The Presbyterian Church (U.S.A.) Office of Public Witness (OPW) is calling on members of the church to speak out against a proposed Securities and Exchange Commission rule that would limit the power of small investors to file shareholder proposals and bring concerns to corporate managers and boards.
The Committee on Mission Responsibility through Investment of the Presbyterian Church (U.S.A.) has submitted comments to the Environmental Protection Agency, opposing a plan by the Trump administration to roll back methane gas restrictions on the oil and natural gas industry.
The best way to advocate for change with publicly-traded corporations is to have direct access to high-level leaders, says Rob Fohr, Director of Faith-Based Investing and Corporate Engagement for the Presbyterian Church (U.S.A.).
Members of the Committee on Mission Responsibility Through Investment (MRTI) spend much of their time engaging corporations with whom the Board of Pensions and Presbyterian Foundation has about $12 billion invested. Its shareholder engagement process seeks to get companies to comply with General Assembly corporate criteria on environmental responsibility, peace, justice for people of color and for women, and other directives.
“What do you think?” Rob Fohr, director of Faith-Based Investing and Corporate Engagement for the Presbyterian Church (U.S.A.), asked after surveying the multi-room warehouse packed with household supplies.
“I think there’s a lot to do,” replied Carl Horton, coordinator of the Presbyterian Peacemaking Program.
If investors demanded it, would companies change their practices to benefit the environment and slow the effects of global warming? The Presbyterian Church (U.S.A.) Office of Faith-Based Investing and Corporate Engagement believes that this strategy can work, and that companies encouraged to do so may improve their practices through dialogue. The Presbyterian Board of Pensions and the Presbyterian Foundation are helping bolster this effort by paying for an additional staff person in this office. The staff person, Katie Carter, started work in 2017.
The Committee on Mission Responsibility Through Investment (MRTI) says 2017 was a productive year in its engagement with corporations. MRTI filed or co-filed seven shareholder resolutions in the 2017 proxy season, with oil, gas and utility companies, and one resolution with Wells Fargo.
Presbyterians attending Big Tent in St. Louis had an opportunity to hear the pros and cons of divesting from fossil fuel companies. The Presbyterian Mission Agency’s Office of Faith-Based Investing and Corporate Engagement hosted a workshop bringing together representatives to discuss when and if divestment should take place.
If you’re fortunate to have a 401(k) or IRA but know little about investments, chances are you spend a minimal amount of time reviewing your quarterly statement — a quick glance at the numbers to see if they’re up or down. But do you really know where your hard-earned dollars go?
The Presbyterian Church (U.S.A.) and nearly three dozen faith-based investors are encouraged by shareholder approval yesterday of a proposal urging ExxonMobil to better assess the company’s climate change related risks.
