‘Socially Responsible‘ Efforts Are a Deceiving Trend Among Corporations, Says Biblical Stewardship Authority
PHILADELPHIA—Breitbart.com led with a headline this week that declares that CEOs “Will Prioritize Political and Social Goals Alongside Profits.”
ValueWalk's Raul Panganiban interviews Dr. Kathryn Kaminski, Chief Research Strategist at AlphaSimplex, and discuss her approach to investing and the trends she is seeing in regards to quant investing and hedge funds. Q1 2021 hedge fund letters, conferences and more The following is a computer generated transcript and may contain some errors. Interview with AlphaSimplex's Read More
Corporate leaders such as Amazon’s Jeff Bezos and Apple’s Tim Cook have signed onto a statement prepared by Business Roundtable that “revises a longstanding principle that corporations primarily exist to serve the interests of their shareholders,” according to the news outlet. Also signing on were nearly 200 other business leaders, including the CEOs of JPMorgan, Boeing, American Airlines, American Express and many others.
Nationally syndicated host and biblical investing authority Dan Celia says this push toward “social responsibility” is a deceptive trend for corporations.
“This is a deceiving trend among corporations,” Celia said, “especially as ‘socially responsible’ often means partnering with and funding organizations like Planned Parenthood and furthering anti-family and LGBTQ agendas. ‘Social responsibility’ in corporate America—and the groups they listen to—is very different than what I and many others involved in biblically responsible investing (BRI) would interpret as socially responsible. If this move means that more corporations will be investing in and supporting abortion, pornography and anti-family causes, they will lose billions from those investors who are very committed to biblically responsible investing. And this group is powerful. However, this initiative may also mean that finding biblically responsible companies in which to invest will be much more difficult to identify.”
As evidence, Celia pointed to the fact that BRI innovator Timothy Plan has more than $1 billion in assets under investment.
Reuters also reported that the statement sent the message that corporate America is “responsible for providing economic benefits to all, not just its investors.”
“The statement comes,” Reuters added, “amid calls for greater corporate responsibility from Democratic candidates for president and employee activists who want companies to take stances on issues outside of the corporate sphere.”
Celia discusses these and other global and economic headlines on his daily, three-hour “Financial Issues” program, heard on more than 650 radio stations and several television networks nationwide.
Read more about Celia, FISM and “Financial Issues” or visit the FISM website, its Facebook page, on YouTube at Financial Issues with Dan Celia or on Twitter @financialissues; download the FISM app here.