Media CenterFrom Devex Impact: The Catholic Church's Vision for Impact Investing
At the invitation of the Pontifical Council for Justice and Peace and Catholic Relief Services, impact investing experts and Catholic leaders from around the world will convene in Rome June 26-28 to explore how the Catholic Church and other faith-based institutions can harness the power of impact capital to attain and sustain their social mission.
Author Naki B. Mendoza provides excellent background on the meeting. An excerpt from Devex Impact:
The upcoming conference...will also turn to the “demand side” of the issue — how charity-based church organizations doing aid and development work can open themselves up to investment capital and function more like social enterprises. It will be “exploratory” in nature, according to Cardinal Peter Turkson, president of the Pontifical Council for Justice and Peace, and will pair investors, fund managers, and commercial bankers with various heads of Catholic charities and aid-related missions.
“The purpose is to create an interface between Catholic communities that desire to have access to capital and an impact investing industry that already exists,” Turkson told Devex....
For the church itself, the more profound change would likely be the way that it conducts its affairs by re-orienting some of its work from charity-based to capital enterprise models. Today, most church enterprises are not financially sustainable and rely on donations to fund their operations.
“To transition from a charity-based model to one which is financially sustainable through scale and the proper use of capital and cost structures is not easy,” said Carolyn Woo, chief executive of Catholic Relief Services and the former dean of the University of Notre Dame’s Mendoza College of Business. “Once the church invites financiers, it involves a transition of mindset, a transition in competencies to develop as social entrepreneurs and a transition of governance.”
Read the full article, The Catholic Church's Vision for Impact Investing, on Devex.com