The federal government should prod auto makers to produce more fuel-efficient vehicles, as opposed to merely extending a short-term lifeline to the industry, according to the Interfaith Center on Corporate Responsibility.
It is a coalition of nearly 300 faith-based institutional investors, representing over $100 billion in invested capital.
Sister Patricia A. Daly of the Sisters of St. Dominic of Caldwell, NJ, says: “The problematic issues facing U.S. auto makers have been apparent to religious investors for many years. For more than a decade now, we have felt that it is essential for American auto companies to significantly change their business models to produce the energy-efficient vehicles that consumers want.”
Ford Motor Co. gets the group's blessings for that. “Time after time Ford has led the pack,” says Sister Patricia.