Episcopal Press and News
Committee on Social Responsibility in Investments of the Executive Council of the Episcopal Church
Diocesan Press Service. February 23, 1972 [72022]
CHARTER
Mandate
A. Structure
Tenure of Appointment
1. The Committee on Social Responsibility in Investments is a Committee of the Executive Council established to study the social implications of the investments of the Domestic and Foreign Missionary Society of the Protestant Episcopal Church in the United States of America, recommend appropriate action for the Executive Council in this field, and carry out actions authorized by the Executive Council. It shall be responsible for receiving or initiating, studying, and acting upon requests that the Executive Council take action to eliminate or reduce the social injury caused by the policies or practices of companies in which the Executive Council holds or may hold investments; further, it shall make recommendations regarding positive investments to further the social concern of the Episcopal Church and do so in liaison with the GHETTO LOAN AND INVESTMENT COMMITTEE of the Executive Council.
Members
2. The Committee shall be composed of not more than 15 members elected by the Executive Council upon nomination by the Presiding Bishop and shall include at least: 4 Executive Council Members 3 Women 2 Youth 4 Minority Group Members and no more than 3 Clergy including Bishops.
3. In nominating and electing members of the Committee, the Presiding Bishop and the Executive Council will take into account the desirability (but not the necessity) of including members:
(informed members)
a) who have knowledge of the subject matter in which investment: questions are likely to arise (such as race relations, public health, ecology, labor relations, and overseas and military affairs);
(skilled members)
b) who have training in one of the various disciplines pertinent to the resolution of the questions which are likely to arise (such as social ethics, economics and law);
(geographical representation)
c) who, in the case of clergy, laity, minority group members, women and youth, are drawn from the geographical range of the Episcopal Church including overseas districts.
Tenure of Appointment
The members of the Committee shall serve for three (3) years and until their successors take office, with one-third of the members being elected each year. In the event of a vacancy caused by death, disability or resignation of a member, the Executive Council, upon nomination of the Presiding Bishop, shall elect a replacement, who shall serve until the expiration of such member's term and until a successor takes office.
Ex Officio Members
The Treasurer of the Executive Council and the Executive Council's Public Affairs officer shall be committee members ex officio.
Chairman
4. The Chairman shall be elected by the Executive Council upon nomination of the Presiding Bishop. The Chairman may be a member of Council or not, as prescribed by usual Council policy.
Seek Outside Counsel
5. The Committee may ask individuals, whether or not connected with the Episcopal Church, to attend its meetings as consultants or to otherwise provide advice and information.
Staff and Research
6. The Committee will utilize the services of Executive Council staff. The Committee may engage the services of consultants, and participate in research and action projects, on the basis of annual budgets submitted by the Committee and approved by the Council.
Access to Data
7. The Committee shall have the authority to request from the Executive Council officers and staff lists of the Executive Council's current investments and all data compiled by or on behalf of the Episcopal Church with respect to companies in which an investment has been made or is contemplated being made.
B. Authority
In implementing actions authorized by the Executive Council under A-1 with respect to particular companies, the Committee shall be authorized within the limits of its own budget and other financial resources available to it:
1. To represent the Executive Council in private persuasion with corporate management.
2. To conduct hearings, conferences and seminars regarding corporate performance.
3. To vote and solicit proxies, originate stockholder proposals and, under the guidance and supervision of the Presiding Bishop, speak for the Executive Council of the Episcopal Church at stockholder meetings.
4. To appeal from or otherwise litigate any order or decision of any administrative agency.
5. To recommend that the Committee on Trust Funds divest (sell) certain securities.
6. To recommend that the Committee on Trust Funds invest in certain securities that will advance Christian social goals and not invest in those which will not advance these goals.
C. Operational Guidelines
Operational guidelines of the Committee shall include, among others:
1. A determination that the issue is one of significant social injury and/or that the action proposed promises important social gains.
2. A clear connection between the issue and the social positions of the Episcopal Church.
3. A finding that the action desired of a corporation is within its power to perform.
Handling Requests
D. Committee Operation
1. When the Committee receives a request for action, including re- quests from members of the Committee, it shall first determine Handling Request whether the request appears to meet the operational guidelines Requests above and any other guidelines established by the Committee. If the request does not meet all of the Operational Guidelines C. 1, 2 and 3 above, the individual or group shall be advised that no further steps will be taken. Otherwise, the Committee shall investigate the request in the light of its guidelines.
(investigation of requests)
2. In order to carry out its investigation, the Committee may:
a) refer the request to the staff and/or a standing committee of requests) or ad hoc committee of the Committee;
b) seek information and advice from individuals and groups in and out of the Episcopal Church;
c) schedule an open meeting to receive information from interested persons in and out of the Episcopal Church.
Counsel of the Treasurer
3. Before the Committee takes action, the Committee will ask the Counsel of the Treasurer for an opinion on the effect of such action on the Treasurer Executive Council's total return from its trust investments and will take this opinion into consideration.
4. The Committee will make an annual report of its total operations to the Executive Council and will make such interim reports as the Executive Council may request or the Committee may desire.
The annual report shall include a narrative section, financial statements showing all assets and liabilities of the Committee and all receipts and disbursements for the period covered by the report.
