Church of England to expand target to address slavery links to 1 billion pounds

Source: Reuters

March 4, 2024 5:06 AM EST


LONDON, March 4 (Reuters) - The Church of England has accepted a 1 billion pound target to address historical financial links to the slave trade as recommended by an oversight group led by descendants of enslaved Africans which said the initial 100 million pounds was too low.

The group said on Monday that the fund was not enough when compared to the scale of the racial disadvantage caused by its past investments, and that the Church Commissioners, who manage the Church's 10 billion pound ($12.65 billion) investment arm today, in partnership with others, should aim for a bigger pot.

"The Church Commissioners have ... embraced a target of 1 billion pounds for a broader healing, repair and justice initiative with the fund at its centre," the oversight group's report said.

It did not contain details about the new pledge, and the Church of England did not immediately respond to a request for comment. Justin Welby, the Archbishop of Canterbury and the spiritual leader of the worldwide Anglican Communion of about 85 million Christians, said in a statement accompanying the report that the group's work was the beginning of "a multi-generational response to the appalling evil of transatlantic chattel enslavement".

Read more: https://www.reuters.com/world/uk/church-england-expand-target-address-slavery-links-1-bln-pounds-2024-03-04/