Membership

The Rev. Canon Kathleen J. Cullinane Chair as of August 2005	Indianapolis V, 2006
Ms. Lindsey W. Parker, Chair until June 2005	Massachusetts I, 2006
Mr. Larry J. Bingham	Kansas VII, 2006
The Rev. Peter T. Elvin	Western Massachusetts I, 2006
The Rev. Elizabeth McWhorter	Washington III, 2006
The Rev. Edward Miller, Jr.	2006
The Rt. Rev. Orris G. Walker	Long Island II, 2006
Mr. Warren J. Wong	California VIII, 2006
Ms. Sally M. Zimmerman, Investment Committee Rep.	2006
Edgar K. Byham Esq., Council Liaison
Mr. Harry Van Buren, Staff Consultant

Summary of Work

The Social Responsibility in Investments Committee (SRI) is charged by Executive Council with conducting research about the social records of companies held in DFMS portfolios and recommending various courses of action—including filing shareholder resolutions—when appropriate. Since 1971, when the Episcopal Church filed a shareholder resolution with General Motors asking that company to withdraw from South Africa, the SRI Committee has sought to identify key issues related to corporate social responsibility and then to try to bring about changes in corporate behavior. The Episcopal Church is a charter member of the Interfaith Center on Corporate Responsibility, a coalition of nearly 300 religious institutions engaged in shareholder activism. The Episcopal Church takes the lead role in approximately ten shareholder actions annually and supports another half-dozen efforts by other religious institutions. The SRI Committee is also pleased to report that it and the Church Pension Fund have continued to work together during this triennium; the Church Pension Fund has co-filed several resolutions with DFMS.

In the past triennium, there have been a number of successes to report. Where possible, the SRI Committee seeks to engage in dialogue with companies and to withdraw shareholder resolutions when an agreement is reached. Board diversity continues to be an area of emphasis for the Committee, with several resolutions withdrawn after successful dialogues with companies led to tangible efforts to make their boards more diverse. Global warming was another area of emphasis, and there is evidence that companies are taking this issue more seriously. Efforts to improve human rights for workers—whether employed directly by companies or as employees of contract suppliers—also were continued, with a particular emphasis on the electronics industry. Work is also proceeding on environmental justice, and the committee visited Baton Rouge, Louisiana to hear from activists. Throughout this triennium, the SRI Committee has been guided by two main principles: 1) more corporate disclosure about social performance is better than less and 2) ethical minima exist for all corporate activities.

No report to the General Convention from this Committee would be complete without a discussion of the topic of Israel and the Occupied Territories. In 2005 and 2005, the committee undertook a deliberative process of research and dialogue to further the church’s witness for peace and justice for both Israel and Palestine. A report with a set of recommendations to implement Episcopal Church policy with regard to shareholder dialogue was made at the Executive Council’s October 2005 meeting. The SRI Committee’s thoughtful process for formulating recommendations was commended by several groups in the Anglican Communion.

Through the past thirty-four years, the SRI Committee has done much to further the Episcopal Church's social witness. In so doing, the Episcopal Church has had an impact on both societal expectations of corporate behavior and corporate responses to greater demands for social responsibility.