Morally responsible investing catholic daily readings
Conference of Catholic Bishops is updating its socially responsible investment guidelines, which inform the investment decisions made by many church organizations across the country. One item worth consideration: Now that the Vatican is party to an international treaty seeking to ban nuclear weapons, could the guidelines address investments in companies tied up in the manufacture or sale of nuclear arms?
This is the first major multilateral nuclear weapons treaty in decades. As a historic milestone, it became the first legally binding international agreement to establish a comprehensive prohibition on nuclear weapons, placing them in the same off-limits category as other weapons of mass destruction such as chemical and biological weapons. The new treaty has support from more than two-thirds of UN members, including the Holy See.
The nuclear-armed states, including the U. Echoing the appeal of Pope Francis to work "decisively toward promoting conditions necessary for a world without nuclear weapons," several Catholic bishops' conferences and religious authorities from all over the world have already expressed support for the treaty and urged campaigns to mobilize society and politics to promote the accord's universal adoption.
Catholic bishops in Japan asked their government to sign onto the treaty, as have bishops in Canada , the United Kingdom , Germany and Belgium. Conference of Catholic Bishops, has called national and world leaders "to persevere in their efforts to abolish these weapons of mass destruction, which threaten the existence of the human race and our planet.
In , Francis told the U. Congress that profit from the arms industry is money "drenched in blood. Responsible investment policies, whether by shareholder initiative or disinvestment, offer opportunities to shift narrow economic interests toward efforts for the global good. Advertisement Right now, the bishops' investment guidelines are not all that proscriptive.
They don't suggest that bishops and their dioceses avoid "sin stocks" completely. The U. Conference of Catholic Bishops makes this clear in its principles for its own investments, published last November, which also serves a guide to socially responsible investing for us all. The point of investing, the bishops say, is in the words of investing gurus and commercials to keep our money working hard for us. To be sure, the desire for profit should be balanced with the common good. The Catholic version of E.
A rule of thumb for cautious investing that is also ethical investing is simply to consider what people always need. Another way to think about ethical investing is to look for companies that provide services that are elemental to everyday life. The fear of losing money on bad investments also intensifies during a market downturn. When economic times are tough, fewer people have the means or willingness to do so.
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Much of what passes for it usually involves environmental policies or staying out of some countries apartheid South Africa or sectors diamond mining for war profit. What was lacking were mutual funds that explicitly took account of Catholic concerns, i. Catholics make up a quarter of the U. There was clearly a niche for a successful mutual fund catering to their moral concerns. Thus was born Ave Maria Funds. I am not always sure what the book wants to do. Is it a book-length prospectus for Ave Maria?
I perked up when Schwartz starts talking about what to look for in good companies low debt ratios, consistent return, good management. But the Ave Maria focus seems overly dominant, and Schwartz seems to leave some obvious questions hanging. Nonetheless, return on investment and mere monetary concerns cannot be the only factors Catholic investors consider when selecting equities.
The Catholic Bishops and Summit Investment Management have always seen socially responsible investing as a necessity for a better world. These guidelines are fairly common sense and offer the faithful an opportunity to be witnesses to the Gospel in their financial dealings. Good Financial Stewardship Is Socially Responsible Investing Being good stewards of our financial gifts involves far more than simply multiplying them. Faithful stewards will also be careful not to benefit personally by investing in corporations working in opposition to the Gospel.
Jesus has harsh words for hypocritical Pharisees. It is not too difficult to imagine what He would say to investors who would willingly invest in companies using slave labor or openly providing abortions. Investors must avoid participating in evil activities Investors must be actively engaged in shareholder voting Investors must work to change corporate policies for the better As the logical conclusion of these principles, the USCCB gives concrete guidance on what practices must be avoided and what socially responsible goals Catholic investors should seek to promote.
Specifically, Catholic investment portfolios should: Protect Human Life.
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