The Church of England's national investing bodies have written to the UN Principles for Responsible Investment (UN PRI) Secretariat to confirm their signing up to the initiative's principles in addition to their commitment to the Church's Ethical Investment Advisory Group.

The three national investing bodies - the Church Commissioners for England, the Church of England Pensions Board and the CBF Church of England funds - are jointly becoming signatories as the "Church of England National Investing Bodies".

Andrew Brown, Chief Executive of the Church Commissioners, said: "We are proud of our role as a leader in ethical investment and have applied ethical principles to our stock market investments since 1948 when we first invested in equities.

The Principles for Responsible Investment initiative is firmly established as the global membership organisation for responsible investors.  We have decided to become PRI signatories to deepen our collaboration with other ethical and responsible investors particularly on engagement with companies on issues like climate change and human rights. 

"We are delighted to be joining the initiative and look forward to making the most of the opportunities this will present for the future development of our ethical investment practices."

Shaun Farrell, Chief Executive of the Church of England Pensions Board, said: "Consideration of environmental, social and governance issues is already integrated into our investment strategy but we want to do more. 

"Joining PRI will give us access to the best thinking on responsible investment and exciting opportunities to co-operate with other pension funds and institutional investors.

"It's very important to us as Church investors that values and ethics shape behaviours in investment and business."

Michael Quicke, CEO of the CBF Church of England funds' asset managers, CCLA Investment Management Ltd, said: "CCLA is a long-standing PRI signatory.  We look forward to helping CBF Church of England fund trustees make the most of their membership as asset owners.

"The three Church investing bodies working together in the PRI will be a powerful force in responsible investment."

The work of the three investing bodies within the PRI will be taken forward by the Secretariat of the Church of England Ethical Investment Advisory Group.

Notes

The Church Commissioners for England are responsible for a perpetual endowment which supports the ministry of the Church and provides for clergy pensions for service prior to 1998. 

The Church of England Pensions Board is a trustee body responsible for pension funds for lay workers' pensions and clergy pensions for service from 1998. 

The assets of both bodies are mostly externally managed by a range of asset managers. 

The CBF Church of England funds are collective investment schemes managed exclusively by CCLA Investment Management Ltd in which Church of England parishes, dioceses and church charitable trusts invest. 

Joint total assets under management for the three investing bodies are approximately £7.5bn.

The Church of England Ethical Investment Advisory Group (EIAG)  makes recommendations on ethical investment policy to the Church Commissioners, Church of England Pensions Board and CBF Church of England Funds, and conducts engagement and other responsible ownership activities on their behalf.

The UN Principles for Responsible Investment (UN PRI)  were launched in 2006.  Becoming a signatory involves committing to the six principles of the initiative, which are all around commitments to integrate environmental, social and governance (ESG) factors into investment practice.  There are over 800 signatories to the Principles for Responsible Investment who, together, are responsible for more than $20tn of assets.