Two church investment organisations have come out in support of a new code designed to encourage responsible investment.

The Central Finance Board of the Methodist Church (CFB) and its sister organisation, Epworth Investment Management, have are planning to add their signatures to the new Stewardship Code issued by the Financial Reporting Council.

The Code was published by the Financial Reporting Council in July in a bid to improve dialogue between shareholders and company boards and increase the transparency of the way in which investors oversee the companies they own.

The CFB and Epworth actively integrate engagement with companies on financial, ethical, social, environmental and governance performance as part of their investment decision making.

Although both institutions already comply with the principles laid down in the Code, they are planning to make a more informed statement of compliance in the near future.

The CFB, an innovator in socially responsible investment, was established in 1960 to enable Methodist organisations to pool their assets and manage them efficiently. Epworth Investment Management allows the CFB’s expertise to be offered to the wider charitable world through the Affirmative common investment and deposit funds.

Chief Executive Bill Seddon said: “Engagement and informed dialogue with companies lies at the heart of our investment approach. A Christian approach to investment focuses on our role as stewards. The Stewardship Code provides a valuable context for enhancing the responsibilities of ownership.”