The Vatican has announced a new policy that will prohibit the Catholic Church from investing in companies that are pro-abortion. The policy applies to the Vatican’s investments — saying that companies that are part of its financial portfolio can’t violate Catholic moral teachings.
The policy stipulates that Vatican investments should “be aligned with the teachings of the Catholic Church, with specific exclusions for financial investments which contradict its fundamental principles, such as the sanctity of life or the dignity of the human being or the common good.”
Here’s more from CNA on the new policy:
The policy, which continues Pope Francis’ reform of Vatican finances, goes into effect Sept. 1.
Investments will be made through APSA, the Holy See’s treasury and sovereign wealth manager, and overseen by an ethics committee of four financial professionals headed by Cardinal Kevin Farrell.
According to the policy, the Vatican and related entities may not invest in products and technologies related to “pornography and prostitution; gambling; weapons and defence industry; pro-abortion health centers; and laboratories or pharmaceutical companies that manufacture contraceptive products and/or work with embryonic stem cells.”
There will be a one year grace period for Vatican entities to divest of existing investments not in conformity with the new policies.
“The decision to invest in one place rather than another… is always a moral and cultural choice,” the policy says.
Although the policy clearly forbids investments in companies that are directly involved in abortion, there is no word on whether the policy will also prohibit investments in companies that are funding abortions in their health insurance plans or paying for travel costs for employees to get abortions out of state as dozens of American companies have done in recent weeks.
The announcement comes on the heels of Pope Francis saying it’s “incoherent” for Biden to claim he is a “faithful” Catholic but support killing babies in abortions.
The head of the Catholic Church has consistently spoken out in support of the pro-life teachings of the church but he has come under criticism from Catholics for not saying more to rebuke Biden for claiming he is a “devout” Catholic but aggressively promoting the destruction of unborn children. Now he’s spoken out, saying Biden needs to talk to his priest about his inconsistency,