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Ethics

Balancing
opportunity with integrity

The CFB is committed to seeking both superior returns and improving ethical standards.

Positive approach

We seek to improve the ethical profile of our portfolios by avoiding investments in particular businesses and encouraging better practices in others.

Company engagement

We view our investments as long term partnerships with company managements. We engage in constructive dialogue and practise active voting to challenge social, environmental and ethical considerations.

Integrated process

Ethical research integrated with financial analysis is key to our investment process. Fund managers are responsible for both financial and ethical analysis.

Clear policy

Comprehensive policy statements and position papers offer a reference for clients and a clear focus for fund managers.

Theological grounding

The Joint Advisory Committee on the Ethics of Investment provides a unique and robust mechanism for testing ethical investment decisions against theological principles.

Quarterly review
December 2018

Farm animal welfare

We are signatory supporters to the Business Benchmark on Farm Animal Welfare (BBFAW) which ranks food manufacturing and processing companies for welfare risk. Cranswick has been ranked as a Tier I leader, and we wrote to the company welcoming its strong stance on animal welfare and asking the company to support a new Global Coalition for Animal Welfare spearheaded by Nestlé and Unilever. A response is awaited.

... Continue reading →

Business ethics

We divested our shares in Danske Bank following the allegations that it allowed €200bn of potentially laundered money flow through its Estonian branch, and removed the bank from the list of banks to which we will lend through our Deposit Fund. The scandal resulted in both the Chair and Chief Executive being dismissed. We reviewed the currently available information about the scandal, its systemic nature and the alleged culpability of senior executives and decided to divest from the Bank as a shareholder and to cease its suitability as an approved lender.

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Corporate governance & executive remuneration

The December quarter was very quiet. During the quarter we voted at four UK meetings opposing five resolutions; three against the re-election of directors and two against executive pay: MJ Gleeson and AB Foods. We wrote to Eco Animal Health regarding the company’s irregular governance arrangements and were pleased to learn at a subsequent meeting with the Executive Chair, that the Board had agreed moves to improve governance practice.

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More quarterly reviews

Voting

Reports

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December
2018
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September
2018
CFB Voting
June
2018
CFB Voting
March
2018

Policy

Voting policy →

Serving
the Methodist Church

The Joint Advisory Committee on the Ethics of Investment (JACEI) provides CFB with advice on ethical issues and reports to the Methodist Conference on CFB compliance with the aims and objectives of the Church.

JACEI Report

The JACEI Report is produced for the Methodist Conference outlining its activities each year. An abbreviated version is also produced. Together they provide a comprehensive survey of the issues that we have addressed.

Joint Advisory Committee on the Ethics of Investment Report 2018 Joint Advisory Committee on the Ethics of Investment Short Report 2018 Joint Advisory Committee on the Ethics of Investment Report 2017 Joint Advisory Committee on the Ethics of Investment Short Report 2017

Working
in partnership

Carbon Disclosure Project Church Investors Group IIGCC, Institutional Investors Group on Climate Change Access to Medicines Index Access to Nutrition Index FAIRR ECCR, The Ecumenical Council for Corporate Responsibility EITI< The Extractive Industries Transparency Initiative Institutional Shareholder Services Sustainalytics TRUCOST UNPRI UKSIF Business Benchmark on Farm Animal Welfare, BBFAW

Active membership of global networks and partnerships provide a powerful united voice when dealing with multinational corporations and assist us and our clients to make informed ethical investment decisions.

The Stewardship Code

The CFB supports investor engagement with companies and is a signatory to the Financial Reporting Council's Stewardship Code

Montréal Pledge

The CFB is a signatory of the Montréal Carbon Pledge and is committed to a voluntary disclosure of the results. Read the CFB's Montréal Pledge Disclosure.

Have your say...

Our ethics are based on Methodist Church principles. We welcome feedback on an ethical issue. If you would like to discuss these please contact CFB Relationship Manager Christophe Borysiewicz on 020 7496 3630 or Chair of JACEI John Howard on 020 7467 5245.