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Two Proposed Resolutions Added to Meeting AgendaPORTLAND, OR (June 22, 2007) – Resolutions that would mandate denominational institutions engage in “targeted divestment” from companies doing business in Sudan and encourage creation care were added to the agenda for the 122nd Annual Meeting of the Evangelical Covenant Church. The “Resolution on Divestment from Sudan” comes from the Central Conference and was initially drafted by Grace Covenant Church of Chicago, Illinois. The Young Pietists introduced the resolution on creation care. The divestment resolution would direct Covenant’s institutions and agencies, including its schools and benevolent organizations, to divest of all stocks, securities or other obligations (including endowment and retirement programs) that relate to Sudan. Divestment would need to occur within six months of the resolution’s passage, and action reports filed with the denomination’s Executive Board. The divestment resolution proposes four actions: • Divestiture would be from companies that meet three criteria: (1) have a business relationship with the government of Sudan, (2) impart minimal benefit to the country’s underprivileged, and (3) have demonstrated no substantial corporate governance policy regarding the Darfur situation. • Pension funds would be required to divest only when “worst offending” companies refuse to change behavior despite shareholder discussion on the issue. • Divestment would not be mandated from “certain companies, industries and regions that provide benefit to disaffected civilians.” • Investments would be exempted “where divestment can be convincingly proven to be infeasible, allowing the pension funds to maintain their prudent investor responsibilities.” Targeted companies are identified by an online investment list. The “Resolution on Creation-Care” calls on churches and individuals to examine their environmental practices, for the denominational organizations and groups to publish educational resources, and Covenanters to publicly advocate for environmental stewardship. Young Pietists is an organization of lay and clergy leaders. To read an earlier story published in this online Covenant news report, please see Young Pietists. |
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