Friday, 3 July 2009

Ethical Investments- Every Little Helps

From Ekklesia:

Britain’s largest retailer Tesco will today come under fire over 7p an hour garment workers in Bangladesh as shareholders prepare to hail the company’s record £3 billion profits at its annual meeting.

The Church of England is a major shareholder with an investment of £27.5 million in the company, according to the last annual report of the Church Commissioners.

The news comes as the third uncomfortable revelation for the Church in four days.

Yesterday, the Guardian newspaper revealed that Exxon Mobil, in which the Church of England has a shareholding valued at £17.2 million, is continuing to fund lobby groups which question the reality of global warming, despite a public pledge to cut support for such climate change denial. On Tuesday, campaigners announced that the Royal Bank of Scotland (RBS) would be the subject of a legal action after it was was linked to climate change and human rights violations. The Church has a £8.4 million stake in RBS.

No comments: