(ZENIT News / Kansas City, 08.23.2024).- Nestled amidst the rolling farmland outside Kansas City, a unique group of activist investors is making waves in the corporate world. This unlikely force comprises 80 Benedictine nuns from Mount St. Scholastica Monastery, who are taking on major corporations with a blend of faith and financial influence.
The sisters, led by Sister Barbara McCracken, have emerged as unexpected critics of some of the largest players in the business world, including Google, Target, and Citigroup. Their agenda covers a broad spectrum of issues, from demanding stricter oversight of artificial intelligence to advocating for better pesticide regulations and supporting indigenous rights.
«We’re like a tiny fly in their soup,» McCracken said, reflecting on the challenges faced when challenging these giants. Despite their modest size, their impact is anything but small. The sisters have leveraged their investments not just to align with companies that reflect their religious values, but also to challenge those that fall short. Their approach involves holding shares in companies with problematic practices, allowing them to propose shareholder resolutions aimed at effecting change.
This spring and summer, the nuns took their activism to annual shareholder meetings, wielding their influence with investments as small as $2,000. Their resolutions ranged from urging Chevron to re-evaluate its human rights policies to demanding greater transparency from Amazon regarding its lobbying expenditures. They also pressed Netflix to adopt a more robust ethics code to ensure diversity and non-discrimination on its board and called for pharmaceutical companies to reconsider patent practices that could inflate drug prices.
The sisters’ investment journey began in the 1990s, driven by the need to fund the care of their aging members. Sister Rose Marie Stallbaumer, who managed the community’s finances for years, emphasized their commitment to ethical investing. “We wanted to be sure we weren’t raising money just to help ourselves at the expense of others,” she said.
Faith-based shareholder activism is not new; it traces back to the 1970s when religious groups advocated for divestment from apartheid-era South Africa. In 2004, Mount St. Scholastica joined the Benedictine Coalition for Responsible Investment, led by Sister Susan Mika. The coalition works closely with the Interfaith Center on Corporate Responsibility (ICCR), which coordinates shareholder resolutions and collaborates with various religious groups to promote social justice.
Tim Smith, a senior policy advisor at ICCR, praises the Benedictine sisters for their tenacity. “Their endurance is like that of long-distance runners,” he said, acknowledging the slow but steady progress they make. While their resolutions are rarely approved and even less frequently binding, they serve as vital educational tools and raise awareness within corporations. Over time, support for their proposals has increased, with some gaining significant backing.
As environmental and human rights issues gain traction, the sisters’ efforts have met with both support and criticism. Some view their activism as too liberal, partly because their community does not lead the anti-abortion movement, though they adhere to Church teachings on the subject. Instead, they focus on other pressing issues, such as climate change—a major concern for them, given their ecological initiatives on their 53-acre property. This includes composting, solar panels, community gardens, and beekeeping, which yielded 800 pounds of honey last year.
Despite their age—Sister McCracken is nearly 85—the sisters remain steadfast. They reject the idea of retirement, preferring to continue their work as long as they can contribute meaningfully. “We don’t use that word,” McCracken says with a smile. “If we still have our wits about us, we just keep going.”
Mount St. Scholastica’s blend of faith, activism, and investment demonstrates how even the smallest voices can challenge and influence the largest corporations. Their ongoing efforts serve as a reminder of the power of dedicated individuals to drive meaningful change from unexpected places.
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