Socially Responsible Investing
by the Sisters of Mount St. Scholastica
“Prophetic hospitality is about crossing thresholds, re-imagining boundaries and negotiating space. It is about breaking down unnecessary walls.”
("Wisdom From The Tradition", p 61)
“The Benedictine Sisters of Mount St. Scholastica, Atchison, Kansas, believe that we are called to just and prudent stewardship of the resources entrusted to us. Through our investments we exercise our responsibility to care for ourselves and the future members of Mount St. Scholastica. We also recognize our responsibility and obligation to have our corporate investments reflect the promotion of human life in all stages and of social justice according to Gospel principles.
To this end Mount St. Scholastica directs its investment managers to exclude investments in companies
that derive more than 5% of revenues from the production, distribution, or sale of conventional military weapons production, or have any revenue from nuclear, biological, chemical and other indiscriminate weapons of mass destruction,
- that derive more than 5% of revenues from the manufacture of firearms and/or ammunition that derive more than 5% of revenues from pornography, or tobacco,
- that have any revenues derived from drugs or equipment designed to be used as abortifacients, any revenues from abortion related services, or any involvement with the research of, promotion of, or profit from embryonic stem cell research,
- that support the government of Sudan through ownership of operations in targeted sectors (oil, mineral extractions, power production or weapons), and
that use sweatshops in the manufacture of goods.
Mount St. Scholastica actively promotes and supports shareholder resolutions directed towards
- protecting human rights including protecting of children from child sexual exploitation;
- protecting human rights including safe working conditions; just wages; rights of citizens; and universal health care for all,
- equal pay and promotion opportunities for women and minorities,
- making life-sustaining drugs safe, available and affordable to low-income individuals and nations,
- protecting the environment and reversing global warming, and
- halting the proliferation of genetically modified foods until safety is proven.
Mount St. Scholastica understands comprehensive immigration reform is a human right and business imperative and effective and fair reform is a shared responsibility of individuals, companies and government. Mount St. Scholastic encourages its investment managers to seek out companies, as appropriate, that undertaking initiatives for sensible immigration reform.” (taken from the Investment Policy for Mount St. Scholastica)
The Benedictine Sisters of Mount St. Scholastica are a member of the Benedictine Coalition for Responsible Investment (CRI). This coalition of Benedictines was formed to join our voices to the voices of a growing number of faith-based individuals and groups who address issues of corporate social responsibility through their work with shareholder resolutions.
As a founding member of Benedictine CRI, the Benedictine Sisters of Mount St. Scholastica have filed numerous shareholder resolutions with corporations to hold companies accountable and to press them to be socially and environmentally responsible. Resolutions have been filed on human rights issues, equitable pay for workers, climate change and environmental issues, net neutrality, just executive compensation, universal health care for all and other justice issues.
The Benedictine Sisters have also committed funds to community development banks and nonprofit loan funds in order to make loans available to low-income individuals and to supply capital for small businesses. Funds are invested with HOPE Credit Union in Louisiana to assist Katrina survivors, with Shared Interest, an organization providing loans to startup businesses in South Africa, with Mercy Housing where affordable housing and child care are provided to many low-income individuals and families, with Oiko Credit who provides loans throughout the world, and with Urban Partnership Bank in Chicago which provides loans for inner city homes and small businesses.