Press reports have referred to the Church of England’s “pension fund”. There are in fact two clergy pensions funds. For service prior to 1998 clergy pensions are paid by the Church Commissioners from their assets. More recent service is financed by the Church of England Pensions Board. It may not be clear from many of the press reports, but the indirect investment in Wonga is held by the Church Commissioners, and not by the Pensions Board. Both bodies take advice from the Ethical Investment Advisory Group.
Channel 4 News has this helpful FactCheck: What else does the Church of England invest in?.
Many more articles have appeared in the last couple of days. Here are some.
Rupert Neate Justin Welby says Wonga revelations will not divert him
William Taylor The church must be an activist: fight for the poor and expose the corrupt
Marina Hyde I’ve got a crush on the archbishop of Canterbury
Cole Moreton Justin Welby’s Wonga revelation
Jenny McCartney Archbishop Justin Welby is on the money over Wonga
Sharlene Goff and Brooke Masters Archbishop orders inquiry into Wonga funding
Editorial Payday lenders? The Church should keep to matters spiritual
Simon Read Archbishop of Canterbury Justin Welby rows back on war on Wonga: ‘Loan sharks are worse’
Ian Birrell Politics and religion do mix well after all
BBC Radio 4
There was a discussion on ethical investments in this morning’s Sunday programme, starting at 38 minutes.