Summary
In February 2024, the Vatican Bank, known as the Institute for the Works of Religion (IOR), launched two new equity indexes in collaboration with Morningstar Indexes. These indexes are designed to support investments aligned with Catholic teaching and are based on a selection process guided by the social doctrine of the Catholic Church. The IOR’s Investment Policy excludes companies involved in activities inconsistent with Catholic teachings, including those in sectors like gambling, tobacco, or firearms. This initiative is part of the Vatican Bank’s commitment to responsible finance, as stated by Giovanni Boscia, deputy director general and CFO at the IOR. Last year, the bank reported a net profit of 32.8 million euros, with improvements attributed to the addition of specialized personnel and investments in digital infrastructure. The launch of these indexes aligns with the Vatican’s document “Mensuram Bonam,” which guides Catholics on ethical investment practices. Robert Edwards, managing director for EMEA at Morningstar Indexes, highlighted the transparency and consistent application of Catholic values through this new benchmark system.
Key Topics
Vatican Bank, Morningstar Indexes, Catholic Principles
