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Corporate responsibility

Accountability

We account to Church and State via the General Synod and Parliament. Both bodies are represented in the Commissioners’ membership, both approve Church legislation and both receive our annual report and accounts.

In 2008 we answered 54 parliamentary questions on a range of topics, including the asset management and tenancies, spending plans and funding for mission initiatives; plus eight questions in Synod.

A notable topic in Parliament was that of the planned new water rates regime, where we helped to put the Church's case that the proposal may put at risk the work of churches and local voluntary organisations.

Ethics

We apply our ethical policy to all classes of investment, and are advised by the Church of England Ethical Investment Advisory Group which represents the central Church of England investment bodies. This year the group looked in particular about investment issues around embryonic stem cell research and cloning.

Further information about the ethical investment policy and the EIAG's background research papers are at www.cofe.anglican.org/info/ethical.

Environment

We hold a £6.5 million stake (at the end of 2008) in Impax Environmental Markets Plc, an investment trust that has focused on investment in markets for cleaner or more efficient delivery of energy, water and waste.

We aim to reduce carbon emissions in our offices through the use of energy-efficient lighting and information technology. As landowners and landlords we promote sound environmental practice where we can.