Then, if the proposal meets a stringent list of federal requirements, it's eligible for a vote at the company's annual meeting. One share gets one vote. Like many other religious communities, they started buying stocks in the 60s to support their elder members. But their religious values and commitment to working for the common good taught them that they couldn't just be passive owners, making money without addressing the consequences of how it was being made. Over lunch at a busy nearby restaurant, Sister Barbara Aires says for her, the issue is simple.
Corporations have tremendous power, even more so than governments today.
The nuns and other religious investors soon realized they could use their investments. They could use the power of their ownership to push corporations to be more socially responsible. What they started grew into a movement. By one recent measure, these investment activists now control close to a trillion dollars in stock, and file more than 100 shareholder resolutions a year. We've looked at military issues and its effect on the use of natural resources.