Church ends link to genetics company
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.THE Church Commissioners have disposed of a pounds 1.3m shareholding in a leading genetic engineering firm after protests that the investment was incompatible with Christian values. But they will still invest in an oil company accused of employing forced labour in Burma and two other genetic-engineering firms and an arms manufacturer.
A spokesman said the decision to pull out of Monsanto was made on investment grounds, even though its shares had risen. The company confirmed it had been asked to justify its activities after questions from MPs. Norman Baker, Liberal Democrat MP for Lewes, complained that the Church's investment policy was not as ethical as it maintained.
But a spokesman denied it had bowed to Mr Baker's arguments over Monsanto, an American firm.
Colin Merritt, technical manager for Monsanto UK, said that after Mr Baker's protest in July the company had been asked to explain its activities. Having heard it engineered soya beans and potatoes but not humans or animals, the commissioners were satisfied their investment was ethical, he said. However, the decision to divest had been made on financial grounds.
"Not being a financial expert I am not sure what those reasons were. We have grown considerably in terms of share value over the last couple of years ...," he said.
Mr Baker welcomed the decision. "Investment in Monsanto is incompatible with the Christian doctrine. I am delighted the Church Commissioners have pulled out, even if they have moved in rather mysterious ways."
Yesterday the commissioners' spokesman confirmed it was keeping an investment of almost pounds 1m in Total Oil, despite a decision by the Methodists to scrap a pounds 300,000 holding in the firm because of its involvement in Burma. Many Western companies consider it is impossible to do business there without supporting the regime.
The Church of England is "culturally light years behind the rest of society", a memo urging modernisation said. The unsigned memo, presented to the policy committee of the General Synod chaired by the Archbishop of York in December, said the Synod had become "terminally tedious".
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments