Corporate challenge: Faith-based groups use their investments to influence big business

Alphabetically, they range from the Adorers of the Blood of Christ to the Wisconsin Coalition for Responsible Investment.

Members include the American Baptist Home Mission Society, Disciples of Christ Foundation, Church of the Brethren Benefit Trust, Domestic and Foreign Missionary Society of the Protestant Episcopal Church in the U.S.A., Evangelical Lutheran Church in America, National Council of Churches, Presbyterian Church, Reformed Church in America, Unitarian Universalist Association, United Church of Christ and United Methodist Church.

There are also numerous orders of Roman Catholic nuns, priests and health systems, as well as two Jewish groups, the Reform Pension Board and the Shefa Fund.

The more than 300 member faith-based organizations have a combined investment portfolio of over $110 billion, which they attempt to use to good things in corporate boardrooms.

The Interfaith Center on Corporate Responsibility, based in Manhattan, is headed by Sister of Mercy Patricia Wolf.

Members use their leverage as stockholders to influence corporate policy, she said. ICCR came into prominence through its campaign against infant formula marketing, which led to the Nestle boycott, and through its campaign for divestiture in South Africa.

James Gunning of Teaneck, a member of the board of directors and treasurer of the Unitarian Universalist Service Committee, is also a member of the board of the Interfaith Center, which he called an effective ecumenical effort.

It works because we emphasize the agreement and downplay the differences, he said. On the major issues, peace and justice, there is great agreement.

The center dates to the early 1970s, during the Vietnam War, when a number of religious groups came together to use their investment power with American corporations involved in providing weapons and other military products.

In their current list of program areas, the ICCR still lists Militarism and Violence as an issue that concerns the members. The other program areas are: Global Finance and Community Economic Development; Energy and the Environment, Global Corporate Accountability, International Health and Tobacco and Equality.