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News Archives
16
June
2008
Two 3iG members involved in Project
Kaleidescope: Projects final report was released in May 2008
The project started in 2002 and
an interim report was issue in 2005. It included interaction, consultation and
meetings with workers and factory owners, some non-governmental organizations,
two universities and Chinese officials. The Missionary Oblates and the General
Board of Pensions and Health Benefits for the United Methodist Church were directly
involved in this project and worked in collaboration with the other participants
and members of the Interfaith Center for Corporate Responsibility.
Project
Kaleidoscope Working Group released its final report on a multi-year
collaborative project
designed to promote sustained compliance with labor standards
in supplier factories. The report and press release are posted
on the websites of the Missionary Oblates and the General Board: www.omiusajpic.org and http://www.gbophb.org/.
READ
REPORT (PDF file)
The
project was piloted at 10 factories in southern China that
produce goods for McDonald’s and Disney licensees. The
project developed and successfully tested an alternative systems-based
approach.
Key
outcomes include:
- The systems-based approach
(described in the report) has improved factory systems for communicating
with
workers and
receiving feedback.
- Between 78% and nearly
100% of workers surveyed said conditions in their factories had
improved since
the implementation
of the project.
- Endemic issues like
excessive working hours and wage payments inconsistent with law
were found in far
fewer
factories at the end of the project.
- Factory managers see
value in actively managing the compliance process and perceive
its advantages
for their
business interests, e.g., reduced
worker turnover, increased productivity, enhanced competitiveness.
The
report highlights the importance of getting all stakeholders
involved in improving working conditions— workers, managers,
agencies, brands, investors and community-based organizations.
ICCR members will encourage other companies
to apply the learnings from this project to their supply chains.
The
Project Kaleidoscope Working Group consisted of As You Sow Foundation;
the Center for Reflection, Education and Action (CREA);
the Connecticut
State Treasurer's
Office (fiduciary for the Connecticut Retirement Plans and
Trust Funds); Domini Social Investments LLC, the General Board
of Pension
and Health
Benefits of
the United Methodist Church; and the Missionary Oblates of
Mary Immaculate, ICCR,
The Walt Disney Company and McDonald’s Corporation.
Read
Project Kaleidoscope Report (PDF file)
30
November 2007
3iG to Fosters Multi-sector Dialogue
on Faith Consistent Investing
at Paris Workshops
3iG sponsored a groundbreaking
networking opportunity for Faith Consistent Investments (FCI) funds and religious
investors by sponsoring five workshops on Faith Consistent Investments at the
TBLI conference in Paris November 15–16, 2007.
While the two sectors share common interests
in social and ethical investments, these key groups often are not
well connected or well known to each other. The goal of 3iG’s
November workshops was to “foster a multi-faith and multi-sector
dialogue on the implication of FCIs for sustainability-related
investments,” according to Joost Douma, 3iG General Secretary.
Key questions explored by the workshops
include:
- Can FCI play a major role in the drive
for innovation and market
solutions to sustainability?
- What distinguishes religious investors
for participating in environmentally
and socially responsible investments, and where are the opportunities?
- What specific instruments and vehicles
can the finance industry offer
to maximize opportunities for religious investors?
- How can the three sectors collaborate
to unlock the value of FCIs
for sustainability investments?
The workshops were facilitated by major
international figures in the FCI fund and religious investment
communities.
3iG invited all those interested in sustainability-related
investments to join in this unique opportunity to network and consider
the nature of FCI and its potential for investments in sustainable
development - religious authorities, investors, professional fund
managers, and NGO representatives - to stimulate this cross-sector,
multi-faith dialogue.
For more detailed information, a downloadable
version of the workshop brochure(Updated
10 Oct. 2007 3.3 MB PDF) is available.
For additional questions, please contact
Joost Douma at 3iG, +31 6 4620 6604 or info@3iGnet.org.
9 August 2007
ABP joints the Forest Fund of the
Church of Sweden and Norway
NETHERLANDS – ABP, Europe
largest pension fund, has allocated US$60m to the Global Solidarity Forest Fund
(GSFF) of the Diocese of Västerås, Church of Sweden and Norway.
In May this year, Global Pensions exclusively revealed the pension giant was
set to invest in timberland.
