AFSC Announces Broad Socially Responsible Investment Policy Aligning with Quaker Values

AFSC announced that it has expanded its socially responsible investment policy. The new policy implements an innovative invest/divest framework – taking into account not just the products of a firm but also the impact of the firm’s activities on a community. The updated policy makes AFSC the first institution with a comprehensive immigrant justice investment policy; with a decision to divest from the prison industrial complex as a whole, not just from private prison companies; and with a policy that addresses Israeli apartheid. The policy guides AFSC’s approximately $240 million investment portfolio.

“AFSC’s investment philosophy is to invest responsibly in alignment with our mission as well as with the Religious Society of Friends’ beliefs and testimonies, which include peace, simplicity, integrity, and justice,” said Joyce Ajlouny, General Secretary of AFSC. “An ethical investment policy does not harm returns; in our experience, socially responsible investing has created more competitive and sustainable returns over the long run. We have seen that investing in peace works, and we hope AFSC can serve as a model for others who want their investment portfolios to be aligned with their values.”

AFSC’s previous investment policy already imposed a product-based exclusion of weapon companies, military contractors, fossil fuel companies, and other industries commonly avoided by socially responsible investors. The new human rights screens focus on industries supporting mass incarceration and detention; security, defense, and military industries, including border security, militarized policing, and mass surveillance; and violations of international law and human rights as part of the Israeli occupation of Palestinian and Syrian land and Israeli apartheid.

The implementation of the policy will be guided in part by AFSC’s Investigate database, which allows investors to scan their stock portfolios and mutual funds to see if they are invested in companies that are involved in state violence. The database lists over 200 company and industry profiles. The information is drawn from many sources, including information published by other independent research initiatives and government agencies, legal documents, academic research, media reports, and corporate documents including annual reports and Security and Exchange Commission filings.

AFSC’s policy reflects a broader trend among Quaker organizations to align financial practices with ethical and moral commitments. The Quaker tradition emphasizes the importance of living out one’s beliefs in all aspects of life, including economic decisions. This policy aligns with the Quaker testimonies of peace, integrity, and justice, which call for a commitment to human dignity and the common good.

The policy also addresses the complex and often controversial issue of the Israeli-Palestinian conflict. By incorporating human rights considerations into its investment decisions, AFSC seeks to challenge systems of oppression and support movements for justice. This approach aligns with the Quaker commitment to peacemaking and reconciliation, as seen in the biblical call to seek peace and justice for all people.

The Quaker tradition has long been associated with social reform and advocacy for the marginalized. By expanding its investment policy to include human rights considerations, AFSC continues this legacy of using financial resources as a tool for social change. The policy underscores the belief that economic decisions can contribute to the creation of a more just and equitable society.

Source: Read the original report