Socially Responsible Investment WIN
A huge victory, more than 10 years the making, was won on May 26 when 55.6 percent of the ExxonMobil’s stockholders voted to pass a resolution asking the company to disclose its trade association payments used for lobbying. The resolution was led by United Steel Workers and cofilers Benedictine Sisters of Mount St. Scholastica, Home Missioners of America, The Sisters of the Holy Family, Sisters of St. Agnes, School Sisters of Notre Dame Cooperative Investment Fund, Gwendolen Noyes and Oneida Tribe of Indians Trust Fund for the Elderly. The Sisters of St. Agnes have been consistent cofilers for several years.
“Shareholders face a dark money blind spot when the company fails to disclose its trade association payments used for lobbying, especially when these lobbying efforts contradict with ExxonMobil’s public position,” said Ricky Brooks, a member of USW Local 13-2001 who introduced the resolution. “Disclosure of the company’s payments to trade associations and social welfare groups that influence public policies will allow shareholders to assess the company’s management of risks.”
A brief mention of this win and the big climate win for religious shareholder advocates can be found in this National Catholic Reporter EarthBeat article.