The
$100m GSFF portfolio is focused on sub-Saharan Africa and currently
has five established investments in Mozambique and Angola, carrying
out reforestation
on degraded lands and responsibly managing natural forests.
ABP
said: "Investing in timberland is attractive for pension funds
as it provides stable and potentially high returns. The return
on these forest investments
in Mozambique are attained in a sustainable manner. All projects will be
FSC-certified and GSFF has committed itself to the ten universal
principles of the Global Compact."
It
added that GSFF's investments would reforest and restore
about 1.1m acres of forests.
Thijs
Steger, a spokesman for ABP, said the organisation planned more
invest in timberland in the future. Steger said: "Our ambition
is to expand these kinds of investments and it will depend on
the opportunities."
25-26 April
2007
3iG Members to Gather In Washington,
D.C. for
Spring Roundtable and Seminars
3iG invites members to its spring roundtable
and seminars 25-26 April 2007 in Washington, D.C.
This gathering represents the first of 3iG's
planned annual seminars followed by roundtables to afford members
both the opportunity
to identify potential investments and a forum for the forging of
concrete commitments to selected projects. To accommodate members'
schedules, registration is for either one day or both days.
The seminar(s) on 25 April will focus on
Faith Consistent Investing (FCI). Topics will include: FCI educational
products and services;
value assessment; FCI product market combinations; and shareholders
activism. Feedback from participants on their organizations'
guiding principles for FCI policies will also form part of the
day's
programming.
A morning roundtable on 26 April will provide
updates on the Global Solidarity Forest Fund, current projects
and policies
of the United
Methodists and presentations by major financial institutions
introducing their micro-finance services.
The second seminar that afternoon will look
at opportunities in the area of health, transport and sustainable
business development.
The
goal of this day is to prepare a number of new investment
opportunities for a new 3iG roundtable, which should take place
during the
3iG
annual conference in November 2007 in Paris.
For member registration or for information
on how to become a 3iG member, please contact 3iG in Amsterdam
at 31 6 4620
6604 or at info@3iGnet.org.
19 December 2006
ECLOF Becomes Newest 3IG
Member
The Ecumenical Church Loan Fund (ECLOF), based
in Geneva, Switzerland, joined 3iG December 19, 2006. The mission
of this non-profit ecumenical organization "is to provide
fair credit for human development and sustainable communities,
in witness to the Christian faith" and actively finances
the construction of churches, schools and other community and
grassroots development projects. ECLOF will announce its appointment
to the 3iG Board of Directors in 2007.
For more information
on ECLOF, please view www.eclof.org
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9-10 November 2006
3iG/Brooklyn Bridge Workshops in Paris A Great
Success
The 3iG/Brooklyn Bridge Conference on Faith-Consistent
Investing, sponsored by TBLI Europe, was held 9-10 November at the
Palais Brongniart
in Paris.
Participants included professionals from the investment and business
community: commercial banks, investment banks, asset managers, venture
capitalists, insurers, regulators, consultants, project developers,
and private equity investors.
The two-day program featured the following workshops
and speakers:
1. Faith
Consistent Investment (FCI) (moderator: Michiel Hardon)
Four scholars, renowned in the realm of
faith as well as investment, highlight the intersection between
faith consistent investment
and their various beliefs.
Presenters:
- Prof. Dr. Alberto Rossetti (Pontificia
Universitas Gregoriana, Italy)
- Prof. Dr. Mohammad Nejatullah Siddiqi (former
President, International Association for Islamic Economics, India),
presented by Dr. S. Nazim Ali, Director,
Islamic Finance Project, Harvard Law School – ILSP, USA
- Dr. Meir Tamari (former
Chief Economist of The Office of the Governor at the Bank of Israel,
Israel)
- Mr. ASHIZU and Mr. IWAHASHI (Association
of Shinto-shrines, Japan)
2. New
investments for the Faiths (moderator: Father Seamus Finn)
This workshop
highlighted the real issues financial advisors and representatives
of the Faiths face on a daily basis in considering new investment
policies.
