ATCHISON, Kansas—Among corporate America’s most persistent shareholder activists are 80 nuns in a monastery outside Kansas City. Nestled amid rolling farmland, the Benedictine sisters of Mount St.
ATCHISON, Kansas—Among corporate America’s most persistent shareholder activists are 80 nuns in a monastery outside Kansas City.
At a time when activist investing has become politically polarized, these nuns are no strangers to making a statement. Many of the sisters have doctorates. Most have worked professional jobs—their ranks include a physician, a canon lawyer and a concert violinist—and they have always shared what they earned.
They urged Netflix to implement a more detailed code of ethics to ensure non-discrimination and diversity on its board. “We wanted to be sure that we weren’t just collecting money to help ourselves at the detriment of others,” she said. The Benedictines have played a key role at ICCR for years, said Tim Smith, a senior policy advisor for the center. It can be discouraging work, where the needle only moves slightly each year, but he said the sisters “have the endurance of long-distance runners.”
“There’s not a protest she wouldn’t go to,” said Sister Anne Shepard, who rattled off McCracken’s past involving anti-war, anti-racism, union-backing demonstrations. At the core of much of what they do is the belief that the wealthy have too much, the poor have too little, and more should be shared for the benefit of everyone.“To me, it’s a continuation of Catholic social teaching,” McCracken said of their activist investing.
One of their top concerns these days is climate change, a frequent target of their shareholder resolutions.
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