The 2024 shareholder engagement season has already yielded significant victories for Christian investors – God is on the move! Along with my colleagues and friends who I serve alongside on the Viewpoint Diversity Score Advisory Council and the tireless work of Tim Schwarzenberger, CFA®, Director of Corporate Engagement here at Inspire Investing, we are overjoyed to report that our gracious God has allowed us to inspire transformation at some of the largest companies in tech and finance!  

As reported by our colleagues at Alliance Defending Freedom:

• The largest bank in America, Chase, removed its “social risk” policy after our shareholder campaign against it and responded to our Index.
• 24 AGs, 18 state financial officers, and 100 investment advisors with over $250 billion in assets under management wrote in support of our de-banking shareholder proposal to proxy advisors ISS and Glass Lewis.
• Our efforts spurred proxy advisor ISS to issue guidelines that will allow conservative and Christian investors to vote their fiduciary interest and values after this year, which could ultimately mobilize billions (perhaps trillions) of dollars of capital.
• Index participation more than doubled – 5 companies participated and many more expressed interest in participating.
• We went 3-0 at the SEC defending our proposals against challenges from Apple, Wells Fargo, and Charles Schwab.
• Shareholder support for our proposals has tripled since last year. We authored and helped our partners file nearly 30 resolutions covering de-banking, DEI, and digital censorship.

Source: The Alliance Defending Freedom – Viewpoint Diversity Score 2024 Shareholder Season Snapshot

Inspire Investing played a significant role in each of these victories. During this past shareholder season we filed more shareholder resolutions, conversed with management at more corporations, supported the resolutions of our coalition partners, and are prepared to increase that even more next proxy season as we speak biblical truth to corporate power for the glory of God.

Inspire Civil Liberties Engagement Summary

Nearly 1,000 proxies voted - In the 2023 proxy voting season, Inspire Investing voted nearly 1,000 proxies in alignment with Christian values and to preserve shareholder value. According to a recent report by the Committee to Unleash Prosperity, for the second year in a row, Inspire Investing received a perfect 10/10 score for putting client interests ahead of politically charged shareholder proposals. Our score earned us an “A” grade compared to the “C” average among over 600 fund families in the study.

‍

Company Engagement at 85 companies – Inspire sent emails, made phone calls, and had meetings to voice the concerns of faith-based investors on issues related to free speech, religious liberty, and corporate political activism.  

Shareholder resolutions – Inspire filed over 40% of the ADF-backed resolutions, including the resolution at Charles Schwab that the company challenged at the SEC.  The “no action” challenge was eventually ruled in our favor due to the great work of the legal team at ADF.  

Viewpoint Diversity Survey completion  –  Inspire lead the engagement efforts for all five of the companies that completed the survey.  Those companies are the top scoring companies in the 2024 Viewpoint Diversity Score Business Index based on our engagement and their completion of the survey.    

ISS & Glass Lewis Petition – Inspire organized the petition that was signed by over 100 asset managers and advisors and representing over $250 billion in AUM that helped get ISS to offer an “ESG Skeptic” specialty policy.  

Notices of Exempt Solicitation (NES) – Inspire filed 21 supporting statements (pertaining to de-banking, workplace civil liberties, and digital services) with the SEC at companies where ADF-sponsored resolutions appeared on the proxy statement.  

JP Morgan Chase – Among the victories this year is a big win at JPMorgan Chase which was announced recently and reported by Reuters. Inspire filed a Notice of Exempt Solicitation in support of a shareholder resolution that was filed by our friends at the Bahnsen Family Trust and Bowyer Research that called “for the bank to report on how their policies impact employees ‘based on their religion (including religious views) or political views.’"  Inspire has been part of the effort to engage JPMorgan Chase for the last couple of years, especially in light of the controversy that ensued when Chase closed the bank account of Ambassador Sam Brownback’s National Committee for Religious Freedom in 2022 without explanation, but which increasingly seemed to be politically and religiously motivated as information was released regarding the cancellation.

Top Scoring Companies on 2024 Viewpoint Diversity Score Business Index

• Insperity 58%
• Paychex 34%
• Webster Financial Corporation 31%
• First Horizon 24%
• M&T Bank 18%

Do you invest with Inspire? If you do, these victories are also YOUR victories! Together by the grace of God we are making a difference! Praise the Lord!

The Viewpoint Diversity Score Business Index is the first comprehensive benchmark measuring corporate respect for free speech and religious freedom. The Index’s 43 benchmarks and model policies aim to help America’s largest tech and financial institutions end viewpoint-based cancellations, discrimination against employees because of their religious and political beliefs, and public advocacy that damages religious freedom and free speech.

‍

Advisory Services are offered through Inspire Investing, LLC, a Registered Investment Adviser with the SEC.