Presenters:
- Rev. Jeremy Crocker (Church of England)
- Harald Glomdal (Opplysningsvesenets
Fond - Church of Norway)
- Mark Campanale (Advisory Board 3iG,
UK)
- Xavier de Bayser (I.DE.A.M,
President, France)
- John Wilson (Christian
Brothers Investment Services, USA)
3. Real
estate: asset or liability? (moderator: Giulio Franzinetti)
This workshop offered management models for the financial
and operational administration of real estate property
(historical sites, facilities
and portfolios) and presented
models for running social housing projects and religious
tourist
sites in a respectful and sustainable way.
Presenters:
- Patrick Kanters (Managing Director
Real Estate of ABP Investments, Netherlands)
- Ronald Wuijster (Head
of Research, ABP Investments, Netherlands)
- Yahya Yahe Pallavicini (Chairman
of the Education Committee of The Islamic Educational, Scientific
and Cultural Organization –ISESCO,
Italy)
4. Faith
Consistent Investments: best practices
(moderator:
Rabbi Mark Goldsmith)
Successful examples of FCIs were highlighted in this
presentation.
Presenters:
- Margaret Rainey (Diocese of Vasteras,
Church of Sweden)
- Lauren Compere (Boston Common Asset
Management, USA)
- Dr. Ir.
Andrew Musters (Private Equity, Robeco, Netherlands)
- Birgit
Weinbrenner (Oikocredit, Netherlands)
- Fran Coopersmith (Asset
strategy consultants, USA)
24 October 2006
3iG participates in Assembly of Religions
for Peace in Kyoto
3iG was invited to participate as an
observer in the VIII Assembly of the World Conference of Religions
for Peace
August 26–29
in Kyoto, Japan. 3iG Board member Michiel Hardon represented 3iG,
and the meeting afforded him the opportunity to meet many religious
leaders and to inform them about the work of 3iG. Michiel left
the meeting with the clear impression that interest in faith consistent
investing is increasing within the various faith communities.
July 2006
3iG makes a presentation to the Arabic Financial Forum
(AFF) in London
By invitation of the London based consultancy firm
MEC and hosted by the international law firm Clifford
Chance,
3iG
was offered
the opportunity to present its mission
and goals to a large gathering of Arabic investors and bankers
from the Middle East in July 2006.
June 2006
3iG is showcased during the Brooklyn Bridge conference
in Bangkok
The TBLI Group sponsored 3iG to introduce the organization
during its
conference in Bangkok. Contacts were made with
a variety of groups, ranging
from representatives of the Buddhist traditions
of Mahayana and Theravada,
to managers of sustainable projects in Thailand,
Indonesia, Philippines,
Singapore and China. With the help of local Buddhist
groups of the Mahayana
and Theravada tradition, the new 3iG brochure was
printed in Bangkok.
May 2006
The Charles Stewart Mott Foundation makes donation
to 3iG
The Charles Stewart Mott Foundation has granted
3iG a donation of $ 150,000 for 2006. The grant
has been
given
for the
renewal of the 3iG website and
the development
of its first products and services to increase and enhance
membership of faith organizations.
April 2006
Ford Foundation grant awarded to support 3iG
The Ford Foundation has awarded 3iG a grant of
$ 150,000 for 2006 and 2007. The grant was
awarded to develop
3iG into an independent, professional
entity, to
initiate activities that facilitate dialogue and cooperation
by faith communities
in sustainable development, and to establish strategic
partnerships with relevant parties (NGOs, financial institutions,
advisors, public authorities
and related
groups) in the realm of socially responsible investment
(SRI).
30 March 2006
Muslims, Jews, Christians and Buddhists
gather in Rome for a momentous interfaith dialogue in search of
peace and justice through responsible investment
More than twenty representatives of faith groups from
several continents gathered in Rome March 29 and 30,
2006 under
the banner of the
International Interfaith
Investment Group (3iG) to promote responsible investment
through inter-faith dialogue and co-operation. To celebrate
the gathering,
representatives
attending a dinner Tuesday evening sponsored by Banca
Intesa.
Common ground
Chief Rabbi of Rome Riccardo Di Segni welcomed the representatives
from the World Council of Churches, the Churches of
England, Sweden and Norway,
orders
of the
Roman Catholic Church, various Jewish representatives,
representatives of Western Buddhist groups, and the
first Muslim organisation
to join 3iG, Italian
CO.RE.IS.
