The Acts of Convention

House of Bishops

The House of Bishops Committee on Stewardship and Socially Responsible Investing presented its Report #3 on Resolution A028 (Support for Freedom to Consider Ethical Issues in Investing) and moved adoption with amendment.

Original Text of Resolution:

(A028)

Resolved, the House of Deputies concurring,

That the 81st General Convention reaffirm its commitment to and encouragement across the Church of faithful and ethically responsible investing addressing ethical concerns for social, environmental and governance matters, including climate change and human rights, commonly referred to as ESG (Environment, Social, Governance) investing, as set forth in General Convention resolution 2022-A073; and be it further

Resolved, That General Convention reaffirm the Episcopal Church's long practice of aligning its investments with the values of Jesus Christ as expressed in General Convention and Executive Council resolutions, through such means as corporate engagement through dialogue, filing and voting on shareholder resolutions, voting in director elections, and divestment and affirmative investment, including ESG (Environment, Social, Governance) investing, and, more broadly, participation in boycotts and sanctions campaigns, as with South Africa, all in order to help carry out the Church’s commitment to environmental sustainability, justice, and equal rights at home and globally, while generating positive financial returns; and be it further

Resolved, That General Convention affirm the use of ESG investing by Executive Council’s Investment Committee in its management of the investments of the Domestic and Foreign Missionary Society (DFMS), and affirm the work of the Executive Council’s Committee on Corporate Social Responsibility (CCSR) in advocating for corporate engagement through dialogue, filing and voting on shareholder resolutions, voting in director elections, and divestment and affirmative investment, including ESG (Environment, Social, Governance) investing, as CCSR supports General Convention and Executive Council in carrying out their responsibilities for the Church's investments; and be it further

Resolved, That General Convention affirm and support the Church’s advocacy for the right of all investors, whether or not they are guided by faith commitments, to consider all financial and other factors relevant to investing, to use ethical criteria, including ESG investing, to assess investment risks and opportunities, and to engage with companies, including through dialogue and voting, in making responsible investments; and be it further

Resolved, That General Convention lament, condemn and oppose proposals and actions of some federal, state and local legislatures and agencies, and attorneys general, to suppress and outlaw the consideration of all financial and other factors relevant to investing and the use of ethical criteria, including ESG investing, to assess investment risks and opportunities; and be it further

Resolved, That General Convention encourage the Church to advocate publicly for the freedom to invest responsibly and against legislation that would prohibit divestment, or ESG investing, or consideration of all environmental, social and governance factors relevant to responsible investment decision making; and be it further

Resolved, That General Convention encourage active support for the rights of shareholders to raise important issues through the proxy resolution and voting process, including support for the authority of the United States Securities and Exchange Commission to rule on shareholders’ access to corporate ballots; and be it further

Resolved, That General Convention direct CCSR, as part of its advocacy of responsible investing, to continue its ongoing engagement, divestment and investment work with companies that contribute to and/or benefit from human rights violations and/or environmental exploitation in areas of conflict and high risk, such as Sudan, Myanmar, the Occupied Palestinian Territories, and elsewhere; and be it further

Resolved, That General Convention commend CCSR’s 53-year record of promoting corporate responsibility and encourage all dioceses and congregations to view The CCSR Story video (currently linked at https://www.episcopalchurch.org/video/the-ccsr-story/) that celebrates our Church’s witness, and to share the video with their people.

Committee Amendment:

Resolved, the House of Deputies concurring,

That the 81st General Convention reaffirm its commitment to and encouragement across the Church of faithful and ethically responsible investing addressing ethical concerns for social, environmental and governance matters, including climate change and human rights, commonly referred to as ESG (Environment, Social, Governance) investing, as set forth in General Convention resolution 2022-A073; and be it further

Resolved, That General Convention reaffirm, consistent with the Episcopal Church's long practice of aligning its investments with the values of Jesus Christ as expressed in General Convention and Executive Council resolutions, through such means as corporate engagement through dialogue, filing and voting on shareholder resolutions, voting in director elections, and divestment and affirmative investment, including ESG (Environment, Social, Governance) investing, lament, condemn and oppose proposals and actions of some federal, state and local legislatures and agencies, and attorneys general, to suppress and outlaw the consideration of all financial and other factors relevant to investing and the use of ethical criteria, including ESG investing, to assess investment risks and opportunities. and, more broadly, participation in boycotts and sanctions campaigns, as with South Africa, all in order to help carry out the Church’s commitment to environmental sustainability, justice, and equal rights at home and globally, while generating positive financial returns; and be it further

Resolved, That General Convention affirm the use of ESG investing by Executive Council’s Investment Committee in its management of the investments of the Domestic and Foreign Missionary Society (DFMS), and affirm the work of the Executive Council’s Committee on Corporate Social Responsibility (CCSR) in advocating for corporate engagement through dialogue, filing and voting on shareholder resolutions, voting in director elections, and divestment and affirmative investment, including ESG (Environment, Social, Governance) investing, as CCSR supports General Convention and Executive Council in carrying out their responsibilities for the Church's investments; and be it further Resolved, that General Convention affirm and support the Church’s advocacy for the right of all investors, whether or not they are guided by faith commitments, to consider all financial and other factors relevant to investing, to use ethical criteria, including ESG investing, to assess investment risks and opportunities, and to engage with companies, including through dialogue and voting, in making responsible investments; and be it further

Resolved, That General Convention lament, condemn and oppose proposals and actions of some federal, state and local legislatures and agencies, and attorneys general, to suppress and outlaw the consideration of all financial and other factors relevant to investing and the use of ethical criteria, including ESG investing, to assess investment risks and opportunities; and be it further

Resolved, That General Convention encourage the Church to advocate publicly for the freedom to invest responsibly and against legislation that would prohibit divestment, or ESG investing, or consideration of all environmental, social and governance factors relevant to responsible investment decisionmaking; and be it further

Resolved, That General Convention encourage active support for the rights of shareholders to raise important issues through the proxy resolution and voting process, including support for the authority of the United States Securities and Exchange Commission to rule on shareholders’ access to corporate ballots; and be it further

Resolved, That General Convention direct CCSR, as part of its advocacy of responsible investing, to continue its ongoing engagement, divestment and investment work with companies that contribute to and/or benefit from human rights violations and/or environmental exploitation in areas of conflict and high risk, such as Sudan, Myanmar, the Occupied Palestinian Territories, and elsewhere; and be it further

Resolved, That General Convention commend CCSR’s 53-year record of promoting corporate responsibility and encourage all dioceses and congregations to view The CCSR Story video (currently linked at https://www.episcopalchurch.org/video/the-ccsr-story/) that celebrates our Church’s witness, and to share the video with their people.  

Motion carried

Resolution adopted with amendment

(Communicated to the House of Deputies in HB Message #22)