January 18, 2018, Adrian, Michigan – The General Council of the Adrian Dominican Sisters issued the following statement in opposition to President Donald Trump’s expansion of offshore oil and gas exploration.
Statement of Adrian Dominican Sisters on Trump Administration’s Expansion of Offshore Drilling
We are alarmed by the Trump Administration’s decision to open federal waters to new offshore oil and gas exploration in the Arctic, Atlantic, and Pacific Oceans, and the Gulf of Mexico. Lifting the ban on new offshore drilling makes no sense as our nation reels from the present impacts of climate change with record-freezing temperatures, unprecedented wildfires, and crippling hurricanes. Governors of coastal states also fear the potential negative impact on tourism, fisheries, and recreation threatened by the specter of oil spills like the Deepwater Horizon rig disaster in 2010 that killed 11 people and devastated the Gulf Coast. This move is all the more alarming as the Trump Administration rolls back oil rig safety regulations put in place after the Deepwater disaster.
As women of faith concerned about the degradation of God’s creation and the future of humanity, we urge elected leaders to oppose this reckless unraveling of environmental protections and take legislative steps to put the nation on the path of a clean, renewables-based economy.
April 7, 2017, Adrian, Michigan – Shareholders in public corporations have a unique privilege, opportunity, and responsibility: to use their proxy ballots to shape the values and decisions of those corporations.
That was the message of Adrian Dominican Sister Corinne Florek, OP, Executive Director of the Religious Communities Investment Fund, in a live-streamed April 3 talk, “How One Checkmark Can Influence Corporate Policy.” Her address was given in the auditorium of Weber Retreat and Conference Center on the Motherhouse campus of the Adrian Dominican Sisters.
She noted the strong economic influence that corporations carry: of the 150 largest economic entities, she said, 87 are corporations. Some 91 million U.S. adults own some stock, she noted, adding that most throw away or recycle their proxy votes rather than voicing their values.
“If you own shares, you have a voice – and I’m here today to ask you to use your influence to improve corporate decision-making and creating change in the issues you care about,” Sister Corinne said. “After all, investments are your money and should be working for you.”
Sister Corinne encouraged individual shareholders to consider the values they support and the industries they would like to avoid supporting, and to ask their financial advisers to craft a portfolio that reflects these choices. Then, as individual investors, they have the right to guide the corporation’s decisions through their proxy vote.
“Proxy is just another name for a ballot that contains resolutions that are up for a vote,” Sister Corrine explained, adding that proxies also include a slate of candidates running to serve on the corporation’s Board of Directors. Resolutions can deal with issues such as environmental impacts and disclosure of the corporation’s lobbying expenses and treatment of workers.
If shareholder resolutions receive support of 3 percent of the proxy voters, the corporation will remain in dialogue about those issues. “The proxy voting is the incentive for the corporation to stay in the dialogue,” Sister Corinne explained. When shareholders don’t vote at all, their votes are considered to be in favor of the view of the corporation’s management rather than of shareholders who are trying to make changes, she added.
Using proxy voting to help bring more justice into the economy is not a new practice. Sister Corinne noted that the Adrian Dominican Sisters have been involved in economic justice through corporate responsibility for more than 40 years through the Congregation’s Portfolio Advisory Board (PAB). The Congregation is also working with hundreds of other faith-based organizations, members of the Interfaith Center on Corporate Responsibility (ICCR), to ensure that the corporate world reflects values of justice, care for the environment, and concern for workers and low-income people.
A panel of Adrian Dominican Sisters spoke on their own experience of voting proxies for the Congregation. Sisters Frances Lombaer, OP, Joan Marconi, OP, and Thérèse Haggerty, OP, encouraged listeners to vote their proxies, noting that the process becomes easier with practice. “We do proxy voting because we want to support the choices that the Congregation makes through the PAB, our Portfolio Advisory Board, Sister Thérèse said. “These choices are in line with our vision statements.”
Sister Corinne concluded her talk by giving investors some ideas on how they can both diversify their portfolio and make a difference in the world.
“Please join us in this effort to create more justice in our economy,” Sister Corinne concluded.
To watch her presentation, click here.