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

Oxford Mail: Rt Rev John Pritchard Rt Rev John Pritchard

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On Thursday, the Church of England released a statement to say it had withdrawn all its investment in Wonga and would be focusing on funding its own rival credit provider, the Churches’ Mutual Credit Union.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

2014 Oxfordshire GCSE results school by school

Oxford Mail: It's A-Level day

12:30pm Tuesday 19th August 2014

Full GCSE results for Oxfordshire schools for 2014

Connor Tremble trial: Blencowe describes the moment he fatally stabbed Connor Tremble

Oxford Mail:

12:52pm Thursday 21st August 2014

WILL Blencowe has described to a jury the moment he fatally stabbed 17-year-old Connor Tremble.

LONDON WELSH: Olly Barkley backs Exiles to surprise this season

Oxford Mail:

9:30am Thursday 21st August 2014

LONDON Welsh are not just in the Aviva Premiership this season to make up the numbers.

Purr-fect ending to tale of cat missing for a decade

Oxford Mail:

9:00am Thursday 21st August 2014

GEORGIA Hand was just a few months old when the family cat Morgan went missing 10 years ago.

Coroner rules out unlawful killing verdict in gem shop raider's death

Oxford Mail:

9:00am Thursday 21st August 2014

THE grieving family of Clint Townsend yesterday said his robbery of a city jeweller’s was “completely out of character” as a coroner ruled he had not been unlawfully killed.

Thieves snatch £1,600 from pay-and-display machines

Oxford Mail: Pay and Display proposals could net council £160,000 a year

8:30am Thursday 21st August 2014

MORE than £1,600 has been stolen from pay- and-display parking machines across Oxford in the past five years.

Comments

Comments are closed on this article.

click2find

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