to draw, but it might be the case nevertheless.” Hübner accuses me...
Does the government do too much or too little?
“There are many things government can’t do—many good purposes it must renounce,” said Lord Acton. “It must leave them to the enterprise of others. It cannot feed the people. It cannot enrich the people. It cannot teach the people. It cannot convert the people.” Unfortunately for us, too few of our fellow Americans would agree with Lord Acton on that point. Many people think the government can feed, enrich, and teach us—and even convert us to the “right” (i.e., politically...
Help people, not banks – reflections on the 2016 Nobel Prize in economics
Earlier this week the 2016 Nobel Prize in economics was jointly awarded to Oliver Hart and Bengt Holmström on Monday for their shared contributions to our understanding of contract theory. “Taken together the work of Hart and Holmström has allowed all of us to understand more clearly what a “good” contract might look like,” says Victor V. Claar in this week’s Acton Commentary, “even when both parties face an uncertain future.” Most of Professor Hart’s work has dealt with “principal-agent...
Principles for a Christian understanding of economics
Many Christians assume that the Bible has nothing at all to say about economics, says Albert Mohler. But a biblical worldview actually has a great deal to teach us about economic matters. Mohler notesthat while the Christian worldview does not demand or promote a particular economic system, there are several principles that should guide our thinking: 6. A Christian economic understanding rewards initiative, industry and investment. Initiative, industry and investment are three crucial words for the Christian’s economic and theological...
Video: Rev. Sirico On The Podesta Emails
Rev. Robert A. Sirico, President of the Acton Institute, joined host Neil Cavuto on Fox News Channel’s The Cost of Freedomthis morning to discuss the ments about conservative Catholics and Evangelicals by Hillary Clinton campaign manager John Podesta and other campaign staffers in a recently released batch of hacked emails from Wikileaks. You can watch the interview below. ...
Leaked emails reveal Clinton camp mocked Catholics
Have you ever wondered what liberal political activists and politicians think of Catholics? Well, thanks to Wikileaks you can get a glimpse into their views. In a couple ofemails from Hillary Clinton campaign chairman John Podesta’s account there are exchanges in which conservative Catholics are mocked. The first is the amusing titled“Catholic Spring.”Sandy Newman of Voices for Progress tells Podesta that she thinks there needs to be a “Catholic Spring” akin to the “Arab Spring”, the series of protest against...
Trump is the lewd American male
The implosion of Donald Trump’s campaign is a reminder that at the end of the day, character matters more than professional success or mitments. At the beginning of the second presidential debate Donald apologized again for the ments recorded during a private discussion with Billy Bush in 2005 in which he boasted of romantically pursuing married women and groping others. In his apology, he referred to that discussion as regular “locker room talk.” In other words, Trump believes he is...
Entitlement and the Christian vision of work
Whether directly connected with our passions or not, God calls us first and foremost to do the next thing well, to his glory, with all of our might, says John Stonestreet. Short of this awareness, we risk “Christianizing” a sense of entitlement. Christians are guilty of inculcating false expectations to their young as well. For at least a couple of generations, Christian colleges and other educational institutions, with the noble intention municating the biblical concept of “calling” being more than...
Video: Paul Bonicelli on Evangelicals and the 2016 Election
Acton Institute Director of Programs and Education Paul Bonicelli joined host Juliet Dragoson WZZM 13 News in Grand Rapids, Michigan yesterday to discuss the choice facing evangelical voters in the ing 2016 presidential election. You can watch the interview below. ...
Related Classification
Copyright 2023-2026 - www.mreligion.com All Rights Reserved