„Investing money in virtues endeavors, if done without spiritual arrogance, will bring blessings”
Jonathan Granoff is the president of the Global Security Institute based in New York. At the 2021 conference, he presented a paper calling for religious institutions to use their financial resources in harmony with their values. We talked with him about whether there is such a thing as a moral return in addition to financial returns. An interview by Michael Scheyer.
NEW YORK – Mr. Granoff, at the 2021 conference you put two topics on one table that are usually only dealt with separately: Religion and money. How did you come up with the idea of bringing them together? Granoff: All religions strive to uplift and enliven virtuous values in the lives of their adherents. How money is spent expresses those values. To ignore such expression is irresponsible. Religious institutions, I believe, desire to serve peace, respect the dignity of human life, and honor the regenerative processes of the natural world both for the purpose of sustaining life and respecting the Creator of all life. How they invest their resources should be in accord with these purposes. In the Diplomatic Round Table, in which you participated, you presented a paper called “RESPONSIBLE INVESTING FOR A SUSTAINABLE FUTURE.” What exactly is behind it? Granoff: Moral agency is given to all human beings by birth, but it withers if not exercised. The institutions in which we engage should express that agency. Investments should be discussed and evaluated by congregations. By bringing the Lindau Initiative before them they will have a vehicle for such discussion. Having a means of expressing their values will stimulate people to become informed. Causing people to become informed about nuclear weapons, protecting human rights, and environmental sustainability will help them make meaningful decisions. Simply realizing their moral agency itself will be of value. Norway has had a windfall of money due to the discovery and exploitation of fossil fuel. It leaders observed that many nations with this resource have not used it to help take care of the needs of future generations and been profligate with spending the wealth in this generation. This is actually greedy. Moreover, fossil fuels excesses will impair the well-being of future generations. Thus, wise legislators in Norway decided to put some of the funds arising from the windfall into a fund for future generations. Further, they decided that the way the fund invests should not impair future generations and came up with rules of investment guidance. I call that responsible investing. The fund has been enormously successful and is now in excess of a trillion dollars in value. It cannot invest in enterprises that impair human rights such as child labor, benefit from weapons of indiscriminate effect such as nuclear weapons, land mines or cluster munitions, or injure the environment. I thought that if a secular state could have such a wise endeavor, it would be good if religious institutions and other institutions such as universities that have moral values did the same. The process of identifying appropriate investments itself will be of enormous value. Religious institutions that have money traditionally spend their money on charitable causes and emergency relief. What do faith communities get out of investing money as well? Granoff: A clear conscience is the best pillow. A clear conscience is a sanctuary of peace. A person who ignores their conscience, ignores their moral agency to express values of loving kindness, peace, and wisdom which are always in accord with good conscience. A person who ignores the miraculous insights of conscience will suffer. Institutions are a collection of people who deserve the blessings of good conscience.
Jonathan Granoff is the president of the Global Security Institute based in New York. At the 2021 conference, he presented a paper calling for religious institutions to use their financial resources in harmony with their values. We talked with him about whether there is such a thing as a moral return in addition to financial returns. An interview by Michael Scheyer.
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