ECF President & CEO Dail St. Claire Speaks at Culture Shift Labs Panel
In September, as President and CEO of the Episcopal Church Foundation, I had the pleasure of participating in a Culture Shift Labs panel with Bhakti Mirchandani, Managing Director of Responsible Investing at Trinity Church New York, and a leader in social entrepreneurship. Our discussion covered portfolio returns—100 percent financial and concessionary—the mission of The Episcopal Church, and the Episcopal Church Foundation.
Bishop Henry Knox Sherrill established the Episcopal Church Foundation in 1949 to strengthen The Episcopal Church and its congregations. The Episcopal Church Foundation has long recognized that our mission includes the communities where our church buildings stand.
Bhakti Mirchandani notes that the investment portfolio is a powerful tool that nonprofits and faith-based organizations can use to support their missions. The nearly 68,000 congregations that earn part of their income from investments can hire full-time staff or consultants to align their portfolios with their missions. Ms. Mirchandani highlighted how faith-based investment portfolios align with the common goal of many religions: advancing human dignity.
Advancing Human Dignity
According to several market studies, aligning companies with human dignity can enhance shareholder value. She stated that aligning investment portfolios with human dignity is broad and flexible enough to span the entire portfolio across different market conditions without increasing portfolio risk concentration or compromising returns. It is also intuitive enough to communicate with asset managers, financial institutions, or other advisors, as well as with congregations and the general public.
Trinity Church in New York City employs the following three-part approach to responsible investing with its asset managers, focusing on sustainability research that emphasizes material and long-term value creation.
- Baseline Responsible Investment Assessment
- Active Partnership
- Accountability and Broader Impact
I shared my experience serving on the Investment Advisory Committee of the New York State Common Retirement Fund (NYSCRF), a $300 billion public pension fund, which oversees its $50 billion Climate and Sustainability portfolio. While achieving 100% financial returns, NYSCRF actively follows 9 of the 17 United Nations Sustainable Development Goals (SDGs), including Human Rights and Economic Development.
To the final question, what are The Episcopal Church's thoughts on current events? I said our response is rooted in deep theological principles and discernment together. I quoted from Presiding Bishop Sean Rowe’s letter, which he wrote while meeting with global partners at the World Council of Churches.
“As we have discussed how our institutions might act faithfully and boldly in these turbulent times, I have been reflecting on how we Episcopalians can respond to what is unfolding around us as followers of the risen Christ whose first allegiance is to the kingdom of God, not to any nation or political party….
As Christians committed to striving for justice and peace among all people, we know that there is a better way…We are finding ways to respond as Christians to what we see happening around us….At its best, our church is capable of moral clarity and resolute commitment to justice…
I have been reminded that we are part of a global communion of hope in the risen Christ. We do not stand alone as we live by our baptismal promises to preserve in resisting evil, to strive for justice and peace among all people, and to respect the dignity of every human being.” Presiding Bishop Sean Rowe, June 11, 2025
A thunderous applause erupted from an auditorium filled with people of various faiths or no faith at all.