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Ethics

Balancing
opportunity with integrity

The CFB is committed to seeking both superior returns and improving ethical standards.

Positive approach

We seek to improve the ethical profile of our portfolios by avoiding investments in particular businesses and encouraging better practices in others.

Company engagement

We view our investments as long term partnerships with company managements. We engage in constructive dialogue and practise active voting to challenge social, environmental and ethical considerations.

Integrated process

Ethical research integrated with financial analysis is key to our investment process. Fund managers are responsible for both financial and ethical analysis.

Clear policy

Comprehensive policy statements and position papers offer a reference for clients and a clear focus for fund managers.

Theological grounding

The Joint Advisory Committee on the Ethics of Investment provides a unique and robust mechanism for testing ethical investment decisions against theological principles.

Quarterly review
September 2020

Mining – tailings

In August, the Global Industry Standard on Tailings Management was launched, establishing a global standard on tailings management for existing and future tailings facilities. The Standard has been developed through the Global Tailings Review, which was co-convened in March 2019 by the United Nations Environment Programme (UNEP), Principles for Responsible Investment (PRI), and International Council on Mining and Metals (ICMM). The Standard has been established in response to the disaster at the Córrego do Feijão iron ore mine in Brumandinho, Brazil in January 2019. The tailings dam suffered catastrophic failure which killed 270 people, with 11 missing persons. We participate in the Investor Mining and Tailings Safety Initiative which called for the Standard to be established.

... Continue reading →

Principles for Responsible Investment

CFB/Epworth once again received an A+ score from PRI for our Strategy and Governance, which we have attained for the last few years. We also received an A or higher across the Listed Equity and Bond modules. The Principles for Responsible Investment (PRI) runs an annual survey for investment firms and asset owners to outline their responsible investment activities.

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Healthy markets

In our March report, we highlighted our participation in the Healthy Markets Initiative coordinated by ShareAction. Having participated in several webinars and briefings provided by ShareAction, we engaged with two supermarkets on the topic of childhood obesity, requesting further information about their promotions, strategy and targets. Both Tesco and Ocado responded to our engagement, outlining the steps they are taking to respond to the issue. Tesco noted its reformulation strategy of own brand products, and its commitment to increasing positive nutrients such as fibre, fruit, and vegetables, alongside reducing nutrients of concern e.g. fat, salt, and sugar.

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More quarterly reviews

Voting

Reports

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September
2020
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June
2020
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March
2020
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December
2019

Policy

Voting policy →

Serving
the Methodist Church

The Joint Advisory Committee on the Ethics of Investment (JACEI) provides CFB with advice on ethical issues and reports to the Methodist Conference on CFB compliance with the aims and objectives of the Church.

JACEI Report

The JACEI Report is produced for the Methodist Conference outlining its activities each year. An abbreviated version is also produced. Together they provide a comprehensive survey of the issues that we have addressed.

Joint Advisory Committee on the Ethics of Investment Report 2020 Joint Advisory Committee on the Ethics of Investment Report 2019 Joint Advisory Committee on the Ethics of Investment Short Report 2019

The Climate emergency

Evidence continues to mount that the Earth is warming and yet greenhouse gas emissions continue to rise.

Read the CFB and JACEI's response →

Working
in partnership

Carbon Disclosure Project Church Investors Group IIGCC, Institutional Investors Group on Climate Change Access to Medicines Index Access to Nutrition Index FAIRR ECCR, The Ecumenical Council for Corporate Responsibility EITI< The Extractive Industries Transparency Initiative Institutional Shareholder Services Sustainalytics TRUCOST UNPRI UKSIF Business Benchmark on Farm Animal Welfare, BBFAW

Active membership of global networks and partnerships provide a powerful united voice when dealing with multinational corporations and assist us and our clients to make informed ethical investment decisions.

The Stewardship Code

The CFB supports investor engagement with companies and is a signatory to the Financial Reporting Council's Stewardship Code

Montréal Pledge

The CFB is a signatory of the Montréal Carbon Pledge and is committed to a voluntary disclosure of the results. Read the CFB's Montréal Pledge Disclosure.

Have your say...

Our ethics are based on Methodist Church principles. We welcome feedback on an ethical issue. If you would like to discuss these please contact CFB Relationship Manager Christophe Borysiewicz on 020 7496 3630 or Chair of JACEI Stephen Wigley on 020 7467 5245.