- August 6, 2019 Ecojustice
Midwest Coalition for Responsible Investment merges with Seventh Generation Interfaith Coalition
By Jenny Beatrice, Director of Communications
In July, the Midwest Coalition for Responsible Investment (MCRI) merged with the Seventh Generation Interfaith Coalition for Responsible Investment (SGI). Sister Barbara Jennings, former coordinator of MCRI, tells us more about the merger and how our involvement in shareholder engagement will continue.
What is Seventh Generation Interfaith Coalition for Responsible Investment?
Like MCRI, Seventh Generation seeks to build a more just and sustainable world by integrating social and environmental values into corporate and investor action. Some of the issues they focus on today are climate change, food safety and sustainability, human rights and water stewardship.
What is the relationship between MCRI and SGI?
MCRI’s connection to SGI runs deep. Both organizations formed in the late 1970s around the same issues, most prominently doing shareholder engagement with U.S. companies in apartheid South Africa. SGI is also based in the Midwest and both organizations share a similar Midwestern perspective on environmental and social issues, such as racism.
How many members does SGI have?
With the inclusion of MCRI’s nine members, SGI currently has 40 members who are mostly religious communities, both men’s and women’s. They also have three investment advisor members.
How does this merger strengthen our investment ministry?
I first brought the idea of the merger to the table among MCRI members about four years ago, bringing concerns to the whole membership such as dwindling participation. MCRI’s joining with SGI brings us greater strength as there are more communities who are actively involved. SGI’s leadership also brings new skills and new energy needed to continue this ministry into the future.
How has the ministry grown and how will it continue to grow?
The work will go on—stronger, more focused and with a more supportive business atmosphere than in the 1970s. There is a greater awareness of climate change and the materials risks for business. Laudato Si has pushed governments and businesses. Today, there is a greater awareness of diversity and of consumer and shareholder vigilance as well. Any investment company will tell you they know what ESG means—environmental, social and governance policies. This is a direct outcome of the past 45 years of investor engagement.
Also, we have taken advantage of the internet and quick access to knowledge and of our membership in the Interfaith Center for Responsible Investment (ICCR), of which SGI is a member.
How will the CSJs—and you—continue to be involved in the work of shareholder engagement?
Each of the former members of MCRI will be involved at SGI and will continue to participate in dialogues and shareholder resolutions. I will be a board member at SGI and will continue to write letters and work locally and with ICCR groups on certain corporate issues such as human rights, coal ash and the environment.
How can we continue to support the work?
Please stay involved and support the province’s actions. We hear about the legislative advocacy needs, and need to stay on top of the socially responsible investment advocacy by communicating with our investment committee.