The Vatican launched a campaign on Friday urging divestment from mining, saying Catholic investments should align with ecological teachings.
The initiative brings together Catholic and other Christian groups through the Churches and Mining Network. It draws inspiration from Pope Francis’ 2015 encyclical “Praised Be,” which criticizes environmental exploitation.
The document challenges corporations that extract resources while harming vulnerable communities and ecosystems. Consequently, church leaders now want financial practices to reflect those moral concerns. The campaign asks local churches to review portfolios and divest from harmful mining activities. Additionally, organizers want churches to share information with Indigenous communities about extraction on their lands.
They argue that better awareness can help communities respond to environmental risks more effectively.
At a Vatican news conference, Aymara leader Yolanda Flores described fears among Indigenous mothers about polluted drinking water. She said families worry that mining runoff may harm their children’s health. Furthermore, she questioned who finances projects that damage local environments and communities.
Guatemalan Cardinal Álvaro Ramazzini also spoke about mining impacts in his former diocese. He said a Canadian firm extracted gold and silver with government approval.
However, he argued the benefits flowed mainly to shareholders rather than local residents. He added that while jobs appeared, they did not support long-term community development. Consequently, he questioned whether such operations met standards of fairness and justice.
Cardinal Fabio Baggio, a senior official in the Vatican’s ecology office, addressed questions about church investments. He said he did not know whether the Vatican previously invested in mining companies. However, he noted that ethical campaigns require institutions to examine their own financial practices.
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Committee brings oversight to Vatican financial decisions
In 2022, Pope Francis created an investment committee to oversee ethical standards. The group includes church officials and outside financial experts. Additionally, it evaluates profitability, risk and alignment with Catholic social teaching.
Last month, the Vatican bank introduced two equity benchmarks based on Catholic principles. These include the Morningstar IOR Eurozone Catholic Principles and the Morningstar IOR US Catholic Principles. Meanwhile, officials say these benchmarks aim to guide Catholic investors worldwide.
Pope Francis established the investment committee to bring tighter oversight to Vatican financial decisions. The body reviews portfolios to ensure they align with Catholic social doctrine and ethical standards. Additionally, it evaluates whether investments balance moral considerations with financial performance and acceptable risk.
Members include clergy and independent financial experts with experience in global markets. They assess sectors such as energy, mining and technology for compliance with church teachings. Furthermore, the committee promotes transparency in how funds are allocated and managed. It also advises Vatican institutions on avoiding investments linked to environmental harm or social injustice.
Consequently, the group plays a central role in shaping long-term ethical investment strategies.
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