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Rev. Norman Tendis. ©Marcelo Schneider/WCC

Rev. Norman Tendis. ©Marcelo Schneider/WCC

Through the invitation of the United Nations Environment Programme (UNEP) and as part of the Responsible Finance and Investment Summit 2018 hosted by the Responsible Finance and Investment Foundation, the World Council of Churches (WCC) participated in a roundtable on the role of faith and finance organisations in promoting sustainable and inclusive finance.

Experts and industry leaders came together in Baar, Switzerland on 25 April to share how they can augment their impact through greater cooperation to enhance progress towards the Sustainable Development Goals (SDGs) and Paris Climate Accords.

Dr Iyad Abu Moghli, principal advisor for Strategic Engagement with Faith-based Organisations at UNEP, opened the roundtable by presenting UNEP´s new strategy for engagement on environmental and social issues. UNEP, the authority on environmental issues in the UN system, is providing a platform for connecting financial institutions and faith-based organisations to meet the demands for products and services needed for a transformational, faith-consistent financing system to achieve the SDGs.

Representatives from the Ethical Investment Advisory Group at the Church of England, the Islamic Development Bank, the WCC and GreenFaith discussed the many consistencies across faith groups’beliefs on caring for the environment. Discussions focused on how to build upon these similarities to encourage greater cooperation on important environmental issues. 

The event deepened the partnership between WCC, GreenFaith and the “Shine: Investing in Energy Access for All”campaign, among others. A multireligious collection of guidelines to faith-consistent investment, the “Zug Guidelines”, was introduced and further steps were envisioned.

Still, many faith-based organisations have weak guidelines or no guidelines at all about their investments. The event showed the growing conscience about the important impact that responsible investment can have. The Ecumenical Action Plan on a New International Financial and Economic Architecture presented by the WCC at the event sees responsible finance as a crucial part of a just economy in the world.

“We need to help local congregations and churches to rediscover their power through alternative financial services and to invest their resources to make a better planet,”said Rev. Norman Tendis, WCC consultant for Economy of Life, who represented the WCC at the roundtable.  “Imagine if the 348 member churches of the WCC would rethink their investment policies and move to responsible, sustainable finance –this could make a change!”, he added.

Economy of Life for All Now: An Ecumenical Action Plan for a New International Financial and Economic Architecture