Executive Council Committee on Corporate Social Responsibility

Mandate

Resolved, That the Executive Council, meeting in New Brunswick, NJ from November 7-9 2024, re-establish the Executive Council Committee on Corporate Social Responsibility (“CCSR”). CCSR shall report to the Executive Council through its Finance Committee. The Finance Committee will review CCSR’s proposed work plan and shareholder resolutions for ultimate approval by the whole Executive Council.

The Executive Council commends CCSR’s work. For over 50 years, CCSR’s ministry has played a vitally important role in insuring that The Episcopal Church’s values are reflected in DFMS’s shareholdings and its endowment, through its investment decisions, and through voting its shares.

CCSR will at least annually submit to the Executive Council an advocacy workplan based upon General Convention and Executive Council policy statements and/or resolutions and consistent with ongoing efforts from other faith-based and ethically responsible investors. CCSR members shall prepare the work plan with the assistance of DFMS-retained consultants and staff and shall recommend a targeted set of priorities for DFMS. From time to time, CCSR or the Treasurer may propose to the Executive Council to add or delete issue areas.

DFMS employs Mercy Investments and Heartland Initiatives to assist in the creation and implementation of the advocacy plan and to align DFMS efforts with other faith-based investors as appropriate.

CCSR responsibilities are as follows:

• Advocate for and educate dioceses and parishes in The Episcopal Church about the importance of socially responsible investing and how to exercise power as a shareholder.
• Develop an advocacy workplan to recommend to the Finance Committee for Executive Council approval. The workplan may include:
  • Recommended shareholder resolutions for approval by Executive Council. Following Executive Council approval, the resolution may be submitted to companies in which the Church invests its funds by the Treasurer and the Director of the Office of Government Relations.
  • In the work plan, CCSR may identify and list companies included in executing the advocacy plan.
  • The identified companies may be potential targets for shareholder resolutions, dialogues or correspondence, or as appropriate adding to a “no buy” list or investment screen.
• CCSR will also review resolutions being offered by other churches or advocacy groups and recommend to the Treasurer and the Office of Government Relations whether The Episcopal Church should support them.
• Monitor effectiveness of socially responsible investment work and make recommendations as needed to Executive Council.

CCSR members may also be invited to attend the Interfaith Center for Corporate Responsibility annual meetings to deepen their knowledge and expertise. The Treasurer and the Director of the Office of Government Relations will represent DFMS’s interests with ICCR along with DFMS-directed consultants.

The Treasurer, the Executive Council, and the Joint Investment Committee retain their fiduciary duties in managing the endowment.

Membership of CCSR will consist of up to nine members, including at least one bishop, one priest or deacon and one lay person; one member of the Finance Committee, one member of the Investment Committee, and one member of the Governance Committee. Only members appointed by Executive Council shall have voting privileges in the committee.

Members will be jointly nominated by the Chair and the Vice Chair of the Executive Council and elected by the Executive Council.