(Islamic Religious Community) to the Central Synagogue
of Rome for a plenary session.
Members of the World Congress of Imams and Rabbis
for Peace, Rabbi Daniel Sperber of Jerusalem and Shaykh
Abd al-Wahid
Pallavicini from Milan,
together with
Washington based Father Seamus Finn, OMI of the Roman
Catholic church shared the recommendation
to go “beyond the common ground and above the mainstream” in the
search for investments in accord with each faith’s
values and beliefs.
Secretary General Joost Douma said:“3iG is showing how faith groups of
all creeds can work together toward responsible social investment and in the
process do good based on our shared concerns for the planet and all its peoples.”
The next gathering will be in Paris in November when
progress will be reviewed on exciting initiatives being
taken by
the Executive Committee of 3iG and
its Assembly of Members.

From left to right:
Father Seamus Finn, Shaykh Abd al-Wahid
Pallavicini from Milan, together with Rabbi Daniel Sperber
of Rome and Yahya
Pallavicini, Vice President of Comunità Religiosa Islamica
Italiana, stand together outside the Central Synagogue in Rome |
1 January 2006
3iG appoints Joost Douma as first secretary general
Joost Douma joins 3iG with an academic background in economic history and
philosophy from the Universities of Utrecht and Amsterdam. During his studies
he worked simultaneously in a psychiatric ward for children at the university
clinic.
His professional career has
been characterized by broad international experience in project
and enterprise development from conceptualization to execution
in
diverse fields: social, cultural, economic and scientific. He has worked
in Mexico, Turkey, Germany, USA and Ireland, and has lectured worldwide
on vocational
training, lifelong learning, business development and public understanding
of science and technology. Joost Douma conceived, founded and developed with
the Italian architect Renzo Piano, the first national science center for
the Netherlands, Nemo. He also helped establish ECSITE, a European
collaborative
of 150 science centers and museums.
Before becoming
Secretary General of 3iG, Joost Douma was project manager for an
EU program for regional business development.
He created new product
market
combinations with small- and medium-sized enterprises with a focus on innovation
and clean tech; and initiated the development of a residential economy as
part of an integrated eco-system approach in the delta region (Zeeland) of
the Netherlands.
16 November 2006
Roderick
Munsters, CIO of ABP, has joins the Advisory Board
Roderick Munsters, Chief Investment Officer of ABP, has joined the Advisory
Board of 3iG. ABP is one of the world's largest pension funds, providing
services for employers and employees of the Dutch government and the
educational sector.
The members
of 3iG share with pension funds and foundations a long-term perspective
on investments. We are, therefore, committed to developing
close relationships with large pension funds and greatly welcome Roderick's
participation on the Advisory Board of 3iG.
Roderick Munsters is an internationally
renowned financial expert, who will assist the Board of Directors
of 3iG and its Secretary General in their efforts to forge new global
alliances and develop new products and services.
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21 December 2005
Oikocredit hosts ecumenical seminar on church investments
The international development cooperative Oikocredit this month
hosted an ecumenical seminar in the Netherlands on the ethical
identity
of church investments, concluding that existing networks like 3iG
are the most efficient way of implementing necessary changes. At
the Soesterberg meeting, financial experts from the ecumenical
world agreed that transparency about church investment policies
was critical.
They also stated that there is a growing need to develop SRI guidelines
for churches of all denominations across the globe.
"Faith and economy can never be separated
from each other. Transparency is an expression of trust, honesty,
responsibility and accountability," said
Christoph Stückelberger, Director Institute for Theology and
Ethics, Zürich, Switzerland. "If pension funds disclose
their policies, should one not expect churches to do it?" asked
Ben Simmes, Oikocredit Director Membership and Investments. In
a press release from Oikocredit it was concluded that changes should
be implemented via existing networks like ICCR and 3iG instead
of
establishing new structures. Oikocredit is one of the founding
members of 3iG.
30 December 2005
3iG is established as an independent foundation
On December 30, 2005, 3iG was established as an
independent foundation. It was listed officially
in the records
of the Chamber of Commerce
in Amsterdam as a
non-profit, multi-faith philanthropic foundation
located in Amsterdam. 3iG
was launched as a distinct organization with
its own Board on April 11, 2005.
