Church to sell €5m ‘tainted’ shares

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Enda Leahy



THE Church of Ireland is set to sell €5m of shares in Cement Roadstone Holdings (CRH) because of its involvement in the construction of the Israeli “security” wall in the occupied West Bank.

The investment committee of the Church of Ireland’s representative church body wrote to the company less than a fortnight ago raising the church’s concerns about the construction and asking for the company’s response.

A spokesman for the Church of Ireland confirmed last week that it had been in touch with CRH in relation to the church’s ethical investment policy. The move followed the adoption of a report by the Anglican consultative council (ACC) earlier this year which recommended a review of investments in companies connected with the Palestinian-Israeli conflict.

“The ACC never issued a specific recommendation about this issue but it was raised with reference to the Church of Ireland’s investments,” the spokesman said.

“The investment committee here raised the issue with CRH but we’re awaiting a response.” The Church of Ireland last year had investments of €168m, of which 3.8% was in equity in CRH, the third-largest investment in any single company.

http://www.timesonline.co.uk/newspaper/0,,176-1785830,00.html