Fund Future DFMS Human Rights Screening
Resolved, That Executive Council, meeting in Montgomery, Alabama, October 18-21, 2019:
(a) directs CCSR to continue monitoring DFMS investments in light of the TEC Screen & Criteria and to determine if they should be noted for engagement or be placed on the DFMS Human Rights No Buy List, and
(b) directs CCSR in the next sixty days to review reported plans by the Kingdom of Saudi Arabia for its state owned oil company, Aramco, to present an initial public offering (IPO) of stock and to make recommendations to Executive Council as to how TEC should engage with the underwriters of that IPO given the Kingdom’s atrocious human rights record; and
(c) directs CCSR to monitor the DFMS investment portfolio for other human rights concerns under General Convention and Executive Council policy (not involving the OPT), and directs CCSR to consider recommending action regarding such other human rights concerns, and
(d) in order to support CCSR’s efforts under (a), (b) and (c), approves the use of up to $10,000 for additional consulting services during this triennium such expenditure to be treated as an investment management expense per A296, 2018 General Convention.
See FIN-061 and FIN-062 Resolutions, and the CCSR Report.
FIN-061, 062 and 063, taken together, provide a substitute for FIN-040 (withdrawn) . Combined, they are the EC CCSR response to GC2018 B-016 “Adopt ELCA Action on Israel/Palestine.”