Religious shareholder activists continuously sing from a counterintuitive hymnal that asserts genetically modified organisms somehow are detrimental to the environment, the financial well-being of the companies relying on GMOs and those people who eat foods containing GMOs. For example, religious shareholder activist group As You Sow boasts on its website:
As You Sow has organized an investor letter sent to the top 50 corporate opponents of GMO labeling ballot initiatives in California (Proposition 37) and Washington (Initiative 522). The letter to public companies was signed by 45 wealth management and investor advocacy groups representing $36 billion, while the letter to private companies was signed by 38 groups representing $18 billion.
The letter describes the American public’s deeply unfavorable opinion of corporate money in politics, and the backlash suffered by companies that spent corporate funds to oppose Proposition 37 and Initiative 522. Investors are concerned that draining corporate funds to oppose these initiatives is especially unproductive as GMO labeling laws and bans continue to gain momentum, including a recent labeling law in Vermont and two countywide cultivation bans in Oregon.