The power of an activist documentary to change the world is astonishing. Even though it wasn’t nominated, Blackfish has brought awareness to the plight of orcas in captivity. Virunga, a film I hope wins the Oscar (and if not that, Last Days in Vietnam, though CitizenFour will win), outs a mining company for further endangering the mountain gorillas. Very few of them are left. The Church of England very rarely, according to this Guardian piece, reveals its investments but has released the following statement:
“Following board-level engagement between the Church of England Ethical Investment Advisory Group (EIAG) and Soco International plc, the EIAG has raised serious concerns about the company’s determination to satisfactorily address, in an open and transparent manner, allegations concerning the operations of Soco in and around the Virunga national park in the Democratic Republic of Congo.”
The film’s producer said, “We always hoped the film would bring the story of Virunga to the fore. We are truly excited that the Church of England has responded in this way.”
If you have not seen Virunga, what are you waiting for?
Full statement from the Church of England:
EIAG issues statement on National Investment Bodies holding in SOCO
The Church of England Ethical Investment Advisory Group (EIAG) has issued a formal statement relating to the holdings of the Church’s National Investing Bodies in SOCO International Plc.
“Following Board level engagement between the Church of England Ethical Investment Advisory Group (EIAG) and SOCO International Plc (SOCO), the EIAG has raised serious concerns about the Company’s determination to satisfactorily address, in an open and transparent manner, allegations concerning the operations of SOCO in and around the Virunga National Park in the Democratic Republic of Congo (DRC).
These allegations are of a serious nature and require a response from the Board that urgently seeks to restore the confidence of shareholders. We find the efforts of the Company to date have not been sufficient.
Through the engagement undertaken by the Church of England EIAG a series of steps were identified to the Company that should be taken to restore confidence. These included:
1. Instigation of a wide ranging and transparent independent enquiry of SOCO’s operations in and around Virunga National Park, including the publication of the enquiry scope, outcome and confirmation of any resulting actions.
2. Amendment of the previously issued statement agreed between SOCO and WWF to remove any room for doubt about their intentions within existing or future boundaries of a World Heritage Site so that there are without exception, no circumstances in which SOCO would conduct further exploration or production activities in the Virunga National Park. And for this to be communicated to the World Heritage Committee.
3. To adopt and publish best practice standards across a wide range of its operations.
4. To date it is unfortunate that the Company has not felt it possible to take these steps. The EIAG do not normally disclose the contents of our discussions with a company. However, if we judge that sufficient progress is not being made we reserve the right to issue public statements, seek to move shareholder resolutions and/or to divest from the company.
The EIAG will continue to monitor the company’s activities and to engage with the Board.
ENDS
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