With the mountain of books and articles that have been written about business ethics, one wonders why nothing much has been written on what we might call shareholder ethics. I’m thinking of religious shareholder activists such as As You Sow and the Interfaith Center on Corporate Responsibility. As it turns out, these groups trade on the moral status of their respective members to further agendas seldom related to matters of religious faith.
Instead, the clergy and religious in shareholder activist groups dedicate themselves to temporal causes of a distinctly left-of-center stripe, including stifling corporate political speech in the wake of the U.S. Supreme Court’s Citizens United decision. According to Acton’s Rev. Robert Sirico:
Every annual meeting season, we watch as a small group of activist groups on the left such as As You Sow and the Interfaith Center on Corporate Responsibility submit proxy resolutions that demand disclosures of corporate public policy expenditures. This is done, these groups claim, in furtherance of a more ‘just and sustainable world.’ In fact, such resolutions are designed to first bully corporations into disclosing lobbying activities and then promptly turn the tables by conducting aggressive campaigns in the press to shame them. (more…)