From the Editor
In 2006, Interfaith Center on Corporate Responsibility (ICCR) initiated a campaign with 70 companies to win health care reform, which contributed to the passage of the Affordable Care Act in 2010. In 2018, Dick’s Sporting Goods announced that the company would no longer sell firearms to anyone under 21 or sell assault-style weapons. In 2019, JPMorgan Chase announced that it would no longer invest in private prisons.
These wins—along with dozens of other similar changes— weren’t just done out of the kindness of chief executive officers’ and corporations’ hearts. They were the result of tireless advocacy on the part of shareholders, including many from faith-based organizations.
In this issue of AMOS, we explore the power of shareholder advocacy—a strategic form of activism that challenges corporations to make more ethical decisions. At its core, shareholder advocacy is rooted in the idea that those who hold financial stakes in a company should have a say in how it operates. This strategy has been used to hold corporations accountable on issues ranging from climate change to human rights to economic justice.
This issue lays out the history of shareholder advocacy— both its roots in ending apartheid South Africa as well as the development of organizations like the ICCR and IPJC’s Northwest Coalition for Responsible Investment (NWCRI). Other articles highlight real campaigns where shareholder advocacy has led to meaningful change—both the examples I cited above and others. These stories remind us that advocacy does not always take the form of protest in the streets; sometimes, it happens in boardrooms and shareholder
Episcopal Church files historic resolution calling on General Motors to withdraw from South Africa due to apartheid.
1971
Founding of ICCR
ICCR files its first resolution on sexist images of women in advertising.
meetings, where persistent voices push for ethical policies and corporate accountability. Finally, this issue lays out the challenges of this work, including the obstacles posed by corporate resistance and shifting regulations.
This issue wouldn’t have been possible without the assistance of Sister Judy Byron, OP: Not only did she write many of the articles that appear here, but she also helped with photo research and putting together a timeline of shareholder advocacy. As a longtime leader at IPJC, Sister Judy has dedicated decades to advancing shareholder advocacy as a force for the common good. She has played a pivotal role in helping religious communities and faith-based investors leverage their financial power to demand corporate responsibility. Her tireless commitment has shaped not only this issue but also the broader movement of shareholder advocacy.
As we reflect on the impact of this type of activism, we are reminded that justice work takes many forms. It can be prophetic and bold; it can also be patient and persistent. In all its expressions, it requires a vision for a more just world and the belief that change is possible, even in the spaces where money and power converge.
We hope this issue inspires you to think about the ways financial influence can be a tool for justice and encourages you to support efforts that demand ethical corporate practices. Perhaps that means getting your own community involved in ethical investment and shareholder advocacy. But it might also look smaller: We all have the opportunity to make financial choices that reflect our religious and ethical commitment to build the kingdom of God.
—Emily Sanna, Editor
ICCR files its first resolution on high U.S. drug prices. Catholic investors launch a campaign on the connection between increased infant formula use and rising infant mortality rates in developing countries.
ICCR’s first resolution on “planetary (global) warming.”
Fr. Crosby invited to our 1993 IPJC Socially Responsible Investment Conference, with IPJC founders Linda Haydock, SNJM and Judy Byron, OP.
Founding of NWCRI The first resolution at Wal-Mart addressing gun sales.
Pioneering resolutions at MacDonald’s call for “smoke-free” facilities. 1994
