Church of England to screen out high interest lenders

Portfolio allocationThe Church of England, which in the past has been caught up in controversy over its investments, has appointed MSCI to provide global ethical screening for portfolios.

MSCI ESG Research will provide ethical screening and ratings, along with other services, to the Church’s national investing bodies and the CCLA, an investment manager for charities and other bodies.

The screening will screen out high interest rate lenders in support of the Church’s policy. Last year, the Archbishop of Canterbury, Justin Welby, was embarrassed after criticising Wonga, a pay-day lender, for its interest rates only to find out the Church invested indirectly in the company through a private equity fund.

MSCI will also provide other services beyond screening, such as environmental, social and governance – or ESG – ratings.

©2014 funds europe