Previously this week, The Wall Street Journal presented a list of “7 Things Investors Should Be Watching for a 2016 Unfolds.” While there’s much in Michael A. Pollock’s article to recommend it to readers who might’ve missed it, there’s also one significant omission – Number Eight, if you will: A Rise in Proxy Resolutions by Religious Shareholder Activists.
Shortly after reading the WSJ article, your writer received an email from the Interfaith Center on Corporate Responsibility, the “corporate God-flies” who mask an actual leftist political agenda with their supposed faith-based concerns over social issues related to climate change and corporate spending on lobbying and politics. ICCR’s email announces the group’s increased efforts to stymie the best interests of the companies in which they invest in 2016 – without mentioning how their activities also negatively impact fellow shareholders as well as company customers and employees. Yet ICCR is undeterred in its efforts in a year thus far beset upon by great economic uncertainty and volatility:
Shareholder proposals on climate change and corporate lobbying and political spending head the list of 257 resolutions filed by ICCR members at 174 companies in the 2016 proxy season. Over one-third of total proposals this year are climate-related, including those related to corporate lobbying, revealing how climate change is viewed as a major risk for investors and engagements on how companies are mitigating these risks are taking on greater importance.