Hard to be sure of ethical investments, says Bishop of Oxford

Rt Rev John Pritchard

Rt Rev John Pritchard

First published in News Oxford Mail: Photograph of the Author by , Reporter covering North Oxford, Jericho and Summertown. Call me on 01865 425498

ETHICAL purity when it comes to financial investments is “hard to achieve” in the modern day, the Bishop of Oxford has claimed.

His comments follow an announcement that the Church of England will sever all ties with payday loan company Wonga.

Rt Rev John Pritchard told the Oxford Mail: “I’m delighted that the Church of England has been able to sort out this anomaly.

“The problem is that with the multi-layered complexity of financial investments today it’s hard to achieve the ethical purity any of us may seek.

“However, we’ve been able to do it and continue the programme of encouraging credit unions rather than pay day loan companies which, as we know, can drive poorer families to despair.”

On Thursday, the Church of England released a statement to say it had withdrawn all its investment in Wonga and would be focusing on funding its own rival credit provider, the Churches’ Mutual Credit Union.

It is also expected to bring in tighter controls on its venture capital scheme as a result of criticisms made when it first emerged that it had holdings in Wonga.

That prompted the admission from Archbishop of Canterbury Justin Welby that the association was “embarrassing”.

 

  • Do you want alerts delivered straight to your phone via our WhatsApp service? Text NEWS, SPORT and JAYDEN depending on what services you want, and your full name to 07767 417704. Save our number into your phone as Oxford Mail WhatsApp and ensure you have WhatsApp installed.


Our top stories

Oxfordshire ambulance services accused of "playing god" and "putting lives at risk" in new drug trial

Oxford Mail:

9:00am Tuesday 27th January 2015

CARDIAC arrest patients could be given a salt solution instead of adrenaline as part of a new medical trial in Oxfordshire.

Iffley Road complex to be named after Olympian Acer Nethercott

Oxford Mail:

7:48pm Tuesday 27th January 2015

THE first phase of the £60 million redevelopment of Oxford University’s Iffley Road sports facilities could be completed by July 2016.

Arson-struck funeral home is overwhelmed by support

Oxford Mail:

7:30pm Tuesday 27th January 2015

STAFF at a funeral directors said they have been inundated with messages of support after a devastating blaze caused an estimated £100,000 worth of damage.

Health worker strike that would have seen staff walk out in Oxfordshire called off at 11th hour

Oxford Mail: John Radcliffe Hospital stock

7:13pm Tuesday 27th January 2015

A PLANNED strike by health workers has been called off less than 48 hours before it was due to start.

Snow forecast to hit Oxfordshire on Thursday morning

Oxford Mail: Pictures of snow from across the county

4:10pm Tuesday 27th January 2015

Heavy snow is set to hit the county on Thursday morning, according to the Met Office.

Jayden trial: Jury in Jake Blakeley case sent home for the night

Oxford Mail: Jake Blakeley, 18, from Didcot

2:57pm Tuesday 27th January 2015

THE jury in the Jake Blakeley trial has been sent home for the night.

Comments

Comments are closed on this article.

Send us your news, pictures and videos

Most read stories

Local Info

Enter your postcode, town or place name

About cookies

We want you to enjoy your visit to our website. That's why we use cookies to enhance your experience. By staying on our website you agree to our use of cookies. Find out more about the cookies we use.

I agree