Posts tagged with: Interfaith Center for Corporate Responsibility

Screen-Shot-2014-12-16-at-4.09.38-PMIt could be argued that Exxon is actually an energy company, but it’s still an energy company that knows where its bread is buttered. Oil and gas is the winning game for this company, not solar.

Thus wrote Jeff Siegel this week on the Energy & Capital website. Siegel was referring to Exxon Mobil Corporation’s thumping of shareholder resolutions by As You Sow, the Interfaith Center for Corporate Responsibility and other religious groups intended to push ExxonMobil into naming an environmental scientist to the board and issue a report on the environmental impact of the company’s hyraulic-fracturing operations. Another study to be pitched on the growing pile of fracking reports issued regularly by industry and regulators?

Siegel is as clearheaded a liberal writer as I’ve come across on these matters. He writes:

Again, I don’t see the benefit here for shareholders.

Those who oppose fracking have plenty of this data, anyway. So to mandate such a report seems like a waste of time, particularly if the report indicates no negative side effects. You think anyone who opposes fracking would believe anything included in that report?


Our religious shareholder activist buddies in As You Sow and the Interfaith Center for Corporate Responsibility can welcome Neil Young in their ill-advised battle against genetically modified organisms. Seems ol’ Shakey – as Young is known to his friends, family and hardcore fans – has released a song that could’ve been written from all the GMO falsehoods and scare tactics spread by AYS and ICCR, including:

More than 60 percent of all processed foods available today contain GE ingredients such as soy, corn, or canola; and because in the U.S. there is no mandate that GE food be labeled, most consumers are most likely unknowingly consuming them. ICCR members call on food and beverage companies to apply the precautionary approach in decision making until such time as science can rule out any harmful side-effects and further advocate for the consumers’ right to know through proper labeling of GMO ingredients in all products. Moreover, seed and chemical companies are asked to monitor and disclose potential health effects, particularly unknown allergenic effects; environmental impacts of GMOs; and respect for and adherence to seed saving rights of traditional agricultural communities. – ICCR

Genetically Modified Organisms (GMOs) are plants or animals that have had their DNA modified by laboratory processes to have specific characteristics. When the first genetically modified (GM, also known as genetically engineered, GE) crops were introduced, the biotechnology industry claimed they would increase crop yields, decrease pesticide use, improve nutrition, and more. However, in the fifteen years since GMOs were first commercialized, they have delivered negligible benefits and raised significant environmental, public health, and food security concerns. (more…)

This past week, The Huffington Post’s Paul Blumenthal offered up a piece of agitprop masquerading as trenchant political analysis. It seems – well, not seems inasmuch as Blumenthal pretty much declares outright – that he isn’t much of a fan of the U.S. Chamber of Commerce’s antipathy toward shareholder proxy resolutions promoting political spending disclosure policies. Likewise, writes Blumenthal, three other “usual suspects” – the Business Roundtable, the National Association of Manufacturers and The Wall Street Journal – are aligned with the Chamber against all that the left considers right and proper regarding corporate political transparency and disclosure.

In the article, tellingly titled “The Chamber of Commerce Is Fighting Fiercely to Stop the Scourge of Corporate Transparency,” Blumenthal writes as if guided by the hands of the Center for Political Accountability’s Bruce Freed and the religious activists at As You Sow and the Interfaith Center for Corporate Responsibility:

This spring, shareholders in more than 100 companies will introduce resolutions calling for greater disclosure of corporations’ political and lobbying activity. Six major companies — Dean Foods, Eastman Chemical, H&R Block, Marathon Oil, U.S. Steel and Valero Energy — have already reached agreement with New York state Comptroller Thomas DiNapoli, who oversees the third largest pension fund in the nation, to adopt political spending disclosure policies in exchange for the comptroller’s office withdrawing its resolutions.


