*** DEBUG START ***
*** DEBUG END ***

Ethical advice concerning the arms trade

by
17 February 2011

iStock

From the Revd Professor Richard Burridge

Sir, — The Ethical Investment Ad­visory Group (EIAG) much appre­ciated the full coverage you gave to its presentation on 8 February to the General Synod (Synod, 11 Feb­ruary). But may I just reassure read­ers who were surprised by the head­line above the report, “Theo­logy aids ‘relaxing’ on defence”? This may have given the impression that the EIAG is relaxed about in­vest­ment in the arms industry. This is not the case.

Under the new ethical-investment policy on defence recommended by the EIAG, and adopted by the Na­tional Investing Bodies, no in­vest­ment is permitted in companies involved in the production of indis­criminate weapons (landmines, clus­ter munitions, and nuclear wea­pons) or the processing, supply, or storage of weapons-grade nuclear fissile materials.

As for conventional weapons, no investment is permitted in com­panies deriving more than ten per cent of their revenues from strategic military sales.

We exclude many more com­panies from investment under the defence policy than under any of the other ethical investment poli­cies: around three per cent, by com­pany value, of the main global stock markets. Indeed, we exclude a greater proportion of the main global stock markets from invest­ment under the new defence policy than under all the other ethical-investment policies combined.

So, far from “relaxing” on defence, we have a rigorous policy grounded in just-war theology — as I set out in my article in the Church Times (Comment, 11 June) last year.

RICHARD BURRIDGE
Vice-Chairman of the EIAG
King’s College
London WC2R 2LS

Letters to the editor

Letters for publication should be sent to letters@churchtimes.co.uk.

Letters should be exclusive to the Church Times, and include a full postal address. Your name and address will appear alongside your letter.

Train-a-Priest Fund 2022 Appeal

Please consider a donation to TAP Africa this year. Every penny you can give goes to ordinands in Africa who face financial difficulty, to support them as they complete their training. 

Donate online

Read more about this year's appeal

Forthcoming Events

24 May 2022
Disability and Church: Intersectionality
A joint webinar from HeartEdge and Church Times.

2 July 2022
Bringing Down the Mighty: Church, Theology and Structural Injustice
With Anthony Reddie, Azariah France-Williams, Mariama Ifode-Blease, Luke Larner, Will Moore, Stewart Rapley and Victoria Turner.

More events

Welcome to the Church Times

​To explore the Church Times website fully, please sign in or subscribe.

Non-subscribers can read four articles for free each month. (You will need to register.)