A commissioners’ resolution to request the two primary investing agencies of the Presbyterian Church (U.S.A.) discontinue investments in government debt of countries engaged in a “prolonged military occupation” was overwhelmingly approved by the Financial Resources Committee of the 226th General Assembly, despite concerns by some denominational officials that there was no current way to implement the recommendation.
In the end, however, a feeling of urgency won out over process, and the recommendation was approved 42-2. The assembly will consider the recommendation when it meets in Salt Lake City next week.
“Holding stocks such as this sickens us,” said Doug Orbaker, a teaching elder commissioner from Presbytery of Northumberland. “It’s participation in an evil system.”
The resolution asked the assembly to call on the Board of Pensions and the Presbyterian Foundation to cut their investments in debt of such countries – currently Israel, Turkey and Morocco – and to ask the denomination’s Mission Responsibility Through Investment (MRTI) Committee to create a mechanism to deal with such countries in the future.
The Presbyterian Board of Pensions, Presbyterian Foundation, Advisory Committee on Social Witness Policy and Presbyterian Mission Agency Board were all supportive of the goal but said no current processes or procedures exist to implement the resolution. The denomination’s divestment procedure applies only to U.S.-based corporations, not government entities.
“It’s participation in an evil system.” — Doug Orbaker
“We cannot support war machines and the killing of people,” said Dana Monk, a ruling elder and commissioner from the Presbytery of Santa Barbara.
