3iG launches with 27 founder members and partners

	Sikh celebration at the launch of 3iG

Twenty-seven organizations representing members of seven world religions and an array of banks, private philanthropies and SRI organizations, this month became the founding members of the first International Interfaith Investment Group, (3iG).

The purpose is to help religious-owned and managed stocks and shares to move into socially responsible investing (SRI), and between them the founding members already represent portfolios running into the billions. They include representatives from Buddhist, Christian, Daoist, Hindu, Jewish, Muslim and Sikh faiths.

The launch in London on April 11-13 marked the successful start of a twelve month period of regional launches around the world to develop 3iG’s distinctive cluster model of positive, faith-consistent investment. The aim is to have fifty or more members and partners by the first AGM next April.

	A Jewish shofar is a call to reflection

There is a long tradition of the world’s faiths knowing what they will not invest in – be that alcohol for Methodists, armaments for Quakers, interest charging for Muslims or animal products for Hindus. This is what the Bishop of London in his keynote speech called the “via negativa”.

Now, a new question is being raised. What will the faiths invest in positively, to make sure that their investments are in line with their beliefs – the “via positiva” so to speak? This “faith-consistent investing” offers a dramatic new role for the religions in helping to fund, bankroll and even create a world that reflects the values, beliefs and teachings of their faith.

3iG will be run on a cluster basis – meaning that different members will combine financial forces in those areas that are particularly important for their beliefs and areas of expertise. For example, as one of Sweden’s major forestry landowners the diocese of Vasteras expects to be particularly active in the area of sustainable forestry investment around the world.

“In the past 10 years equities of international companies working solely on health (not including pharmaceuticals but including for example wheelchair suppliers) have increased performance by on average 290 percent. Water management companies have increased by 140 percent and environmental services by 257 percent. The MSCI World Index over that period has increased by 89.6 percent. Source: Henderson Global Investors. Market Cap Weighted Medium.

Four initial areas for investigation were identified. As well as forestry these were water, micro-finance and labour dignity.

SRI is not charity. The great faiths are in the business of religion – they run for example 60% of all medical care in Africa and 40% of all schools on the continent; they manage 70% of all tourist sites around the world; they own 7% of the habitable land surface of the planet and they administer literally millions of buildings, community facilities, welfare networks, youth clubs, employment projects etc. This is largely funded through their historically accrued stocks, shares and land assets. Therefore, they want and need a good return, and now they are actively seeking how that can also be because they have invested in good businesses.

However it can be argued (and some of the figures are persuasive) that companies that take their environmental responsibilities and employees seriously will pay dividends in the future.

Founding Members of 3iG:

Supporting Networks:

	“This is one of those moments where our wired-up world is struggling to express its unity while celebrating the diversity of our voices.” Bishop of London Keynote speech to 3iG.

Partners: