Church investors unite for ethical push
-14/12/04
The investment and trustee bodies of e
Church investors unite for ethical push
-14/12/04
The investment and trustee bodies of eleven major British and Irish Churches and Church bodies, managing between them assets totalling more than £7 billion, have formally agreed a framework to enable them to develop their common understanding of ethical issues affecting companies in which they invest.
Catholics to Quakers, Anglicans to Salvation Army, Presbyterians to reformed denominations, members of the Church Investors Group (CIG) have said they want to learn from each other, as well as from the companies, so that they can engage in meaningful dialogue on matters of social responsibility.
“This is a very exciting development,” said Bill Seddon, Investment Manager of the Central Finance Board of the Methodist Church and Vice Chair of the Church Investors Group.
“The Churches already have very similar views on the ethical issues relating to investment. Now we are committed to working together in our dealings with the business community. It will be an excellent witness for the Churches, both large and small, to speak to company managements with a single voice when addressing ethical concerns.”
The re-formed CIG, takes effect from 1 January 2005. It is a collaborative ecumenical venture that seeks to empower and inform members as they pursue their own independent views and policies. Member bodies will seek to increase the witness and influence of the Church in society by:
? formulating policies relating to investment that are based on Christian ethical principles;
? executing such policies in practice; and
? acting together on such matters whenever possible.
The Group builds on an informal ecumenical ethical investment network that has existed since 1973.
That network began as an initiative by the Church (of England) Commissioners, under Sir Ronald Harris KCVO CB, and the Central Finance Board of the Methodist Church, under Charles Jacob MBE. It brought together the Christian – and at that time Jewish – denominations to discuss and share common experiences on ethical investment.
Steering Group chairman, John Cunningham, said: “This re-launch of the CIG demonstrates how seriously the Churches take the issue of socially responsible investment (SRI).
“We wish to act proactively and we recognise that, collectively, we carry significant financial and moral weight to promote the SRI agenda. Additionally, the newly formalised arrangements will make the group more directly participative, affording the smaller denominations, in particular, the opportunity to take the lead themselves.”
The CIG’s aims are:
? To enable members to share with each other information and views on ethical, social responsibility and corporate governance matters relating to investment.
? To encourage members to formulate policies relating to investment that are based on Christian ethical principles and are consistent with the beliefs and traditions of their denominations.
? To commission research on matters relating to socially responsible business practices that are of common concern to members.
? To enable members to make joint representation to company managements with a view to encouraging socially responsible business practices.
? To enable members to make public statements either individually or in collaboration on matters of ethical principle relating to investment and socially responsible business practices.
? To make available to all other members the contents of any ethical policy or statement relevant to the management of the funds under their control.
Church investors unite for ethical push
-14/12/04
The investment and trustee bodies of eleven major British and Irish Churches and Church bodies, managing between them assets totalling more than £7 billion, have formally agreed a framework to enable them to develop their common understanding of ethical issues affecting companies in which they invest.
Catholics to Quakers, Anglicans to Salvation Army, Presbyterians to reformed denominations, members of the Church Investors Group (CIG) have said they want to learn from each other, as well as from the companies, so that they can engage in meaningful dialogue on matters of social responsibility.
“This is a very exciting development,” said Bill Seddon, Investment Manager of the Central Finance Board of the Methodist Church and Vice Chair of the Church Investors Group.
“The Churches already have very similar views on the ethical issues relating to investment. Now we are committed to working together in our dealings with the business community. It will be an excellent witness for the Churches, both large and small, to speak to company managements with a single voice when addressing ethical concerns.”
The re-formed CIG, takes effect from 1 January 2005. It is a collaborative ecumenical venture that seeks to empower and inform members as they pursue their own independent views and policies. Member bodies will seek to increase the witness and influence of the Church in society by:
? formulating policies relating to investment that are based on Christian ethical principles;
? executing such policies in practice; and
? acting together on such matters whenever possible.
The Group builds on an informal ecumenical ethical investment network that has existed since 1973.
That network began as an initiative by the Church (of England) Commissioners, under Sir Ronald Harris KCVO CB, and the Central Finance Board of the Methodist Church, under Charles Jacob MBE. It brought together the Christian – and at that time Jewish – denominations to discuss and share common experiences on ethical investment.
Steering Group chairman, John Cunningham, said: “This re-launch of the CIG demonstrates how seriously the Churches take the issue of socially responsible investment (SRI).
“We wish to act proactively and we recognise that, collectively, we carry significant financial and moral weight to promote the SRI agenda. Additionally, the newly formalised arrangements will make the group more directly participative, affording the smaller denominations, in particular, the opportunity to take the lead themselves.”
The CIG’s aims are:
? To enable members to share with each other information and views on ethical, social responsibility and corporate governance matters relating to investment.
? To encourage members to formulate policies relating to investment that are based on Christian ethical principles and are consistent with the beliefs and traditions of their denominations.
? To commission research on matters relating to socially responsible business practices that are of common concern to members.
? To enable members to make joint representation to company managements with a view to encouraging socially responsible business practices.
? To enable members to make public statements either individually or in collaboration on matters of ethical principle relating to investment and socially responsible business practices.
? To make available to all other members the contents of any ethical policy or statement relevant to the management of the funds under their control.