American religious investors cite the use of sweatshops as their top concern within a realm of business ethics, a new survey shows.
“The Ethical Issues Report: What Matters to Religious Investors,” was released Nov. 12 by Mennonite Mutual Aid (MMA).
After sweatshops the rest of the top five concerns are, in order: product safety record, high CEO pay, environmental record and adult entertainment.
“These data may serve to demolish the stereotype that religious investors are narrowly concerned with only traditional ‘sin’ issues, such as pornography and abortion products,” said John L. Liechty, senior vice president of financial services for MMA, in a statement concerning the report.
Secular issues
“While those topics certainly are a factor in the thinking of many religious investors they do not preclude concerns about far-ranging ethical issues in the ‘secular’ business world.”
Opinion Research Corporation International conducted the survey on behalf of the Goshen, Ind. –based Mennonite organization. It polled 2,096 Americans including 1,199 investors.
Eighty percent of the investors surveyed said they considered themselves to be religious or spiritual.
MMA President Howard L. Brenneman said the findings on the religiosity of investors could have broad implications.
“It is apparent these investors are paying attention to the ethical practices of the world around them, including the business in their mutual funds and stock portfolios,” he said in a statement.
The report found that 33 percent of religious investors would dump a mutual fund if it involved companies that they consider unethical. Another 33 percent of them said they would consider dumping such a fund.
MMA is an organization that helps Anabaptists and others include biblical perspectives in their decisions about insurance, finances and charitable giving.
They survey conducted Sept. 11-15 has a margin of error of plus or minus 3 percent.
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