ST. LOUIS, Mo. (KMOX) - At one time investors with a social conscious pulled out to make a point. Now some groups say it’s better to leverage your money than divest.
“If you just withdraw, you don’t have a voice,” explains Myles McCabe, Director of Justice, Peace and Integrity of Creation for the Marianists. McCabe is on the board of the Midwest Coalition for Responsible Investment — MCRI — an organization composed of more than a dozen religious communities as well as several investment companies and individuals.
“You know the bottom line is important for us. But it’s important for us to try and do the right thing, especially if we can do something right and do something wrong and have the same financial return,” explains McCabe. Using their spiritual beliefs as the foundation, the MCRI basically advocates for better management of the environment and better treatment of people by corporations.
But they don’t preach. They do their homework, utilizing shareholder resolutions and formal requests to open dialogue.
Coalition Coordinator, Sister Barbara Jennings, says companies don’t always take them seriously at first. “Kind of pat you on the head and say ‘oh sister, thank you so much for coming’, but they soon find out that we know what we’re talking about.”
Can you be true to your religious beliefs and still play the stock market?
Listen as KMOX’s Megan Lynch has more on the MCRI.
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