Home
/
RELIGION & LIBERTY ONLINE
/
Corporate God-Flies Fail Miserably on 2015 Proxy Resolutions
Corporate God-Flies Fail Miserably on 2015 Proxy Resolutions
Mar 17, 2026 3:49 AM

The Manhattan Institute’s latest Proxy Monitor hit laptops this week, revealing the nature and source of the 2015 proxy resolutions. It seems the corporate “God-flies” at religious shareholder organizations such as As You Sow and the Interfaith Center on Corporate Responsibility account for 29 percent of all shareholder resolutions submitted to the nation’s top 250 publically panies. This percentage is second only to the corporate gadflies – identified by the report’s author, James R. Copland, as “individuals and their family members who repeatedly mon shareholder proposals at panies” – and two percentage points ahead of labor-affiliated investors.

Copland reports the number of shareholder proposals aimed at requiring disclosure panies’ political spending has decreased, and those proposals that were submitted in 2015 met the same fate as in previous years – defeated by wide majorities:

Whatever the reason for the drop in the number of shareholder proposals related to political spending, support for these proposals remains tepid. No such proposal has received majority shareholder support over board opposition in the ten years covered in the ProxyMonitor.org database.

To date in 2015, shareholder support for these proposals has averaged 22 percent, in line with historical trends. Although this percentage is up marginally from 2014, when such proposals received just over 20 percent support, the variation is largely attributable to a different mix of proposal types and sponsors than to a shift in shareholder support. In 2014, six proposals called for either a prohibition on corporate political spending or a 75-percent shareholder vote to authorize corporate political spending—proposals which, in contrast to proposals oriented only around disclosure, receive low-single-digit support. No such proposals have been introduced in 2015. In addition, in 2014, seven shareholder proposals were sponsored by individuals, with varying provisions; these individual-sponsored proposals received, on average, the support of less than 10 percent of shareholders. To date, there have been no individual-backed shareholder proposals relating to political spending or lobbying introduced at a Fortune pany in 2015.

Despite the significant drop in shareholder proposals pertaining to political spending, ICCR reports 58 panies it targeted with resolutions intended to curtail or require public reporting of lobbying efforts and political contributions. For its part, AYS thumps its collective chest:

“The flood of corporate political activity proposals continues unabated, and not just about elections,” said Heidi Welsh, Executive Director of the Sustainable Investments Institute (Si2) and co-author of the report [“Proxy Preview”]. “A broad coalition of investors panies to tell stockholders and the public more about so-called ‘dark money’ spent both in campaigns and on lobbying by groups that use corporate money and don’t say where es from,” added Welsh.

In other words, AYS and ICCR continue to waste the time and money of corporations in which they invest year-after-year with bothersome resolutions that stand no chance whatsoever of gaining a majority of votes. This works as well to the detriment of other shareholders who simply want to recognize a reasonable return on their investments. This arrogant political fervor isn’t supposed to be how Christians are supposed to treat one another, much less nuns, priests, clergy and other religious.

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
An Acute Western Problem: “Hardness of Hearing”
Earlier this week Pope Benedict XVI told his fellow Germans, and other modern Western societies, that they are shutting their ears to the Christian message when they insist that science and technology alone bat AIDS and other social ills. His description of the problem is one that will stand out for me for the foreseeable future. He refers to this acute spiritual malady as a “hardness of hearing.” What a great description of modern life that expression provides. We are...
Pascal and Climate Change
In today’s Times of London, taking a cue from Blaise Pascal (at least he thinks), Gerard Baker argues, “Unless the sceptics are really, really certain that we’re all going to be OK, we must act now.” He sums it up this way: “If we believe in global warming and do something about it and it turns out we’re right, then we’re, climatologically speaking, redeemed — if not for ever, at least until some other threat to our es along. If...
Cracking Down on Church Contributions
A week or so ago I passed along a story about the United States Bankruptcy Court for the Northern District of New York’s interpretation of recent legislation to make it illegal for those filing for bankruptcy to tithe, except under very specific circumstances (here’s a good follow-up story). Well, yesterday Religion Clause (which is, by the way, an excellent blog well worthy of bookmarking), noted that while the aforementioned case had received a great deal of attention, “an equally important...
The Political Economy of Fantasy Sports
Although it is played by about 15 million Americans and amounting to a $1.5 billion a year industry, and even though it is a growing business and worth talking about, this post is not about the real-world economics of fantasy sports. Instead, this post is about the typical structures of fantasy leagues, particularly football (the most popular), and what these leagues can tell us about the participants’ most basic economic assumptions or impulses. I will argue that the default model...
Religious Leaders Bash the Global Market
Why do so many clergy and religious activists reflexively attack the free market? Kishore Jayabalan takes a look at recent anti-business campaigns. “The very concepts of business and profit motive are often reason enough for religious leaders to condemn an activity as immoral and unethical, and criticisms of multinational corporations are just the same condemnations on a larger scale,” he writes. However, large multinational corporations are one of the most able and efficient means of improving the economies of developing...
DDT Breakthrough at the WHO
Africans are hailing a major shift in policy at the World Health Organization: A mendation for the limited, indoor use of DDT to control malaria. The fight against the disease, which is a leading cause of death in the developing world, has been hobbled by a long running campaign by environmentalists to ban the insecticide, a campaign that resulted in millions of needless deaths. The South African health ministry ed the policy shift, noting that its return to the use...
Prohibition, Blue Laws, and the Primum Usus Legis
A paper recently published at the National Bureau of Economic Research calls into question some conventional economic wisdom about the effects of certain kinds of legislation. In “The Church vs the Mall: What Happens When Religion Faces Increased Secular Competition?”, Jonathan Gruber and Daniel M. Hungerman find that when so-called “blue laws” are repealed in any given state, “religious attendance falls, and that church donations and spending fall as well.” But in addition, “repealing blue laws leads to an increase...
The Evolution of Marketing
Last week, marketing guru Seth Godin quoted the 17th-century Spanish Jesuit Baltasar Gracián y Morales: Know how to sell your wares, Intrinsic quality isn’t enough. Not everyone bites at substance or looks for inner value. People like to follow the crowd; they go someplace because they see other people do so. It takes much skill to explain something’s value. You can use praise, for praise arouses desire. At other times you can give things a good name (but be sure...
Jordan Ballor named to Relevant Nation
A big hat tip to Jordan Ballor, PowerBlog MVP and associate editor of Acton’s Journal of Markets & Morality, on his being named to Relevant Nation — a group of “50 Activist, Artists And Innovators Who Are Changing Their World Through Faith.” Produced by the folks at Relevant magazine, the Relevant Nation singles out “innovators from the worlds of art and entertainment, science and technology, business and social justice. The stories will inspire you to take risks, serve others with...
In Defense of Compassionate Conservatism
In his column, which also appears over at Human Events Online, Acton senior fellow Marvin Olasky mentions the work of the Acton Institute’s Samaritan Award in defense of passionate conservatism”: Those who passionate conservatism is dead e to Samaritan Award programs in Richmond or Fairfield, California; Memphis, Nashville or Knoxville, Tennessee; Camden, N.J., or Chester, Penn.; Columbus, Ohio, or Hastings, Neb. or Marquette, Mich. Why go there? Because those are the towns and cities that are home to this year’s...
Related Classification
Copyright 2023-2026 - www.mreligion.com All Rights Reserved