Hoo boy…the circus is coming to town. Paris is hosting the Conference of Parties (COP21) in December, that is, and the Big Top of big-government solutions to climate-change claims will, of course, include shareholder activists, many of them dressing up their progressive “sustainability” agendas with lots of churchy talk.
These activists are closely linked in a broad religious and secular campaign that in fact reduces shareholder value in support of “social justice” and other such ideological abstractions. For example, the Interfaith Center on Corporate Responsibility includes Boston Common Asset Management, LLC among its roster of Associate Members. According to its website,
Boston Common Asset Management is an experienced investment manager and leader in global sustainability initiatives. The firm’s unique investment process enhances conventional investment analysis with its proprietary Environmental, Social, and Governance (ESG) framework. The firm’s overall goal is to preserve and build capital by constructing diversified portfolios of high quality, sustainable stocks, with a keen focus on valuation, and to thereby outperform not only over a market cycle, but to achieve this with greater consistency and less volatility than market benchmarks.
Readers, please, feel free to scoff. It was impossible for your writer to refrain from chortling himself, and his bathrobe is still moist from the coffee snorted, in the manner of the late Danny Thomas, down the front. For those not in on the joke (here’s a clue for you all: I boldfaced the punch line above), I give you this, from an essay by BCAM’s Lauren Compere published Wednesday at the Huffington Post: (more…)