Know from where you came and to where you are going.” It had never occurred to me to apply these familiar words of Akavya ben Mahalel not just to our lives but to money. Where does our money come from, ethically, and where should it go, for the good of creation?
These questions came to the fore when I had to speak on behalf of EcoJudaism at the first FaithInvest conference in Paris. Titled Faith in the Common Good and subtitled The International Faith-Consistent Investment Forum, it brought together major faith-based investors and – mainly Christian – religious leaders.
This was unfamiliar territory for me, but important, because, as founder Martin Palmer stressed, faiths are the largest supporters of civil society worldwide, including education, health and finance. Without faith communities, civil society would collapse. Therefore, what faiths do, including with their money, has huge impact.
This touched a deep frustration. Like many, I’m passionate about social justice, climate and biodiversity, and speak about it often. Yet the extractive economy keeps expanding and the world continues on its self-destructive course. What can one do to make an actual difference? Maybe money can talk in a way values alone can’t, and money, guided by values, might just talk in the right way.
Jean-Baptiste de Franssu, chair of the Vatican Bank, noted that faith-based organisations invest trillions, but in largely undirected ways. The conference aimed to motivate religions “to step forward together and transform society through the power we share” by using our investments impactfully for the long-term good of all life.
Jews share with Muslims the prohibition against lending on interest, especially to those in need. But we both have a Heter Iska or similar – “permission to do business” – allowing investments for capital projects. How should such investments be used?
Without faith communities, civil society would collapse. Therefore, what faiths do, including with their money, has huge impact
Firstly, what should we avoid? The Torah prohibits putting a stumbling block before the blind. The Mishnah (Avodah Zarah 1:7) understands this metaphorically as forbidding the sale to anyone whose values can’t be trusted of “anything which may cause damage to the public”. Dr Meir Tamari, former chief economist of the Bank of Israel, says: “There are often activities in business which… lead others to do things which are immoral, harmful to themselves, or forbidden.” He references investing in arms, drugs and pornography. We should add human slavery and environmental destruction. The Talmud discusses how far our responsibility extends: “What about before, before the blind?” In other words, our concern may extend not just to the ethics of those we empower with our money, but to those they might in turn enable.
Beyond what to avoid, it can be argued that there is a religious obligation to make a positive impact. According to Mishnah Bava Batra 1:5, citizens are obliged to contribute to the costs of a protective wall and city gates. But after those were built in his town, Rabbi Yehoshua ben Levi stopped receiving visits from Elijah, who only meets with the truly righteous. “Why?” asked the rabbi when Elijah eventually returned. “Because you shouldn’t be living in a place which shuts out the poor.” By extension, we shouldn’t use our money in ways which fail to include them.
Finally, Mishnah Peah, which we quote daily, requires farmers to leave the corners of their fields and the gleanings for the poor. If this applies to the growth of crops, why not to growing money? Yields should be of social and environmental benefit.
Jewish organisations probably don’t own collective funds as some other faith denominations do. But we have private investments, pensions and charity monies. While there are Jewish experts on ethical finance, I’m unsure if we’ve considered collectively how our Jewish values should inform the best ethical impact of our monies.
“Think of investment as a form of prayer,” said Hayu Prabowo of the Indonesian Council of Ulema. This hadn’t occurred to me. But I did recall Akayva ben Mahalalel’s reminder that it is not just before shareholders, but before the God of all life that we have to render our accounts.
Jonathan Wittenberg is the senior rabbi of Masorti Judaism, and founder of EcoJudaism, which plans to hold a gathering on this subject
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