Home
/
RELIGION & LIBERTY ONLINE
/
How Far Does Faith-Based ‘Shareholder Right to Know’ Go?
How Far Does Faith-Based ‘Shareholder Right to Know’ Go?
Oct 14, 2026 12:54 PM

On January 31, the Interfaith Center on Corporate Responsibility issued a press release, announcing the organization’s “2013 Proxy Resolutions and Voting Guide.” A quick read of the release and ancillary materials, however, reveals that these resolutions have very little to do with issues of religious faith and everything to do with the progressive political agenda.

The ICCR guide “features 180 resolutions filed at panies” that call on shareholders to “promote corporate responsibility by voting their proxies in support of investor proposals that advance social, economic and environmental justice.”

The ICCR boasts that “nearly one third” of this year’s resolutions (52) focus on lobbying and political spending, with the remainder aimed at “health care, financial and environmental reform.” The release ominously asserts: “Shareholders have a right to know pany resources are being used to impact elections and public policy, including regulatory legislation.”

Whatsoever the ICCR resolutions have to do with the respective tenets of their member denominations is left to the readers’ imagination.

Under the guise of faith-based “economic and social justice,” however, the ICCR is attempting to prevent corporations from engaging in entirely legal and ethical efforts to work on their shareholders’ and customers’ behalf. As noted previously, initiatives such as the ICCR’s are an effort to force corporations to disclose efforts on their part to ensure corporate sustainability and shareholder profitability – endeavors protected by the U.S. Supreme Court’s Citizens United ruling.

Forcing corporations to disclose donations to the American Legislative Exchange Council, lobbying firms, think tanks and trade groups, for example, flies in the face of U.S. law, and hinders these groups from exercising constitutionally guaranteed rights to work for the benefit of the corporations who create jobs and provide goods and services for the world’s citizenry.

All this presupposes corporations and the wealth, jobs, goods and services they generate are an inherent evil if found lacking the ICCR’s views on social, economic and environmental justice. Nothing could be further from the truth. Aside from a few admittedly bad actors, corporations strive to benefit society as a whole – failure to do so would assuredly result in panies winding up atop the dustbin of entrepreneurial history.

In any event, steering corporate policies to reflect ICCR’s progressive agenda would result in more of a secular rather than a spiritual victory. Such efforts, in Competitive Enterprise Institute President and Co-Founder Fred L. Smith’s words, have a tendency to transform private corporations into public utilities by forcing them “to perform whatever duties are politically attractive at any one time … To ‘socialize’ this process is to reduce the ability of individuals to advance their goals, placing the values of politicians as paramount.”

Hamstringing pany’s efforts to pursue less egregious regulatory enforcement through lobbying or draft legislation, for example, establishes more government authority not necessarily in the best interests of the corporation in question. Nor is it likely that politicians and bureaucrats understand fully the unanticipated negative consequences of realizing their goals. As Smith noted: “The corporation is an extremely valuable way of organizing large numbers of people to produce goods and services efficiently—that is, to create wealth. That wealth then flows into the hands of shareholders, workers, customers, and suppliers, who are then empowered to advance their own individual goals and values.”

The ICCR would do far better by following real religious authority rather than submitting to trendy secular tracts on what constitutes economic, environmental and social justice. Two papal encyclicals e to mind: Quadragesimo anno (Pius XI, 1931) and Centesimus annus (John Paul II, 1991).

While both works identify the proper societal role panies as working for mon good, they also acknowledge the necessity of the profit motive for all involved. Nowhere in either document, however, do the authors make a case for transparency of how corporations advocate in best interests of their shareholders and customers.

