In an effort to increase oversight in investments, the Vatican has issued an financial policy to ensure the Church's money is invested in a way morally in line with the Church's principles.
The new policy released by the Vatican's Secretariat for the Economy severely restricts risky trading practices, and specifies that investments in the arms industry and health sectors that conflict with the Church's pro-life ethics are prohibited.
While not totally banned, the policy states that investments in commodities, oil, mining, nuclear energy, and alcoholic drinks should be “generally avoided.”
The aim is to ensure that the Holy See's money is managed ethically and to generate income that will help sustain the activities of the Pope and the dicasteries. The Administration of the Patrimony of the Apostolic See will be in charge of supervising how Vatican departments manage their money and avoiding scandals like the one in London, where a speculative real estate investment shocked the world and caused economic losses for the Holy See.
This new policy will take effect on September 1 and will have a trial period of 5 years.
JRB
JM
