Title: Church of the Brethren considers divestment from Caterpillar July 11, 2006 Church of the Brethren News Service Cheryl Brumbaugh-Cayford, News Director 800-323-8039 ext. 260 -- cobnews@brethren.org
CHURCH OF THE BRETHREN CONSIDERS DIVESTMENT FROM CATERPILLAR CORPORATION, URGES REVIEW OF INVESTMENTS IN RESPONSE
July 11, 2006 (Elgin, IL) -- The Church of the Brethren Annual Conference considered a resolution on "Divestment from Companies Selling Products Used as Weapons in Israel and Palestine" when it met in Des Moines, Iowa, July 1-5. The Conference is the annual meeting of delegates from congregations and districts in the United States and Puerto Rico, and is the highest authority in the Church of the Brethren.
The Conference declined to adopt the resolution that was focused in particular on divestment from the Caterpillar Corporation. Instead, the Conference expressed appreciation for the resolution and thanked the Brethren Benefit Trust for its efforts to dialogue with the Caterpillar Corporation.
In its action, the delegate body also urged "Brethren agencies and individuals and other people of faith to review their own investments and refrain from investing in businesses that profit from war and violence, and to give faithful witness to Jesus Christ as the Prince of Peace in financial matters as in all other matters."
The resolution had asked Brethren Benefit Trust in particular to divest from the Caterpillar Corporation "and any other company that sells products that are used routinely as weapons of destruction or death in Israel and Palestine." Brethren Benefit Trust handles insurance and pension benefits for church employees, and is responsible for investment services, among other ministries it provides in the Church of the Brethren.
Since the resolution originated in the church's Pacific Southwest District, and was received by the Annual Conference, the stocks at issue were sold by the trust's fund managers simply as a financial decision. Brethren Benefit Trust no longer owns stock in Caterpillar.
The trust's initial approach to the issue was not to divest but to use the shares that it held to speak to Caterpillar, president Wil Nolen told the Conference. Referring to Caterpillar's D9 bulldozers made to military specifications, Nolen told the body that "our approach was to directly inquire of Caterpillar how this...conforms with their own Worldwide Code of Conduct."
In other business, the Conference welcomed and adopted a resolution on "Commitment of Accessibility and Inclusion" from the Association of Brethren Caregivers. The action urges "each congregation, agency, institution, facility and gathering" in the denomination to recommit to becoming fully accessible and including every person in its ministry.
"A Call to Reduce Global Poverty and Hunger" also was adopted, calling on Brethren to pursue the Millennium Development Goals developed by the United Nations in 2000, including universal primary education, reduction of child mortality, improvement in maternal health, care for the environment, combating infectious diseases, and empowerment of women. The resolution closes, "Through prayer, study, and concrete action, let us resolve to act so that those who know extreme poverty and hunger might enter more fully into the abundance of God's love."
The Church of the Brethren is a Christian denomination committed to continuing the work of Jesus peacefully and simply, and to living out its faith in community. The denomination is based in the Anabaptist and Pietist faith traditions and is one of the three Historic Peace Churches. It celebrates its 300th anniversary in 2008. It counts about 130,000 members across the United States and Puerto Rico, and has missions and sister churches in Brazil, the Dominican Republic, Haiti, and Nigeria.
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For more information contact:
Cheryl Brumbaugh-Cayford Director of News Services Church of the Brethren General Board 1451 Dundee Ave., Elgin, IL 60120 800-323-8039 ext. 260 cobnews@brethren.org
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