The Vatican to Publish Manual of Ethical Investments

Source: FSSPX News

Cardinal Peter Turkson, prefect of the Dicastery for the Service of Integral Human Development, at a press conference held in Milan announced the forthcoming publication of a guide for ethical investments, as well as the implementation of a policy to better coordinate the Holy See’s investments.

The news, published in La Reppublica on October 23, 2019, was interfered with by the jolts of the judicial inquiry into a series of dubious financial transactions by the Vatican. But not to worry, the Dicastery for the Service of Integral Human Development is preparing a guide for ethical investments. This handbook will be for use by dioceses that do not have a specialized structure for financial investments, to help them with their discernment.

Thus, financial investments in the arms or oil sectors are not recommended. Conversely, “we must focus on agriculture in poor countries and on access to water..., things that are used for the survival of people,” said Cardinal Peter Turkson, in charge of these ethical questions.

During the press conference, the high prelate of Ghana said that the Holy See was planning to centralize the investments of the various dicasteries and the IOR—the Vatican Bank—which until now have made independent investment decisions, which will bring them “often into play against each other.”

“The Holy Father is pushing for such a merger,” insisted Bishop Turkson, who explains that the control of all these investments will be entrusted to the Financial Information Authority (FIA) ... the organization whose premises were searched by the Vatican police on October 2, 2019 at the request of the promoter of justice, Gian Piero Milano, and his deputy Alessandro Diddi. An event that is not reassuring.