19 December 2005
3iG members to meet in Rome
The next board meeting for 3iG will take place in Rome, from March
28-30. The delegates will be guests of the Missionary
Oblates of Mary Immaculate, and in the spirit of 3iG they will also be
spending
part of the meeting as guests of other faith groups in Rome.
A full schedule and further details will be posted on this website
later.
7 October 2005
3iG members offered big discount on major ethical investment
conference
All of 3iG's faith and foundation members have been offered
a substantial discount on the cost of attending a major conference
on ethical
investment being held in Frankfurt from November 2-4.
The Triple Bottom Line Investing (TBLI) conference is offering
3iG's Faith and Foundation members enrolment for half the usual
price -
ie 647.50 Euros for the three days instead of E1295, or E297.50
instead of E595 for one day.
For the full programme, including a workshop on the subjects
of faith and investing on November 3, go to the TBLI
website.
To book
online
go to http://www.tbli.org/buynow.html.
And for your 3iG discount contact Robert Rubinstein on +31
2 042 86752 email: robert@tbli.org
19 April 2005
3iG launches with 27 founder members and partners
Twenty-seven organizations representing
members of seven world religions and an array of banks, philanthropies
and SRI organizations,
became
the founding members of 3iG. Full
story>>
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24 June 2004
3iG to be launched in April 2005
The International Interfaith Investment Group (3iG), will
be launched as an independent organisation at a conference
to
take place in
April 2005, it was agreed at a meeting in London this
week.
This builds from a meeting in Istanbul in October 2003
hosted by His All Holiness Bartholomeos, the Ecumenical
Patriarch
of Constantinople,
when faith representatives put the finishing touches
to plans for launching 3iG.
The Interim Steering Group includes representatives of
Buddhist, Christian, Hindu, Islamic, Jain, Jewish, Muslim,
Sikh and
Zoroastrian investment and development funds as well
as observers from
the World Bank, Citigroup, Rabobank and several major
foundations from the
US and Europe. It has held regular meetings over the
past three years to prepare the groundwork for the launch
of
3iG.
Details of the event will be circulated soon.
19 June 2004
Church of Sweden to invest in sustainable forests in
Mozambique
Mozambique government representative Dr Elias Sotomane
holds a box made of FSC certified wood from 5 continents
and containing
a fragment
of the Basilica. The box, blessed by the Pope, has
been used around
the world to symbolise of the alliance between religions
and conservation.
The Church of Sweden is launching a major
new forestry investment project in Mozambique. The Diocese of
Västerås has already
committed US$1.3 million to the commercial ventures
of the innovative Global Solidarity Fund (GSF) in
Mozambique.
Over the next 20 years
(GSF) plans to reforest and responsibly manage 46,000
hectares in the Niassa province in Northern Mozambique – as
well as a further 45,000 hectares, which will be
set up as a
conservation area.
The project is a joint venture between the Diocese
of Västerås
(Church of Sweden) and its twin Diocese of Niassa
(Church of the Province of South Africa) in Mozambique,
supported
by the Alliance
of Religions and Conservation (ARC), the Government
of Mozambique, the Swedish
International Development Agency SIDA, and the Ford
Foundation.
An estimated US $32 million is required
in investment capital for the first ten years. A five per cent
annual return
will be expected
after year five, expanding to 20 per cent after year
18, when mature teak and eucalyptus wood will begin
to be available.
Find out more>>
24 October 2003

The Interim Steering Group
3iG steering group as guests of His All Holiness Bartholomeos, the Ecumenical
Patriarch of Constantinople
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Religions should teach about money too: Patriarch
urges
The Ecumenical Patriarch
urges us all to use all our resources as forces
for good... and that
includes
our
money: "After
all we are stewards too, of our financial resources." Full
story>>
17 October 2003
International Interfaith Investment in Istanbul
Investors from eight religions will meet
in Istanbul next week to give new meaning to the term "good
investment". Full
story>>
25 November 2002
Religions to challenge the definition
of "good" investments
At a unique meeting held in New York, representatives
of 22 major international religious funds
agree to move towards
creating
an organisation to mobilise a proportion
of the enormous financial resources of some
of the major faiths, in a way that is consistent
with their core
values. Full story>>
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