Resolution to adopt a socially responsible investing policy to guide the endowment investment decisions of the First Church of Belmont, Unitarian Universalist
- The congregation expresses its desire that, henceforth forward, the Parish Board, and the Investment Committee on the Parish Board’s behalf, pursue investment strategies that aim to refrain from investing in companies that do not meet certain social responsibility criteria identified by the congregation through a congregational vote.
- Any social responsibility criteria the Congregation wishes the Parish Board to consider when developing its investment strategies will be identified and defined through resolutions presented to and passed by the congregation at the Annual Meeting or, at the Parish Board’s discretion, through a special congregational vote not more than one time per year.
- The choice of investment vehicles, including mutual and index funds, should reflect the spirit and intent of the social responsibility criteria identified through these congregational decisions, in concert with other investment criteria, where practical and financially sound.
- In so doing, the Congregation understands and accepts that an investment strategy consistent with the above places additional constraints on the Investment Committee, on behalf of the Parish Board, with respect to investment options. This may have a negative impact on performance of the investment portfolio in which case, the funds available to be disbursed each year by the Parish Board to fund church staff and operations will be reduced.
- We understand that the Investment Committee will need a reasonable period of time to implement and assess the impact of any particular social responsibility criteria.
- We understand that as the congregation considers new social responsibility criteria, incremental to already approved criteria, that it will be necessary to consider the cumulative impact of these criteria and consider which criteria the congregation wishes to maintain, as whole, in light of potential tradeoffs.
- We affirm that the above are intended as guidance to the Parish Board and the Investment Committee, and that ultimately it is the responsibility of the Parish Board, and the Investment Committee acting on the Parish Board's behalf, to make judgments that are consistent with their fiduciary responsibility to protect and grow the funds in their care to provide for the financial security of the Church.