Information about this center is no longer updated. This data was last updated on 5 May 2016.

Phone: 212-870-2295
Email: info@iccr.org
Website: http://www.iccr.org/

Inspired by Faith, Committed to Action

The motto of the Interfaith Center on Corporate Responsibility (ICCR) summarizes the drive of its 275 members: faith-based institutional investors ranging from economic development funds to national denominations to religious communities. This thirty-year-old international coalition focuses not only on investing in socially responsible corporations, but also using these investments “to change unjust or harmful corporate policies, working for peace, economic justice and stewardship of the Earth.”[1]

Seeking More than a Financial Return

Founded in 1971 in response to the question of church investment in the Vietnam War, ICCR has challenged production of nuclear weapons, investment in South African apartheid, and foreign military sales. Today their initiatives include global warming, corporate governance, environmental racism, and many more causes.[2] ICCR’s membership includes religious communities, pension funds, healthcare corporations, foundations, and dioceses, including Christian, Jewish, and non-denominational groups. The combined portfolio of these members is estimated at $110 billion. Faced with the question of ‘responsible stewardship’, ICCR members seek to merge their faith-based values with investment decisions, pressing companies to be socially and environmentally responsible. Investments are made in a manner that reflects the faith of the investors: in other words, promoting the values of peace, economic justice, and stewardship of the universe.[3] Choosing a Course of Action The ICCR Governing Board, elected by and from the faith-based members, determines which initiatives will be priorities for the Center. They consider: is the issue important as a social justice concern? Do ICCR members have policies that mandate action? Would it be irresponsible not to act? Is there a way to address the issue through changing corporate conduct?[4] Once an initiative is set, a working group made up of members from the ICCR is established. These working groups set goals for the initiative and publish resource lists on ICCR’s website. Current working groups are: Access to Health Care, Contract Supplier System, Corporate Governance, Enabling Access to Capital, Environmental Justice, Global Warming, Promoting Human Rights, Violence & Militarization of Society, and Water and Food.

Acting on Initiatives: Persuasion and Pressure

ICCR members act on the initiative, not simply by selling stock in a company that operates under harmful principles, but by using “the power of persuasion backed by economic pressure from consumers and investors to hold corporations accountable.”[5] This persuasion can take several forms. For example, in 2004, the Global Warming working group reached agreements with oil and gas companies to report on their greenhouse gas emissions and strategies for minimizing climate risk. The Environmental Justice working group and the Human Rights working group collaborated in drafting a paper on "free prior informed consent" for communities in locating potentially hazardous factories. Letter-writing campaigns were organized regarding genetically modified food, recommendations for the UN’s Special Representative for Business and Human Rights, and corporate governance.[6] In February 2005, Wal-Mart CEO Lee Scott met with over eighty institutional members of ICCR. They raised concerned about Wal-Mart's business model, and explained the necessity of socially responsible business practices, including quarterly financial returns, environmental accountability, and awareness of Wal-Mart's impact on regions of the world where products are manufactured. Mr. Scott responded to these matters and others involving employee issues, sustainability, and community concerns.[7] Several shareholder resolutions were put forward by ICCR members to Wal-Mart shareholders during 2005, requesting that Wal-Mart produce reports on its sustainability practices, equal employment opportunities, and distribution of equity compensation.[8] In addition, all working groups endeavor to introduce shareholder resolutions in many corporations; in 2004, hundreds of shareholder resolutions were filed by ICCR members. Resolutions included issuing sustainability reports of social, environmental, and economic performance; requiring shareholder approval for offering very high pay to CEOs; requiring suppliers to conform to UN International Labor Organizations core standards; issuing reports on keeping prescription drug price increases within or below the rate of inflation; and implementing a sexual orientation non-discrimination policy.[9]

Publication, Investment, and EthVest

ICCR also offers a variety of publications, including articles, briefs, presentations, and books. The newsletter Corporate Examiner is published ten times a year and examines corporate responsibility actions and trends. ICCR members also make investments to promote economic development in low-income and minority communities; current community development investments exceed $900 million.[10] In September 2005, ICCR launched EthVestSM, a new online subscription database containing news, data, and intelligence on ethical investing activities. EthVest is intended for institutional investors and their advisors, as well as scholars, economists, researchers, and not-for-profit management. ICCR Executive Director Patricia Wolf stated in a press release on September 26, 2005, “It is our intention to create more awareness of and support for ICCR shareholder initiatives by making information about member activities more widely known in the capital markets, and in the corporate community.”[11] Looking Ahead Many new socially responsible investment groups have started worldwide, religious and nonreligious alike. However, ICCR and the socially responsible investing movement face many challenges. Although companies now can be pressured to take socially responsible action, the final decisions are still determined solely by monetary concerns. Ultimately, socially responsible investing hopes to redefine the notion of the 'beneficiary' of investment, so that not only the shareholder, but the employees of a corporation, the community that hosts its facilities, the society and government that regulate it, and the global system of which it is a part are all recognized as important stakeholders in the decisions a corporation makes.[12]   [1] http://www.iccr.org/. Main website of the Interfaith Center on Corporate Responsibility. Retrieved November-December 2005. Updated 2016. ↩︎ [2] 2004-2005 ICCR Annual Report. Published in September 2005. Retrieved December 6, 2005. [Editor's note 2016: past Annual Reports no longer available online. For more information on ICCR's history, see http://www.iccr.org/about-iccr/history-iccr.]↩︎ [3] http://www.iccr.org/. Main website of the Interfaith Center on Corporate Responsibility. Retrieved November-December 2005. ↩︎ [4] 2004-2005 ICCR Annual Report. Published in September 2005. Retrieved December 6, 2005. [Editor's note 2016: past Annual Reports no longer available online. For more information on ICCR's governing board, see http://www.iccr.org/about-iccr/governance.]↩︎ [5] http://www.iccr.org/. Main website of the Interfaith Center on Corporate Responsibility. Retrieved November-December 2005. ↩︎ [6] 2004-2005 ICCR Annual Report. Published in September 2005. Retrieved December 6, 2005. [Editor's note 2016: past Annual Reports no longer available online. Contact ICCR directly for archived information on 2004 activities.]↩︎ [7] Ibid. ↩︎ [8] 2005 Socially Responsible Shareholder Resolutions. Retrieved December 6, 2005 from http://www.iccr.org/shareholder/proxy_book05/05statuschart.php. [Editor's note 2016: For current information on ICCR Shareholder Resolutions see http://www.iccr.org/our-approach/shareholder-engagement-101/shareholder-resolutions.] ↩︎ [9] Ibid. ↩︎ [10] http://www.iccr.org/. Main website of the Interfaith Center on Corporate Responsibility. Retrieved November-December 2005. ↩︎ [11] ICCR Launches EthVest Database. Press release from September 26, 2005. Retrieved December 6, 2005 from http://www.iccr.org/news/press_releases/2005/pr_ethvest092605.htm. [Editor's note 2016: Press release currently available from PR Newswire.] ↩︎ [12] Discussion by Joan Bavaria, Amy Domini, and Timothy Smith at ICCR panel, "Socially Responsible Investing: A Look Ahead", November 3, 2005, Boston. ↩︎