A delegation from Australia and New Zealand has been recognised for its leadership in faith-consistent investing after participating in a Vatican conference on how Catholic institutions can align their investments with the Gospel and Catholic social teaching.
The conference, Faith-Consistent Investing for a Global Church, was held at the Pontifical Academy of Social Sciences in Rome on 20-21 May.
It brought together around 90 participants from bishops’ conferences, dioceses, religious congregations, and the investment sector to advance the implementation of the Vatican’s Mensuram Bonam framework for Catholic investing.
Opening the conference, Cardinal Peter Turkson, chancellor of the Pontifical Academy of Social Sciences, described Mensuram Bonam as “the work of human hands” created to serve the wellbeing of all people through faith-consistent investing.
He praised the leadership shown by bishops’ conferences already engaged in the work and renewed the 2022 document’s call for dialogue and collaboration across the global church.
The Oceania delegation was led by Danny Casey, chair of the board of Catholic Cemeteries and Crematoria, and included representatives from the Archdiocese of Sydney, the Archdiocese of Melbourne, Catholic Super, Russell Investments and the Archdiocese of Auckland.
“The need for consistent guidelines and clear practices to support faith-consistent investing was one of many priorities highlighted by Cardinal [George] Pell when commencing the economic reforms in the Vatican in 2014,” Casey told The Catholic Weekly following the conference.
“It is clear that this work has now reached a level of maturity, with significant progress being made around the world.”
Casey told delegates that Catholic Cemeteries, in collaboration with the Archdiocese of Sydney, had incorporated Mensuram Bonam principles into a newly-enhanced investment management policy and was preparing to transition investments into fully compliant ones.
The Vatican’s Mensuram Bonam document, launched in 2022, seeks to help Catholic institutions align their financial assets with Catholic social and moral teaching.
A recurring theme throughout the conference was the need to move beyond simple exclusion of ethically objectionable investments and towards positive investing strategies that advance human dignity and the common good.
A “theology of investing” was suggested as a necessary guidepost in the field.
“We all struggle with ‘where to draw the line’ as there are no perfect businesses just as there are no perfect humans,” Casey said.
“Following in the teaching of Pope Francis, it was suggested that we would win more converts with a pastoral rather than a morals-based approach.
“It is important that Mensuram Bonam is well understood by Catholic investors, because discussions on faith-consistent investing are also teaching moments that bring Catholic social teaching to life.”
Delegates also heard research indicating that faith-consistent investing does not result in lower long-term financial returns, challenging a common concern among would-be adoptees.
Artificial intelligence emerged as another major focus, and participants from Australia, the United States, Austria and Italy agreed to establish an international working group to examine the ethical and investment implications.
Casey said the strong representation from the region was warmly received by organisers.
Participants agreed that continued collaboration, shared resources, and practical guidance are needed for building a stronger Catholic financial ecosystem that will enable more dioceses, parishes and Catholic organisations to align their investments with their mission.