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
Another Run at the “Dominionism” Meme
In my last post, I rejected the contention by Michelle Goldberg and others that evangelical leaders such as Michelle Bachmann and Rick Perry are significantly influenced by the aims of the tiny Christian Reconstructionism movement. I tried to make the point that CR has a negligible political influence on evangelicals and that it is not honest to view evangelical office holders and candidates in the light of CR’s aims. The entire thing, I think, is a tar baby sort of...
World Youth Day: Pope talks profits and people
On his flight to World Youth Day in Madrid this morning, Pope Benedict XVI responded to a question about the current economic crisis. Not sure what the question was, but the well-respected Italian Vatican analyst Andrea Tornielli captured the reply. Here’s my quick translation of the Pope’s answer: The current crisis confirms what happened in the previous grave crisis: the ethical dimension is not something external to economic problems but an internal and fundamental dimension. The economy does not function...
Anthony Bradley: ‘Black and Tired’ at The Heritage Foundation
Next Thursday, Acton Research Fellow Anthony B. Bradley will give a talk at The Heritage Foundation on his latest book, Black and Tired: Essays on Race, Politics, Culture and International Development. In his book, Dr. Bradley addresses local and global disparities in human flourishing that call for prudential judgments connecting good intentions and moral philosophy with sound economic principles. Marvin Olasky has said of the work, Dr. Thomas Sowell, black and eighty years old, displays no signs of tiredness in...
Krugman: Aliens Worth More to Economy than Men and Women (VIDEO)
Paul Krugman made the mistake of over-sharing this past weekend when he told CNN’s Fareed Zakaria he thinks that the United States economy would benefit from a military build-up to fight made-up space aliens. He’s been defended as being fed up with Republican obstructionism, being desperate to make a point, or even being wholly pletely correct. He’s entirely wrong though, and his thinking (what there is of it) is an example of the kind of depersonalized economics that has cost...
Progressive Boot Firmly Planted on Ranchers’ Throats
More than a billion dollars has already been pledged to relieve victims of the drought-turned-famine ravaging the Horn of Africa. The stricken countries—Somalia in particular—do not have the technology and the infrastructure to deal with a major drought, and so in what is ing a regular occurrence, the West is stepping in with aid. Meanwhile back at the ranch, Texas and Oklahoma are suffering record droughts that are wiping out crops and taxing cattle businesses. Ranchers cannot rely on the...
If Corporations Are Making Your Child Fat, Run Crying to Mommy
The New York Times ran an op-ed yesterday by Canadian legal scholar Joel Bakan, the author of a new book titled Childhood Under Siege: How Big Business Targets Children.Bakan argues that the 20th century has seen an increase in legal protections for two classes of persons, children and corporations, and that one of these is good and one is terribly, terribly bad—mean, even. That furthermore, there has been a kind of inexorable, Hegelian clash between the Corporation and the Child,...
New Amsterdam Redivivus
As part of our ongoing engagement with the Protestant world, the Acton Institute has taken on the translation of Abraham Kuyper’s Common Grace, under the general editorship of Stephen Grabill and in partnership with Kuyper College. We’re convinced that renewed interest in the thought of Abraham Kuyper (1837-1920), and in fact rediscovering aspects of his thought that have been lost or misconstrued in the intervening decades, is critically important for the reconstruction of Protestant social thought. So it’s a big...
Religions’ reactions to financial realities
John Baden, chairman of the Foundation for Research on Economics & the Environment in Bozeman, Mont., wrote a column for the August 19 Bozeman Daily Chronicle about the Circle of Protection and Christians for a Sustainable Economy and how each has formulated a very different faith witness on the federal budget and debt debate. Baden says that the CASE letter to President Obama is “quite remarkable for it reads like one written by respected economists and policy analysts.” I attended...
Wringing Hands Over Dominionism
Michelle Goldberg has a column up at the aptly named Daily Beast letting us all know that we really need to worry about something called “Dominionism” which supposedly prevails among Michelle Bachmann, Rick Perry, and folks who support their campaigns. Reinhold Niebuhr once warned of the dangers of religious illiteracy. Here we have exhibit A. Goldberg claims Bachmann and Perry are “deeply associated” with this “theocratic strain” of Christian fundamentalism. Yes, they are probably so deeply associated with it that...
Work As Worship
Do you view the work you do each day as worship, or is it something you do to pass the time or merely collect a paycheck? Remember work is not only the actions you perform to obtain a pay check, but includes any action “people do to earn a living.” Signs indicate that evangelical practice is entrapped in a dangerous snare of limitation placence. By placing almost sole emphasis on Bible study, worship attendance, and giving/tithing — the churchly aspects...
Related Classification
Copyright 2023-2026 - www.mreligion.com All Rights Reserved