What the press have said about 3iG
“Religions pray at the altar of pristine profit” by Alan Beattie, Financial Times
“Using God’s Wealth” by Jason Nissé and Cole Moreton, Independent on Sunday
“How to do business for good” by Paul Vallely, Church Times
Spiritual capital across the divide (lead editorial) by Martin Wright, Green Futures Magazine
Religions pray at the altar of pristine profit
“The search for pristine profit is seeking a new and potentially colossal convert: the world’s religions… Their aim is to formalise their current ad-hoc collection of socially responsible investment policies under the aegis of a new organisation, the International Interfaith Investment Group, contracted to 3iG. The potential shift is massive: the plan envisages religions not only changing their own investment behaviour but encouraging their followers to do likewise.”
From “Religions pray at the altar of pristine profit” by Alan Beattie. Financial Times, June 19 2002
Using God’s Wealth
“A group of 23 religious organisations, with access to assets worth $7,000 billion (£4,400bn) are joining forces to launch an ethical investment strategy, putting their money where their consciences are…The total sum available for ethical investment could be $20,000 bn, more than the value of all companies listed on the New York Stock Exchange and Nasdaq combined.”
From “Using God’s Wealth” by Jason Nissé and Cole Moreton. The Independent on Sunday, November 17 2002. Business Section, page 1
How to do business for good
“Was this pie in the sky – or in the heavens at any rate? The big beasts of the commercial banking world didn’t think so. “We can tell you how many shares you’d need in any particular firm before they’d be forced to take notice of you,” said the man from the biggest bank who could sense that here was something that would be good for his bank balance as well as his soul. This was a world away from the old days when church activists simply boycotted companies of which they didn’t approve. When big money goes into a company, it must take notice of the moral agenda of such a large shareholder. In the United States, the Churches (through ICCR) are increasingly urging firms to look to a “triple bottom line” in which “people, planet, profit” is the slogan.”
From “How to do business for good” by Paul Vallely. Church Times, November 22 2002, page 1
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Spiritual capital across the divide
“For the believers, trashing God’s creation is a sin; for the pragmatists destroying the life-support system on which we all depend is criminally unwise. Different spurs, same result. Blessed are the poor, and blessed are the resources on which they depend. Ah yes, resources. The main faiths control investments amounting to about 10 per cent of the world’s equities. That gives them a mighty lever for change, and it’s one which they are just beginning to wield. An “interfaith investment group” is poised to shift $7 trillion into ethical and environmental funds. Seven trillion dollars. It gives a whole meaning to spiritual capital. Did somebody mention the bottom line?”
From the lead editorial article by Martin Wright in Green Futures Magazine, March/April 2003 www.greenfutures.org.uk
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