Should corporate donations to political causes remain private or shouldn’t they? Your writer would argue for the former as he holds the U.S. Supreme Court nailed it with its Citizens United decision. Progressive shareholder activists, naturally, disagree.

Except, that is, when incredible secrecy suits progressive social and political ends. The Interfaith Center for Corporate Responsibility, for example, asserts Citizens United is the worst kind of travesty against all things they desire made transparent – as does ICCR member Walden Asset Management.

While “dark money” corporate donations give ICCR and WAM the Screaming Mimi’s, both groups are quiet as church mice when it comes to secretive funding of such progressive agendas as lesbian, gay, bisexual and transgender rights. For example, ICCR and WAM haven’t uttered a peep concerning software magnate Tim Gill’s advocacy group OutGiving, a highly secretive group of millionaires who funnel money into campaigns supportive of LGBT causes and candidates likely to support them. (more…)

Divestment-600-AEA-1Your faithful correspondent last week exposed the fossil-fuel divestment endgame of religious shareholder activists. As You Sow President Danielle Fugere sees her group’s activities as awareness-raising exercises for climate change, but AYS’s alignment with environmentalist and divestment firebrand Naomi Klein suggests they’d settle for nothing less than nationalizing oil companies. This week, I’m happy to report another group frequently called to task in this space, the Interfaith Center on Corporate Responsibility, opposes the AYS divestment onslaught. Reporting in last week’s Wall Street Journal, Gregory J. Millman writes:

An organization of faith-based and socially responsible investors is pushing back against the call for divestment from fossil fuel companies. At its Winter Conference Wednesday, the Interfaith Center for Corporate Responsibility, which claims 300 member organizations controlling $100 billion in invested capital, called instead for more shareholder engagement with such companies.

“Divestment is one step but a blunt instrument that leaves investors with no voice at corporate tables,” said Laura Berry, executive director of the ICCR.


max_600_400_democracy-allianceWhen it comes to political and lobbying spending, it’s a mixed-up, muddled-up, shook-up world, to quote the Kinks’ Ray Davies. Leftist organizations such as the Center for Political Accountability, the Interfaith Center for Corporate Responsibility, and As You Sow seemingly check the closets and under the beds each night to ensure corporations aren’t exercising their First Amendment rights to freely engage in the political process. These shareholder activist groups work together and individually to stifle corporate speech by submitting proxy resolutions to companies in which they invest. These resolutions request companies to publicly divulge spending on lobbying and political campaigns as well as corporate contributions to such nonprofit advocacy groups as the U.S. Chamber of Commerce.

But when it comes to progressive billionaires contributing to liberal causes and candidates, CPA, AYS and ICCR are conspicuously silent. What’s the deal?

As noted by CPA’s Bruce Freed on the AYS website:

‘Dark money’ spending by third-party political organizations poses an even more serious risk to companies as they face growing pressures to contribute. To address the threat, the Center for Political Accountability (CPA) and its shareholder partners will be filing resolutions at more than 50 companies in the 11th year of CPA’s advocacy and engagement effort. (more…)

cummings275widthOne should always worry when dollar signs replace the letter “S” in discussions related to campaign finance and theology. For example, the title of Auburn Theological Seminary’s inaugural entry in its Applied Theology Series, “Lo$ing Faith in Our Democracy,” leaves little doubt there’s an unhidden agenda lurking within.

Auburn Theological is a seminary for continuing education for clergy. It doesn’t grant degrees, but seems to fancy itself a think tank of sorts. If the “scare dollar sign” in its Applied Theology title doesn’t give it away, perhaps the funding of the project will. According to the seminary’s website, the study “was funded in large part” by the Nathan Cummings Foundation (NCF), which is “rooted in the Jewish tradition and committed to democratic values and social justice.”

Along with As You Sow and the Interfaith Center for Corporate Responsibility, NCF is at the forefront of religious shareholder activists pushing progressive agendas, including remedying the U.S. Supreme Court’s Citizens United decision. (more…)