Top financial companies are working with the Vatican to help the poor

2016-07-02

In its second year, the Impact Investing Conference has once again brought together esteemed Catholic leaders and successful business executives as they align themselves in finding ways to provide relief for those in need.


DR. CAROLYN WOO
President & CEO of CRS
"Two years ago, we were trying to introduce the concept of impact investing to the Church, particularly the treasurers of different Catholic organizations, because we want them to understand that part of their investment could actually go to this thing called "Impact Investing. We now want to see, under what conditions would the Churches ministries lend themselves to this type of a model so that they can make use of capital coming from investments in order to scale and sustain their work and to let money do good for the poor, rather than exploit the poor.”


The three-day conference is appropriately titled "Making the Year of Mercy a Year of Impact for the Poor”. It is hosted by the Vatican's Pontifical Council for Justice and Peace along with Catholic Relief Services.


FR. THOMAS MCCLAIN
General Treasurer, Society of Jesus
"I'm just hoping that this is going to be a new way of looking at how the resources of not only the Church, but of many people, can be focused in a way of being positively constructive for the less fortunate. In the past, its all been about making money and that's what investments are all about. But, hopefully, it can be about cultural shift. So that people can realize that there are ventures to employ those who are perhaps less thought of, as a way of increasing income, not only for them but for the investors in the world.”


The goal is to promote the Church's social mission by "impacting it” whereas the financial side of the conference relies on the implementation of the organizations "investment” platforms. Essentially, both the Church and the financial institutions are finding a way to work together by providing social benefits to those in needas well as a sustainable framework of social and environmental opportunities.


CLARA MILLER
President, Heron Foundation
"I think it's really that the tools of capitalism; money, finance, enterprises, which are tools, can be used for social good. And in fact, traditionally they have always been used for social good. And if we make sure that they are being used that way, we can solve a lot of problems in the world.”


The conference also explores different forms of philanthropic entities that are being used by impact-driven investors that want to deliver a positive environmental and social change to the millions of displaced people in need around the world.

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