10 Fortune 500 Showdowns This Year With (Religious) Activist Investors – TheStreet

For the past four decades, the Interfaith Center on Corporate Responsibility has lobbied Fortune 500 companies to adopt policies it believes are better both for shareholders and the rest of the world. Its first proposal in 1971 was that General Motors (GM) cease business in South Africa until apartheid was abolished. 

Like most shareholder proposals, submissions from ICCR’s network of over 300 religious organizations often fail to garner enough votes to pass. That’s not to say they go unheeded, though: The ICCR and its member organizations have gained access to the CEOs of top companies.

In 2014, one member group, the Sisters of Charity of Saint Elizabeth, helped convince JPMorgan Chase (JPM) — a bank that had a string of scandals following the financial crisis — to issue a report on standards and best practices to prevent further issues. 

Must Read: What Millennials Want Most From Their Banks Isn’t What You Think

This year, the ICCR has submitted 227 resolutions on topics from corporate governance to climate change, genetically modified foods, and human rights.

via 10 Fortune 500 Showdowns This Year With (Religious) Activist Investors – TheStreet.

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