Representatives of seven world religions and a range of non-profit making foundations have come together to promote interfaith strategies for ethical investment.
The International Interfaith Investment Group, known as 3ig, includes members of the Buddhist, Christian, Daoist, Hindu, Jewish, Muslim and Sikh faiths.
"There is a long tradition of the world's faiths knowing what they will not invest in, but 3ig offers a dramatic new role for the religions in helping to fund and even create a world that reflects the values, beliefs and teachings of their faith," said Victoria Finlay, spokesperson for the group.
The launch of the investment group at an April 11-13 meeting came at a time when religions and churches are becoming increasingly actively involved in global economic issues.
"We are a network of members who will invest in areas that reflect their interests and knowledge," said Michiel Hardon of the World Council of Churches in reference to 3ig which is supported by the world church grouping. "We are not a fund and we don't organize money."
3ig is based on the "cluster model," in which a group member identifies a key issue and then seeks allies and partners to work in this area. Activities initially will focus on investment possibilities in four areas: forestry, water, micro-finance and labor dignity.
These were selected by group members from about 12 original suggestions.
The Diocese of Vasteras in Sweden, a 3ig member, is one of the country's major forestry landowners. It expects to be active in sustainable forestry around the world. Other founders include the General Board of Global Ministries of the United Methodist Church, USA, the Maryknoll Fathers and Brothers, the Royal Islamic Academy of Jordan and the Vedic Sanatana Dharma, India.
Hardon told Ecumenical News International that 3ig was seeking to expand from its present base of around 24 supporting organizations.
The group received a boost when the (Anglican) Bishop of London, Richard Chartres, publicized it on BBC radio.
The launch in Britain in April is to be followed by regional launches around the world. The group is currently based in Manchester, England, with the Alliance of Religions and Conservation, an interfaith body that is a key sponsor of 3ig.
Web site: http://www.3ignet.org
