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THE UNITED REFORMED CHURCH Minutes of the General Assembly of the United Reformed Church 2005
Sunday, 3 July 2005 Third Session
The Honorary Treasurer, Mr Eric Chilton, moved adoption of Resolution 24:
Ministers’ Pension Fund Investment Policy
General Assembly resolves that:
a) It supports the ethical dimension of the investment policy currently operated by the Trustee of the United Reformed Church Ministers’ Pension Fund.
b) If the Trustee continues to invest the pension fund assets having regard to ethical issues (and having consulted the Church over any changes to the policy) the Church will promptly reimburse the pension fund in respect of any losses (including inferior investment performance) attributable to the ethical dimension of the Trustee’s investment policy, as identified in periodic reports commissioned by the Trustee from their professional advisers. Such reimbursement shall be made within a period satisfactory to the Trustee and, if it so requires, shall be made in addition to any contributions which would otherwise be required on the advice of the Actuary.
Following discussion, Resolution 24 was carried.
Mr John Ellis, on behalf of Mission Council, moved adoption of Resolution 7:
Revised Ethical Investment Policy
General Assembly recommends that trustees and all those with investment responsibilities connected with the United Reformed Church should avoid any investment in:
a) companies directly engaged in the manufacture or supply of weapons of destruction;
b) companies a significant part of whose business is in the supply of alcoholic drinks or tobacco products or military equipment (other than weapons of destruction); or the provision of gambling facilities; or the publication or distribution of pornography.
General Assembly notes that the definition of these activities, or of what constitutes a significant part of a company’s business, requires judgement and the Ethical Investment Advisory Group (EIAG) of Mission Council is available to offer advice. In general, EIAG will deem “significant” to mean where the share of turnover derived from the activity concerned is more than around 10-20% of the company’s total turnover.
General Assembly recognises that this policy can only be advisory as the responsibility for specific investment decisions remains with each body of trustees.
Resolution 7 was carried.
The report of the Church and Society Committee was presented by the Convener, the Revd Martin Camroux.
The Revd Elizabeth Nash moved adoption of Resolution 54:
Emergency Resolution – Zimbabwe
The General Assembly of the United Reformed Church meeting in Warwick University, mindful of the deteriorating situation in Zimbabwe and of its church and ‘Commitment for Life’ partners in that country:
Several members spoke in support of the Resolution.
Resolution 54 was carried. Members of Assembly stood, and were led in prayer by the Chaplain, as a token of solidarity with the people of Zimbabwe.
The Moderator, on behalf of the Assembly, greeted Mrs Ann Martin and offered her the Assembly’s best wishes as she completes her term of office as Commitment for Life co-ordinator.
The speaker was the Revd Dr Setri Nyomi, General Secretary of the World Alliance of Reformed Churches. Worship included a presentation on MakePovertyHistory.
MakePovertyHistory
Mrs Ann Martin moved adoption of Resolution 20:
MakePovertyHistory
As part of the United Reformed Church’s renewed commitment to challenging the world’s injustices under Catch the Vision, General Assembly warmly welcomes the MAKEPOVERTYHISTORY campaign and calls on all relevant councils of the church to engage fully and imaginatively with the campaign actions for the remainder of the year.
Resolution 20 was carried.
The Chaplain led the Assembly in prayer, and Assembly adjourned.
Monday 4 July 2005 First Session
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