Executive Committee Report
for 1999

Review of the Year

Our AGM event was held in March at the Garret Centre in Bethnal Green London E2 called ‘Microfinance – The Foundation Stone for Communities ?’ We were privileged to have speakers from Poland and Eire to challenge us about local community credit schemes. The Ecology Building Society kindly contributed £100 towards the event.

Over the past few years we have been encouraging denominational sub-groups. The Roman Catholic Sub-group under the Chairmanship of Eaver McMahon and secretaryship of Darryll Candy had 2 meetings during the year. The Roman Catholic Bishops’ Conference was unable to discuss a model ethical investment policy for dioceses owing to their pressure of other business.

At the July Synod the Anglican General Synod Sub-group decided to join forces with the Ethical Investment Working Group’s presentation led by Professor Polkingthorne on Genetically Modified Foods. This was well attended and enabled people to appreciate the complexity of the issue.

In November 1999 Peter Webster came to talk on the development of new tools for Ethical Investment decisions by EIRIS. New developments in pension funds and elsewhere provide a significant impetus to the Ethical Investment movement.

In June 1999 Paul Brett’s booklet : ‘Ethical Investment: How far may Charity Trustees go’ illustrating the range and possibilities of Trustees’ powers in this area was published. A short occasional paper: ‘Ethical Investment : Have the Church Commissioners got it right?’ was published in October following up aspects of this as it applies to the Anglican church.

Barbara Hayes moved on from the RITES project after a much valued contribution. The sponsors decided that the developments she had pioneered should be taken on in a different way and so the RITES project has now ended.

Expenses were in line with previous years but individual membership subscriptions were down. Unfortunately a printing mistake Paul Brett’s booklet required a reprint to be undertaken by another printer and CEIG has been unable to obtain compensation. While the AGM agreed to increase the subscription rates at the AGM to £20 (individual), £10 (unwaged), and £75 (Corporate) the Executive Committee has decided to delay the implementation of those proposals until at least 1 January 2001.

The Committee met three times in the year with attendance of 6, 8 and 8 at each one. Those who served during the year were Paul Brett (Vice-Chair),Bernice Broggio, Darryll Candy, Elizabeth Haigh, Alistair Hanton, Eaver McMahon Gavin Oldham, Patricia Raikes, Tony Weekes and myself as Chair.

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