News Archives » interfaith center on corporate responsibility
Where You Bank Matters April 20th, 2016
Where You Bank Matters, by Fr. Seamus Finn, OMI
In collaboration with the Socially Responsible Investment Coalition (SRIC), ICCR sponsored an informative and engaging roundtable on sustainable banking at the Oblate School of Theology in San Antonio on April 6th. The idea for the roundtable was part of the vision and mission of the ICCR financial services caucus and was realized when the group found an accomplished and energetic partner in the Global Alliance for Banking on Values.
Read the full article here.
Vatican Radio interviews Fr. Séamus Finn on the impact of mining operations on local communities October 9th, 2015
Father Séamus Finn, OMI recently moderated a conference in the Vatican for Church representatives and Chief Executive Officers (CEOs) of major mining conglomerates to discuss the impact of mining operations on local communities.
After the conference Devin Watkins of Vatican Radio spoke to Fr. Séamus in a wide-ranging interview about the goals of the meeting. Listen to the interview at this website.
Climate Finance Pursued by Faith-Based and Socially-Responsible Investors April 14th, 2015
The Missionary Oblates, along with other ICCR members, are trying to limit climate-related risk by advancing research and dedicated investment in climate change solutions. These Climate Finance initiatives are being pursued by faith-based and socially responsible investors to propel the shift we need to a low-carbon economy.
What is lacking is a favorable policy environment that can ensure optimal risk-adjusted returns, which, investors, as fiduciaries, are required to achieve. As articulated in the Global Investor Statement on Climate Change (endorsed by 265 investors including ICCR, and representing $24 trillion in assets), private investment will only flow at the scale and pace necessary if it is supported by clear, credible and long-term policy frameworks that shift the risk-reward balance in favor of less carbon-intensive investment. For this reason, ICCR members are working with others in the investment community to press for the climate policy shifts that will unleash this flow of capital and drive clean energy investment. At the same time, members are seeking to educate the broader responsible investment community about both current and future climate finance opportunities.
Here are some examples of initiatives in which the Missionary Oblates have been active:
PUTTING CAPITAL TO WORK IN THE GREEN ECONOMY
Click here to read more »
Fossil Fuels: Divestment vs Engagement April 13th, 2015
Trying to shift the global economy away from polluting, dangerous fossil fuels that we use very day – to clean, renewable fuel sources that can power our economy well into the future, is a complicated task. While the rate of growth of renewable energy sources is increasing rapidly, it is still far behind what we need to avoid pushing past a 2degree limit on temperature increase. The climate change movement, 350.org, has spearheaded a movement to pressure institutions, from charitable Foundations to universities, to divest from stocks of fossil fuel companies. While there are good financial arguments for doing so, based on concern about stranded assets, there is also an argument to be made for continued engagement with oil and gas companies on climate change issues. Laura Berry, Executive Director of the Interfaith Center on Corporate Responsibility (ICCR), makes the case for engagement in a letter to the UK-based Guardian newspaper, in response to a recent article.
Here is her response:
“Members of the Interfaith Center on Corporate Responsibility, a coalition of more than 300 faith-based institutions representing more than $100bn in invested capital, have been engaging the fossil fuel industry to address climate change since before the term was coined. You could say they are gnarled veterans of shareholder engagement with an industry, like tobacco, that is “on the ropes” due to a product offering that continues to be in high demand yet is widely known to present clear public health risks. The conundrum responsible owners of these companies face is not new; it is a tension that they have faced for decades. The divest/engage debate fuelled by your article (Climate campaigners losing faith in value of engaging with fossil fuel firms, theguardian.com, 7 April), which seeks to oversimplify the issue and to divide climate activists, only underscores the complexities of the problem and the genuinely difficult tasks we all face in shifting the energy industry, and our economy, on to a more sustainable path. Is shareholder engagement difficult and slow? Most definitely. Is it enough? Of course not. But do we still believe engagement is a powerful tool for social change? We do.”
“Responsible investors are deploying all their tools – divestment, engagement and everything between – to advance green energy solutions because we believe multiple and collective, inside and outside strategies are needed for what is a herculean task. Is the cause best served by discrediting the methodologies of our allies or leveraging the complementarities? Should we focus on our tactical differences or concentrate our collective energies on our common climate change enemies: investor apathy and policy inertia? We propose the latter.”
Laura Berry
Executive Director, Interfaith Center on Corporate Responsibility
Fr Seamus Finn, OMI Elected Chair of ICCR Governing Board September 2nd, 2014
Fr. Seamus Finn, OMI and Sr. Judy Byron, OP
at ICCR meetings in NY
Our own Seamus Finn, OMI has been elected Chair of the Governing Board of the Interfaith Center on Corporate Responsibility. This is an acknowledgement not only of his substantial experience in the field of faith constant and socially responsible investing, but also of the value of his strategic thinking in this area, for ICCR and other faith-based investing initiatives.
