S&P Launches Catholic Values Index
Bishop approved Index includes includes fossil fuel companies, excludes abortion and military production
The S&P Dow Jones Indices has launched a Catholic Values Index that excludes certain types of companies whose work is not aligned with the Responsible Investment Guidelines of the U.S. Conference of Catholic Bishops (USCCB).
Organizations in the abortion, contraception, or military production business are all excluded. As are those who utilize child labor, or those involved in the production of nuclear or biological weapons, adult entertainment, or fetal stem cells.
Equally of note are those types of organizations that are not excluded.
The Index includes organizations that explore for, extract, and process fossil fuels. And major Index constituents include S&P powerhouse companies such as Apple and Amazon, which have recently come under fire for unjust labor practices.
“Sustainable issues represent one of the most important cost and revenue drivers in the modern corporate world,” says Julia Kochetygova, Head of Sustainability Indices at S&P Dow Jones Indices. “By selecting stocks that comply with the USCCB, the S&P 500 Catholic Values Index aims to include companies with resilient business profiles by addressing the ethical challenges that can make a stronger investment case.”
The S&P is not the first to create Catholic-friendly investment options. Ave Maria Mutual Funds also provides long-term, morally responsible investment funds.
Complete information on the new S&P Catholic Values Index can be found here.