Americans are always in search of investment opportunities, particularly during times like these when the U.S. economy is in, or near, a recession. The cost of living continues to escalate, causing us to worry about our current financial health and, even more, our retirement. Whether it is through 401Ks, IRAs, or pensions, we try and insulate ourselves from financial disaster. As Catholics it is important that we recognize our moral responsibilities as investors.
The U.S. Conference of Catholic Bishops has posted on its website the guidelines that the Faithful should follow (http://www.usccb.org/finance/srig.shtml) when investing. After reviewing the guidelines a Catholic investor must use that knowledge to investigate the corporate practices of the companies they are considering doing business with. Do they take actions that run counter to Church doctrine or teachings?
For ex., on Feb 21, 2008, the AFA (American Family Association) released the “Top Ten Pro-Homosexual Sponsors on Television” (http://www.afa.net/monitoringwinter07.asp). The television shows considered by AFA were those with a homosexual lead or supporting character. A couple of the corporations may surprise you.
Other organizations similarly monitor the practices of corporations. For instance, several websites expose the companies that support abortion providers like Planned Parenthood. Other sites reveal the firms that manufacture their goods overseas using child labor. Whatever the issue of concern, there is information available about it and it is our responsibility as Catholics to find it. Admittedly, this can be time consuming, but luckily there are people who can direct us on the right path.
Luther King Capital Management (provider of the Aquinas Fund--http://www.aquinasfunds.com) and Invest Catholic (http://www.investcatholic.com) are two examples of groups who advertise that they help people invest according to Catholic principles. There are others. Find them. Speak to them. Take advantage of their knowledge. And remember, “It’s just business,” is not a valid reason for ignoring your Catholic responsibilities. There’s no such thing as separating your business from your Catholicism.
***Please be aware that I have never done business with either of the above mentioned companies, so I cannot personally vouch for their investment strategies or their commitment to honoring their mission statements. They are just examples***
Donald Tremblay
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