METHODIST CHURCH - September 2007
In 2007 the Methodist Conference received the Report of Joint Advisory Committee on the Ethics of Investment (JACEI).
The 2007 Annual Report of the Central Finance Board of the Methodist Church stated that it had become a shareholder of Nestlé in the past year.
METHODIST CONFERENCE 2006
The Methodist Conference - the governing body of the Methodist Church in Great Britain - held in June 2006, received the report of the Joint Committee on the Ethics of Investment (JACEI).
This report states: "The Committee stressed the basic premise of the Nestlé Policy Statement that there was no compelling justification for advising the Central Finance Board against investment in the company on the basis of its involvement with breast-milk substitutes, and that dialogue with Nestlé management from the perspective of a shareholder was the appropriate way forward." The Central Finance Board of the Methodist Church (CFB), which manages the investment funds of the Church, is advised on ethical matters relating to investments by JACEI.
JACEI "devoted a considerable amount of time to the subject of Nestlé" and concluded that "Based on the information received and the three-year evaluation process, JACEI advises the CFB that there are presently insufficient reasons to avoid an investment in Nestlé on ethical grounds."
The complete report can be found at:
www.methodistconference.org.uk/Conf06JACE.doc
and full details of the consultation carried out by JACEI including all papers and minutes are at:
www.methodist.org.uk/index.cfm?fuseaction=information.content&cmid=1273
The Methodist Conference debated and voted on four memorials on Nestlé. In acknowledgement of the concerns expressed relating to the marketing of breast-milk substitutes, the Conference directed JACEI to keep these concerns under review. In the event of an investment in Nestlé, JACEI was instructed to provide further reports to the Methodist Conference on Nestlé’s ethical performance. The Nestlé memorials (M21, M22, M23 and M24) and replies can be found in the document at the following link:
www.methodist.org.uk/downloads/Conf06_Memorials_pc.doc
Further, the JACEI report noted:
"The Committee was pleased that its recommendations had been implemented quickly, with a joint Central Finance Board/Public Life and Social Justice meeting taking place with Nestlé’s Chief Executive in December to discuss a variety of ethical concerns. The Committee noted that it was rare for the Central Finance Board to have an exclusive meeting with the chief executive of such a large company."
Nestlé will continue its engagement with the Methodist Church and welcomes the opportunity to hold discussions with its representatives.
