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The Church of England is to maintain its policy of not investing in brewers, distillers and operators of bars and pubs.
The church’s main investing bodies – the Church Commissioners, the Central Board of Finance and the Church of England Pensions Board – have accepted a recommendation from their Ethical Investment Advisory Group that the stance remain unchanged.
Peter Selby, Bishop of Worcester and deputy chairman of the advisory group, said: ‘The prime ethical objection to investing in this area is the social damage caused by alcohol abuse and misuse, such as crime, violence, broken homes and damage to health.’ A deciding factor was ‘a lack of confidence in the present self-regulatory environment’, despite some efforts by the sector, he added.
After a similar review in 1998 the church loosened its policy slightly by allowing investment in selected companies that have diversified into catering, hotels, health and ‘family-focused activities’. The church controls assets of £4.5billion ($8.6bn).
The church’s main investing bodies – the Church Commissioners, the Central Board of Finance and the Church of England Pensions Board – have accepted a recommendation from their Ethical Investment Advisory Group that the stance remain unchanged.
Peter Selby, Bishop of Worcester and deputy chairman of the advisory group, said: ‘The prime ethical objection to investing in this area is the social damage caused by alcohol abuse and misuse, such as crime, violence, broken homes and damage to health.’ A deciding factor was ‘a lack of confidence in the present self-regulatory environment’, despite some efforts by the sector, he added.
After a similar review in 1998 the church loosened its policy slightly by allowing investment in selected companies that have diversified into catering, hotels, health and ‘family-focused activities’. The church controls assets of £4.5billion ($8.6bn).
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