Investment and trustee bodies of 11 British and Irish Churches and Church bodies, managing assets of £7 billion in total, have agreed to form a framework to improve the ethical understanding of their investments.

A whole range of denominations and Christian organisations, ranging from Catholics to Quakers, Anglicans to Salvation Army, and Presbyterians to Reformed churches; all members of the Church Investors Group (CIG) stated they wanted to learn from each other and from companies as well. This will facilitate a more meaningful dialogue on social responsibility.

"This is a very exciting development," said Bill Seddon, Investment Manager of the Central Finance Board of the Methodist Church and Vice Chair of the Church Investors Group.

"The Churches already have very similar views on the ethical issues relating to investment. Now we are committed to working together in our dealings with the business community. It will be an excellent witness for the Churches, both large and small, to speak to company managements with a single voice when addressing ethical concerns."

CIG is a collaborative ecumenical group building on an informal ecumenical ethical investment network that has been operating since 1973. The network was initialised by the Church of England Commissioners, led by Sir Ronald Harris KCVO CB, and the Central Finance Board of the Methodist Church, under Charles Jacob MBE. Christians and Jewish denominations were united at that time to discuss their experiences with ethics in investment.

The group tries to authorise and inform members as they follow their independent views and policies. Members will try to increase the influence of the Church in society by formulating policies that are related to investment, based on Christian truths and moral principles, putting these policies in life and acting together on such matters whenever possible.

CIG aims to
• To enable members to share with each other information and views on ethical, social responsibility and corporate governance matters relating to investment.

• encourage members to formulate policies relating to investment that are based on Christian ethical principles and are consistent with the beliefs and traditions of their denominations.

• commission research on matters relating to socially responsible business practices that are of common concern to members.

• enable members to make joint representation to company managements with a view to encouraging socially responsible business practices.

• enable members to make public statements either individually or in collaboration on matters of ethical principle relating to investment and socially responsible business practices.

• make available to all other members the contents of any ethical policy or statement relevant to the management of the funds under their control.