[Dear Friend, Please refer this letter and statement to your appropriate Social Action or Finance Committee for consideration arid response.]
by Southern Africa Working Group
Davis, California, United States
December 1, 1978
The mailing says Dear Friend, Please refer this letter and statement to your appropriate Social Action or Finance Committee for consideration arid response. The mailing says through the investment of monies for retirement and other purposes, religious organizations engage in secular business activities; many institutional investors, such as the churches, have recognized that gaining a maximum return on investments involves both a fiscal and a social responsibility; while fiscal responsibility is mandated through sound management practices, only recently have religious organizations established criteria for social responsibility; for example, the American Baptist Churches have formed a Committee on Social and Ethical Responsibility to monitor investments with respect to the environment, discrimination, military production, foreign investments which support the denial of human rights, and fraudulent marketing practices. The mailing says several other organizations, e.g. the Presbyterian Church (U.S.A.), United Methodist Church, Sisters of Loretto, United Church of Christ, the National Council of Churches, and others , have passed similar resolutions establishing social criteria for investments. The mailing says often, however, the national organization will pass resolutions which have little effect on the local religious groups; in an attempt to remedy this, the Southern Africa Working Group, an ecumenical group of religious activists, have prepared a summary of a survey which we conducted in the Davis-Sacramento area. The mailing says we ask that your church review its present policy of investment in light of the issue of South Africa and the results of our survey; we have a moral obligation to know where and how our money is being used; if the money is used in a way contrary to our beliefs, then we have a responsibility to alter the policy or the investment so that the funds are used in a positive manner.
Collection: Miloanne Hecathorn papers