September 16, 2025
Caitlin Seznec and Aaron Acosta

Introduction

Since its inception 50 years ago, Investor Advocates for Social Justice (IASJ) has consistently been a leader in countering systems of oppression and advocating for corporate accountability. IASJ’s work is carried out according to our faith-based convictions, that all humanity is equal and imbued with inherent dignity and the earth and all creation are good and worthy of protection. We also believe pursuing human rights, climate justice, racial equity, and the common good can reduce portfolio risk and contribute to equitable economic growth and long-term shareholder value, even when our advocacy goes against the dominant narrative or is challenged as politically motivated or radical. Moreover, this stands true despite our vision for a more just and equitable world for all peoples and for the planet puts in odds and increased risk from powerful forces that prefer the status quo. Our commitment to pursuing justice for all peoples and the planet remains unwavering,  though the geopolitical shifts aim to keep systems of oppression in place. From pushing companies to pull out of apartheid South Africa in the 70’s, 80’s, and 90’s, to calling for companies to end their participation in what many observers and institutions have described as the ongoing genocide in Palestine, IASJ has always striven to be a prophetic voice in the wilderness of our times, carrying out our work without fear or favor. 

IASJ’s Legacy

IASJ, formerly the Tri-State Coalition for Responsible Investment (Tri-CRI), one of the first and largest Catholic CRI coalitions, was founded in 1975 by Catholic congregations committed to using their investments to confront injustice. The coalition emerged at a pivotal moment when faith-based institutions across the United States began leveraging their financial resources (pension funds, endowments, and retirement funds) not only to avoid harmful industries, but to actively engage corporations on human rights, racial and gender equity, and environmental responsibility. This faith-driven investor movement recognized the power of shareholder advocacy to hold corporations accountable to moral and social values, while protecting long-term value and acting in the best interest of their shareholders.

Our founders, past directors, and many affiliates are part of a rich history of women religious who have broken boundaries and led social justice advocacy across the globe. Catholic sisters, including Regina Murphy, SC; John Marion Davidson, OP; Pat Wolf, RSM; Barbara Glendon, OS;, and Patricia Daly, OP pioneered the field of shareholder activism, using their institutions’ investments to take on powerful industries such as weapons manufacturers, fossil fuel companies, pharmaceutical corporations, and major banks. Their leadership set a precedent for bold faith-based engagement that continues through today.  

One of the earliest and most defining campaigns was against apartheid in South Africa. Despite sanctions imposed by the 1986 U.S. Anti-Apartheid Act, many US corporations continued with the apartheid regime. Tri-CRI affiliates filed shareholder resolutions with major companies, including General Motors, American Express, IBM, Chevron, Pfizer, Merck, and Coca-Cola, calling on them to cease operations in South Africa until apartheid was abolished. These engagements spanned nearly two decades and became one of the many influential forces that contributed to dismantling apartheid. 

In 2019, recognizing the importance of this legacy and the need to evolve, Tri-CRI transitioned to Investor Advocates for Social Justice. With a broader interfaith mandate and regional reach, IASJ reaffirmed its mission to advocate for human rights, climate justice, racial equity, and the common good on behalf of its affiliate investors. From our founding until now, IASJ’s work has been rooted in confronting systems of injustice, apartheid, and oppression, and we continue to carry that commitment forward in all that we do today. 

Our Current Moment 

Since as early as 2004, IASJ has led efforts to ensure companies are not complicit in international crimes and violations of international humanitarian law in Israel and Palestine. Our affiliates filed a shareholder proposal at Caterpillar in 2004, asking for a committee to review sales of equipment to the Israeli Defense Forces (IDF). Over the past two decades, IASJ has continued to push companies not only to respect Palestinians’ rights, in line with the human rights framework and our faith-based conviction that all persons are deserving of dignity and respect, but also to mitigate risks to shareholders.

Our advocacy to ensure human rights are respected in Israel and Palestine became an even greater focus over the last few years, as we have been witnessing the blurring of lines between defense and tech companies and the pernicious effects of such a blending that has enabled a new modality of conflict and control. True to our history, IASJ strives to lead as a voice in the wilderness, particularly in our Peace & Demilitarization and Racial Justice and Immigrants’ Rights campaigns.  

Drawing upon our anti-apartheid roots, in 2022, IASJ was one of the first investor groups to call out Israel’s apartheid system, under which Palestinians in the occupied territory are surveilled, unlawfully detained and tortured, and subjected to acts of forced displacement and deprivation of resources, including clean water, shelter, food, and electricity. 

In 2022, IASJ affiliates filed a shareholder resolution at Amazon, calling on the company to conduct a customer due diligence assessment. Among the examples listed, the resolution called out Project Nimbus, which “uses AWS to support and expand the apartheid system under which Palestinians in occupied territory are surveilled, unlawfully detained and tortured, and subjected to acts of forced displacement.” The shareholder proposal received nearly 50% support from independent shareholders. The same proposal was filed in 2023, and once again, received strong independent support. 

IASJ affiliates also filed shareholder resolutions in 2022 that called out the use of defense companies’ weapons by Israel to commit war crimes in Gaza during the May 2021 military offensive. These proposals were filed at Lockheed and General Dynamics, and again, at both companies, in 2023.

