Churches, charities and people of faith were the first to take account of ethical criteria when making investment decisions. For much of the twentieth century, faith groups used their power as investors to address such issues as unfair labour practices, apartheid in South Africa, and arms trading.
Sustainable or ethical investing means that managers of pension schemes and investment funds are obliged to take social, environmental and/or ethical considerations into account. There are also ethical options for banking, ISAs, pensions, insurance and even mortgages.
Simple ways for churches and faith groups to get involved in Good Money Week:
1. Set a theme for your sermon
Make ethical investment a key theme in your service on Sunday 30 October
2. Hold a meeting or event
St. Paul's Institute, ECCR and UKSIF have recommendations for speakers on ethical investment and finance
3. Help spread awareness of Good Money Week using our toolkit.
- Display a banner or logo on your church's website
- Print and display a poster in your place of worship or community hall
- Use social media such as twitter or facebook to highlight your support for the Week
4. Make a list of items that you do not want to support through your investment financing, e.g. sweatshop labour, weapons manufacturing, tobacco
- Ask your investment manager or fund provider whether they invest in those areas and discuss any concerns which arise
- If necessary research other funds or investment vehicles that do not contradict your beliefs
- Transparency is key. In order to better understand what your money is invested in, both financial institutions and corporates need to be fully transparent about business practices and pushing for this is important
5. And join UKSIF…
UKSIF welcomes institutional asset owners as affiliate members. You would join a group of faith and charity owners which we work with to promote responsible investment. How to join UKSIF
Further useful information:
Your Faith Your Finance: A guide to money, faith and ethics "a place to explore ethical and spiritual issues around the use of money"
Your Ethical Money Provides information on ethical banking, investments and ISAs, pensions and insurance.
ShareAction Encourage your pension provider to be an ethical investor through ShareAction's website.