For the first time, Catholic investors can have confidence that their shareholder proxy votes are fully aligned with their faith.
ISS and Glass Lewis, proxy advisors that together manage 97% of the proxy vote market, have agreed to start offering new guidelines developed by The Catholic University of America to shareholders who vote by proxy. The option is now available for the upcoming shareholder resolution season that starts in spring 2026.
The Consortium of Catholic Investors Policy guidelines are the first developed by a nonprofit, academic institution and the first faith-based option that fully aligns with the U.S. Catholic bishops’ socially responsible investment guidelines.
"We’re thrilled to have the support of ISS and Glass Lewis in backing this project. Catholic investors now can have a stronger, more direct voice in the shareholder resolution process used in American capital markets,” said Nicholas Schmitz, Traviesa Chair of Finance at Catholic University’s Busch School of Business.
“As ISS continually expands its suite of offerings to deliver robust voting policy choices, we are pleased to partner with and offer Catholic University’s Consortium of Catholic Investors proxy voting guidelines,” said Lorraine Kelly, Global Head of Investment Stewardship at ISS.
Since earlier this year, Schmitz has been leading a team of faculty members who developed and worked with ISS and Glass Lewis to make the guidelines available for Catholics and others interested in voting consistent with their faith beliefs.
The guidelines from the U.S. Conference of Catholic Bishops call for ethical and socially responsible investing strategies that “protect life, promote human dignity, act justly, enhance the common good, and provide care for the environment.”
The Consortium’s policy will guide the proxy advisors on how to recommend votes for each shareholder resolution in light of the Church’s guidance. When a controversial proposal is not covered by Church guidance or industry best practice, proxy advisors will abstain or defer to management.
“Consistent with our longstanding commitment to serve multiple client perspectives by providing a wide array of voting policy choices, we are pleased to offer the Catholic University Consortium of Catholic Investors Policy to the faith-based investment community,” said Dan Concannon, Chief Commercial Officer for Glass Lewis.
In an Oct. 31 Wall Street Journal column, Schmitz and Andrew Abela, dean of the Busch School, wrote, “Nearly one-fifth of Americans are Catholic, and millions invest in the hope of achieving financial security without violating their faith. They deserve to invest with integrity and confidence.”
In addition to Andrew Abela and Nicholas Schmitz, the Catholic University Consortium team includes Busch School faculty members J. Patrick Kearns, Irene Kim, and Daniel Svogun.