Investing in line with Catholic teaching — Part II
By Father Thom Hennen
Question Box
What can Catholics do to make sure their investments align with Catholic values? — Part II
(Read Part I HERE)
In my last column I started to address the concept of cooperation in evil. Obviously, our goal is never to cooperate (even unwillingly) with evil, but we live in a complicated world. At the very least, as Catholics we have a responsibility to do the best we can to ensure that where we spend or invest our money is not supporting causes that are antithetical to Catholic teaching.
An excellent starting point may be the “Socially Responsible Investment Guidelines” issued by the U.S. Conference of Catholic Bishops (USCCB) in 2021 and accessible on their website. These are the USCCB’s own investing guidelines, which a small host of Catholic funds and investing companies have also embraced and follow in their own investment strategies.
These guidelines are rooted in the social doctrine of the Church and good stewardship. They offer a few basic investing strategies. First, “Avoid doing harm.” Second, “Actively work for change.” Third, “Promote the common good.” This document outlines five areas where we need to be particularly attentive: (1) protecting human life; (2) promoting human dignity; (3) enhancing the common good; (4) pursuing economic justice; and (5) saving our global common home.
The USCCB pledges not to invest in any company that supports abortion, euthanasia or assisted suicide; that violate human dignity through various forms of discrimination; that support pornography and other forms of sexual exploitation; or that manufacture contraceptives. They further pledge to “encourage companies… to advocate for an understanding of marriage or sexuality that is consistent with Church teaching and natural law.”
The bishops also pledge to do their part to reduce arms production and not to invest in companies whose “primary purpose is to derive revenue from gambling or the production of tobacco or the recreational use of cannabis.”
The U.S. bishops have also pledged themselves to pursue economic justice by encouraging social, environmental and financial responsibility, upholding fair labor standards and just wages and promoting affordable banking and housing.
Lastly, they are committed to care of creation by addressing climate change, promoting conservation and biodiversity, safeguarding water and natural resources, sustainable use of technology, and reducing our impact on the environment.
Probably very few companies are 100% aligned with Catholic teaching. As I often tell people, we are just too darn consistent for the world to make sense of us. There is a profound logic to how we see the world in relationship to God and our neighbor. This affects everything we do.
The classic axiom of Catholic moral theology is that “One may never directly do evil that good may result.” We are not utilitarians or pure pragmatists who simply do what is the greatest benefit to the greatest number of people or makes the most profit. We stand on some non-negotiable principles. At the same time, we are called to be “as shrewd as serpents and simple as doves” (Mt 10:16). As a body, we can also wield some substantial influence. There are 72 million Catholics in the United States, imagine what we could do if we could act together?
I would encourage you to talk to your own financial advisor about what options are available for socially responsible investing that aligns with Catholic teaching and may even explicitly follow the USCCB guidelines. At both the diocesan and parish level, as well as personally, I know there are ways to go about this. It may be more difficult to negotiate with your employer regarding a 401K program, but who knows? If we don’t speak up, nothing will change.
(Father Thom Hennen serves as the pastor of Sacred Heart Cathedral in Davenport. Send questions to messenger@davenportdiocese.org)
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