Then, on October 7, 2023, the world watched in horror as Hamas killed over 1,200 people, mostly Israelis, and took around 250 people hostage. Israel’s subsequent military campaign and violence against Palestinian people is ongoing and continues to shock the conscience. There is a growing consensus among genocide scholars, international law experts, and international human rights organizations that Israel is committing genocide against the Palestinian people. Notably, the UN Special Rapporteur on the situation of human rights in the Palestinian territories occupied since 1967,  the UN Special Committee to Investigate Israeli Practices Affecting the Human Rights of the Palestinian People and Other Arabs of the Occupied Territories,  Amnesty International, Human Rights Watch, and two prominent Israeli human rights organizations, B’Tselem and Physicians for Human Rights Israel, have all concluded Israel’s attacks on Palestinians amount to genocide. Most recently, a UN Human Rights Council independent commission of inquiry concluded that Israel is committing genocide against Palestinians in Gaza, marking  “the strongest and most authoritative UN finding to date” on the conflict.

Since October 7, 2023, we have continued to remain steadfast in our advocacy to be a prophetic voice in the wilderness of our times, carrying out our work without fear or favor. We have condemned all violence on all sides, including the gruesome attacks by Hamas and the retributive campaign by Israel, and all forms of racism, including antisemitism and anti-Palestinian racism. It bears repeating that our advocacy is rooted in the human rights framework – not political rhetoric – and our faith-based calling to ensure the dignity of all persons. Israel’s ongoing destruction of Palestinians in Gaza is one of the most pressing issues of our times, and corporate complicity cannot be excused or ignored. 

In the shareholder season following the October 7 attacks, IASJ affiliates continued to file shareholder resolutions calling out Amazon and RTX for supporting Israel’s apartheid system and Lockheed for its sale of F-35s to Israel. 

In the latest 2025 season, IASJ affiliates refiled proposals at Lockheed Martin and General Dynamics, maintaining pressure on companies profiting from weapons used in Israel’s assault on Palestinians. For the first time, in light of determinations by international bodies such as the International Court of Justice, our General Dynamics proposal explicitly referenced what is now widely recognized as a “genocide” in Gaza. As in past years, IASJ found itself among the few voices in the investor community willing to call out companies for supporting Israel’s attacks against Palestinians , despite facing backlash for doing so.

A few vocal, pro-Israel groups have vehemently and repeatedly opposed IASJ-led proposals, which called for adherence to human rights and accountability in the defense and tech sectors, particularly following October 7, 2023 and the resulting attacks and the resulting escalation in violence. Such groups have mischaracterized and misstated our affiliates’ shareholder proposals and motivations, suggested we and our affiliates were antisemitic, launched a campaign to get shareholders to vote against these proposals, and lobbied the large proxy advisor firms to side with them. Despite the political rhetoric and intimidation by these groups, IASJ has stood firm in its commitment to pursue peace and justice without fear or favor. We have remained steadfast in our belief that calling for accountability for Israel’s actions does not constitute antisemitism. And, we have led with our conviction that no person, country, or company is above the law, and that no human being is inferior or lesser than others. 

Most recently, IASJ affiliates filed a new proposal at Microsoft, stemming from years of dialogue and engagement with the company. The shareholder proposal urges the company to assess the effectiveness of its Human Rights Due Diligence policy, in response to mounting evidence that its technologies are being deployed in Israel’s military operations and surveillance of Palestinians. This proposal was co-filed by 58 investors, an unprecedented show of support, underscoring the breadth of concern and the growing recognition among investors that companies enabling human rights violations must be held accountable.

Since filing, the UN Special Rapporteur on the situation of human rights in the occupied Palestinian territory identified Microsoft among 48 companies directly aiding Israel’s military and displacement strategies. The report documented how Microsoft’s cloud and AI infrastructure have facilitated surveillance, policing, and data control, with its technology embedded in prisons, schools, universities, and settlements. One Israeli colonel described cloud technology as “a weapon in every sense of the word.” In addition, the report named major financial institutions, including BlackRock and Vanguard, for providing funding streams that sustain these operations. Investigative journalists have further revealed how Microsoft’s services are being deployed by the Israeli government to track, monitor, and control Palestinians.

IASJ will continue coordinating efforts around the proposal and providing updates to engage investors in support. The Microsoft shareholder proposal is scheduled for a vote in December 2025.

Call to Action

For decades, IASJ had led with moral clarity and courage, insisting that corporations and investors cannot turn away from the realities of apartheid, genocide, and systemic oppression. Our advocacy has and continues to be rooted in voicing truth, because silence only protects the powerful. The struggle for justice in Palestine is inseparable from the struggle for justice everywhere. By continuing to confront systems of oppression and violence, we carry on the long legacy of our predecessors in pursuing peace, justice, and equity for all humanity and for the planet. 

We invite you to join us. If you would like to learn more, collaborate, or find ways to get involved, please reach out to Aaron (aacosta@iasj.org) and Caitlin (cseznec@iasj.org). Together, we will continue this push for justice, peace, and accountability in Palestine and beyond, because “injustice anywhere is a threat to justice everywhere.”