New Mexico Conference of Churches Acts on its Values

Protest against apartheid (Berkely-1980s)

In the 1980s, a major emphasis of socially responsible investing was on avoiding companies that had assets or operations in South Africa. This was a country where the racist policy of apartheid was practiced.

At that time, socially responsible investment also targeted companies that manufactured weapons of mass destruction or whose practices caused significant contamination of the Earth,  or whose policies disproportionately harmed minority communities.

While the issue of apartheid is no longer front and center,  racism remains an emphasis for those who are seeking socially responsible investments. Environmental concerns, corrupt corporate practices, manufacturing of weapons and firearms and unfair economic activities are also guiding principles for people and communities of faith and conscience when considering where to invest their money.

This brings us to a decision by the New Mexico Conference of Churches, which on January 16, 2018, announced it had completed the removal of  its assets from Wells Fargo Bank in protest of the financial institution's corporate behavior. The process was started in the fall of 2017, when the NMCC Board voted unanimously to move its assets to an investment manager who will respect the collective values of the member churches.

In taking this action against Wells Fargo, the NMCC--a statewide network of churches working for the well-being of New Mexico's peoples and environment--cites the following concerns:

• Wells Fargo’s role as a lender to the Dakota Access Pipeline project.
• Wells Fargo’s position among the primary financiers of the for-profit private prison industry.
• Wells Fargo ’s practices that involved bank employees creating fake accounts in customers' names to bolster performance results and boost bonuses.

In a statement to New Mexico churches the Conference wrote,

We understand that there is no major financial institution whose practices are without question.

Nonetheless, we are moved by Christ to exercise ethical and social stewardship in addition to responsible financial management in our investment practices .

This action is shaped by the sustainable investment principles held by each of our member churches. The Conference encourages congregations in New Mexico to review their own investment practices, and to align them with the sustainability principles of their church.

Faith-based resources for sustainable investing include:
• Christian Church (DOC) : Interfaith Center for Corporate Responsibility
• Community of Christ: Investment Guidelines
• Evangelical Lutheran Church in America: Corporate Social Responsibility
• Presbyterian Church USA: Office of Faith-Based Investing and Corporate Engagement
• The Episcopal Church: Socially Responsible Investing
• The United Methodist Church: Faithful Finance
• United Church of Christ: Investing
• US Conference of Catholic Bishops: Socially Responsible Investment Guidelines