An Australian and New Zealand delegation has been recognised for its leadership in faith-consistent investing after participating in a Vatican conference examining how Catholic institutions can better align their investments with the Gospel and Catholic social teaching. Source: The Catholic Weekly.
The conference, Faith-Consistent Investing for a Global Church, was held at the Pontifical Academy of Social Sciences in Rome on May 20-21
It brought together about 90 participants from bishops’ conferences, dioceses, religious congregations, and the investment sector to advance the implementation of the Vatican’s Mensuram Bonam framework for Catholic investing.
Opening the conference, Cardinal Peter Turkson, chancellor of the Pontifical Academy of Social Sciences, described Mensuram Bonam as “the work of human hands” created to serve the wellbeing of all people through faith-consistent investing.
He praised the leadership shown by bishops’ conferences already engaged in the work and renewed the 2022 document’s call for dialogue and collaboration across the global Church.
The Oceania delegation was led by Danny Casey, chair of the board of Catholic Cemeteries and Crematoria, and included representatives from the Sydney, Melbourne and Auckland archdioceses, Catholic Super and Russell Investments.
“The need for consistent guidelines and clear practices to support faith-consistent investing was one of many priorities highlighted by Cardinal [George] Pell when commencing the economic reforms in the Vatican in 2014,” Mr Casey said following the conference.
“It is clear that this work has now reached a level of maturity, with significant progress being made around the world.”
The Vatican’s Mensuram Bonam document, launched in 2022, seeks to help Catholic institutions align their financial assets with Catholic social and moral teaching.
A recurring theme throughout the conference was the need to move beyond simple exclusion of ethically objectionable investments and towards positive investing strategies that advance human dignity and the common good.
A “theology of investing” was suggested as a necessary guidepost in the field.
“We all struggle with ‘where to draw the line’ as there are no perfect businesses just as there are no perfect humans,” Mr Casey said.
“Following in the teaching of Pope Francis, it was suggested that we would win more converts with a pastoral rather than a morals-based approach.
“It is important that Mensuram Bonam is well understood by Catholic investors, because discussions on faith-consistent investing are also teaching moments that bring Catholic social teaching to life.”
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Australian Catholics at forefront of Vatican investment reforms (By Marilyn Rodrigues, The Catholic Weekly)
