PORTLAND, OR (June 22, 2007) \u2013 Resolutions that would mandate denominational institutions engage in \u201ctargeted divestment\u201d from companies doing business in Sudan and encourage creation care were added to the agenda for the 122nd Annual Meeting of the Evangelical Covenant Church.
\n
\nThe \u201cResolution on Divestment from Sudan\u201d comes from the Central Conference and was initially drafted by Grace Covenant Church of Chicago, Illinois. The Young Pietists introduced the resolution on creation care.<\/p>\n
The divestment resolution would direct Covenant\u2019s institutions and agencies, including its schools and benevolent organizations, to divest of all stocks, securities or other obligations (including endowment and retirement programs) that relate to Sudan.\u00a0 Divestment would need to occur within six months of the resolution\u2019s passage, and action reports filed with the denomination\u2019s Executive Board.<\/p>\n
The divestment resolution proposes four actions:
\n\u2022\u00a0\u00a0 \u00a0Divestiture would be from companies that meet three criteria: (1) have a business relationship with the government of Sudan, (2) impart minimal benefit to the country\u2019s underprivileged, and (3) have demonstrated no substantial corporate governance policy regarding the Darfur situation.
\n\u2022\u00a0\u00a0 \u00a0Pension funds would be required to divest only when \u201cworst offending\u201d companies refuse to change behavior despite shareholder discussion on the issue.
\n\u2022\u00a0\u00a0 \u00a0Divestment would not be mandated from \u201ccertain companies, industries and regions that provide benefit to disaffected civilians.\u201d
\n\u2022\u00a0\u00a0 \u00a0Investments would be exempted \u201cwhere divestment can be convincingly proven to be infeasible, allowing the pension funds to maintain their prudent investor responsibilities.\u201d<\/p>\n
Targeted companies are identified by an online investment list.<\/p>\n
The \u201cResolution on Creation-Care\u201d calls on churches and individuals to examine their environmental practices, for the denominational organizations and groups to publish educational resources, and Covenanters to publicly advocate for environmental stewardship.<\/p>\n
Young Pietists is an organization of lay and clergy leaders. To read an earlier story published in this online Covenant news report, please see “Young Pietists.”<\/p>\n