World News
Faith-based investors warned of mortgage crisis, raise new concerns
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WASHINGTON (CNS) -- Members of a coalition of faith-based investors said Sept. 10 they had warned of a potential mortgage crisis 15 years ago, long before it became headline news. Now they question why more wasn't done to avert the crisis and have issued a whole new set of warnings on other issues that they say put not only investors at risk but communities as well. During a teleconference, members of the Interfaith Center on Corporate Responsibility in New York highlighted practices they said are "just below the radar" that need to be addressed including: the use of sweatshop workers for major U.S. brands and retailers, continued pollution of the nation's waterways from factory-farm waste, and human trafficking. "Time and time again, the prophetic voice of faith has allowed our members to anticipate emerging areas of corporate responsibility in investment policy as well as in social, economic and environmental policy," said Laura Berry, the center's executive director. She said that while the country's banking institutions and the government recover from the mortgage crisis, members of the Interfaith Center on Corporate Responsibility are focusing on "emerging issues." They are persuading companies to improve their working conditions and eliminate sweatshops, urging U.S. meat companies to develop sustainable water management practices to reduce waste and bringing more attention to the plight of human trafficking.
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