Home
/
RELIGION & LIBERTY ONLINE
/
Corporate God-Flies Fail Miserably on 2015 Proxy Resolutions
Corporate God-Flies Fail Miserably on 2015 Proxy Resolutions
May 9, 2025 4:27 PM

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
Review: Environmental Stewardship and wealth creation
In the Orange County Register, Senior Editorial Writer Alan Bock reviews the Acton Institute book, “Environmental Stewardship in the Judeo-Christian Tradition.” (Available in the Acton Bookshoppe for the bargain price of $6). The book might be viewed as an extended rebuttal to a famous 1967 Science magazine article by Lynn White that contended that the biblical injunction for people to have “dominion” over the Earth led to an arrogant view toward the environment that led to widespread environmental despoliation. The...
The RTT Ruse
On February 25th, while Barack Obama chatted about ObamaCare with members of Congress, the Federal Department of Education – lead by its cabinet level chief Arne Duncan who’s also from Chicago – prepped for release to the public his and his boss’s second assault on our freedom; this time a scheme to further intrude on your child’s education. As an announcement from two think tanks put it: “generationally important Tenth Amendment issues [were] opened on two fronts—the prospect of centralizing...
Beyond Sovereignty: Money and its Future
Over at Public Discourse, Acton’s Samuel Gregg has just published a piece about the future of money. The issuance of money, he writes, is often associated with issues of national sovereignty, despite the fact that governments have long abused their monopoly of the money supply. Gregg argues, however, that the role played by mismanaged monetary policy in the 2008 financial crisis may well open up the opportunity to consider some truly radical options for how we supply money to the...
Pope Benedict: Justice is not enough
Last Saturday Pope Benedict XVI addressed a group called Italian National Civil Protection, made up largely of volunteers. This is the organization that provided much of the crowd control at two of Rome’s largest public events, the World Youth Day in 2000, and the funeral of Pope John Paul II in 2005. (I was in Rome for both events and can personally attest to the surprising order these volunteers brought. If only the same order could be seen in everyday...
Preview: R&L Interviews Nina Shea
Nina Shea In the next issue of Religion & Liberty, we are featuring an interview with Nina Shea. The issue focuses on religious persecution with special attention on the ten year anniversary of the fall munism in Eastern Europe. A feature article for this issue written by Mark Tooley is also ing. Tooley is president of the Institute on Religion and Democracy in Washington D.C. In regards to Shea, the portion of the interview below is exclusively for readers of...
Acton’s William F. Buckley Tribute Video
Saturday February 27 was the second anniversary of the death of the conservative giant William F. Buckley, Jr. I first saw Buckley in person when Ole Miss hosted Firing Line in 1997. I read National Review in High School even though I admit I did not always understand some of his words at that age. It was a wonderful reminder of the importance of intellectualism and conservatism, and that I still had a lot to learn. The political left too...
Review: In the Land of Believers
In what is another book that points to America’s cultural divide, Gina Welch decides to go undercover at the late Jerry Falwell’s Thomas Road Baptist Church in Lynchburg, Virginia. An atheist, Yale and University of Virginia liberal graduate from Berkeley, California, Welch declares her undercover ruse was needed to better understand evangelicals. In the Land of Believers, Welch decides to fake conversion, e baptized in the church, immerse herself in classes, and even goes to Alaska on a mission trip...
QOTD: Why economics matters
The control of wealth is the control over human life. So if a centrally planned economy decides how wealth is to be created and how it is to be distributed, then they really have a control over human life. That’s from Arnold Beichman, the journalist and scholar, who died Feb. 17 at the age of 96. The Heritage Foundation InsiderOnline Blog retrieved the quote from a 2004 article in a Columbia College alumni magazine. There was also this: Centrally planned...
Olympians Behaving Badly
Almost nothing is mon in sports than to hear a sportscaster going on about how some athlete is a fine young man or young woman. How they work hard, sacrificed for their sport, are respected by their teammates, and volunteer with children. We enjoy the thrill of petition and rejoice in a game well played or a move perfectly executed, and it is natural that we hope these athletes are as excellent off the field as on. We want heroes...
An analogy for good government
Riffing off of Lord Acton’s quote on liberty and good government, I came up with an analogy that was well-received at last month’s inaugural Acton on Tap. In his essay, “The History of Freedom in Antiquity,” Acton said the following: Now Liberty and good government do not exclude each other; and there are excellent reasons why they should go together; but they do not necessarily go together. Liberty is not a means to a higher political end. It is itself...
Related Classification
Copyright 2023-2025 - www.mreligion.com All Rights Reserved