See Proxy Advisers Get Religion: ISS and Glass Lewis will follow the bishops when voting faithful Catholics’ shares by Andrew Abela and Nicholas Schmitz. Mr. Abela is dean and Mr. Schmitz holds a chair in finance at the Catholic University of America’s Busch School of Business. Excerpts:
"proxy advisers ISS and Glass Lewis . . . have agreed to work with our university to help Catholics honor their faith in their investments."
"The U.S. Conference of Catholic Bishops has long offered advice for investing."
"Catholics shouldn’t invest in “companies, securities, or investment funds that produce a significant amount of revenue from immoral activities.” Strategies ought to “protect life, promote human dignity, act justly, enhance the common good, and provide care for the environment."
"guidelines directly based on those issued by the bishops. ISS and Glass Lewis will offer them to investors for use in the shareholder resolution season that begins next spring."
"Every investor who opts into this service can be confident that his proxy votes will be consistent with his Catholic beliefs. If a shareholder resolution urges the company to pay for its employees to obtain abortions across state lines, the proxy advisers will recommend voting no."
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