Faith communities need to do more to understand the environmental and social consequences of the financial markets, according to church leaders in Scotland.
Rev Ian Galloway, convenor of the Church of Scotland’s Church and Society Council, said: “Communities of faith need to consider the social and environmental impacts of our financial system.”
He added that churches need to take the lead in working out a financial system that works for social justice.
“We need to develop forms of banking and investment that lead to fairer and more sustainable outcomes,” he said.
Galloway’s comments came ahead of an Edinburgh conference organised by the Church of Scotland in conjunction with fair finance groups.
The “Banking on Justice” conference, on 18th March 2010, will involve a wide range of groups including the Ecumenical Council for Corporate Responsibility (ECCR), Christian Aid Scotland, the Co-operative Bank, Triodos Bank, the Ethical Property Company and ethical investment specialists EIRIS.
Delegates at the conference will discuss how the church can invest its money using socially responsible models of finance.
Miles Litvinoff, ECCR co-ordinator, said: “Socially responsible investment and ethical banking can help raise standards of corporate responsibility.
“This conference will bring together experts on the practicalities of making money work for good to help churches and others make the change.”
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