Harries v Church Commissioners for England
Encyclopedia
Harries v The Church Commissioners for England [1992] 1 WLR 1241 is an English trusts law
case, concerning the possibility to invest ethically. It tempers the decision in Cowan v Scargill
to show that trustees can make investments, guided by ethical considerations, if it can be shown that overall financial performance would not be harmed, but also if it would be consistent with the purpose of the trust.
, Richard Douglas Harries, challenged the Commissioners to change their investment policy. 85% of the fund provided income for stipends for serving clergy, pensions for retired clergy and housing for both. Harries argued that investments should not be selected that were incompatible with ‘the promotion of the Christian faith through the Church of England
’ even if it involved financial detriment. The Commissioners argued their policy was fine, of regarding non financial considerations so far as it did not ‘significantly jeopardise or interfere with accepted investment principles’. Evidence showed not investing in South Africa meant not investing in 24% of listed companies.
English trusts law
English trusts law is the original and foundational law of trusts in the world, and a unique contribution of English law to the legal system. Trusts are part of the law of property, and arise where one person gives assets English trusts law is the original and foundational law of trusts in the...
case, concerning the possibility to invest ethically. It tempers the decision in Cowan v Scargill
Cowan v Scargill
Cowan v Scargill [1985] Ch 270 is an English trusts law case, concerning the scope of discretion of trustees to make investments for the benefit of their members...
to show that trustees can make investments, guided by ethical considerations, if it can be shown that overall financial performance would not be harmed, but also if it would be consistent with the purpose of the trust.
Facts
The Bishop of OxfordBishop of Oxford
The Bishop of Oxford is the diocesan bishop of the Church of England Diocese of Oxford in the Province of Canterbury; his seat is at Christ Church Cathedral, Oxford...
, Richard Douglas Harries, challenged the Commissioners to change their investment policy. 85% of the fund provided income for stipends for serving clergy, pensions for retired clergy and housing for both. Harries argued that investments should not be selected that were incompatible with ‘the promotion of the Christian faith through the Church of England
Church of England
The Church of England is the officially established Christian church in England and the Mother Church of the worldwide Anglican Communion. The church considers itself within the tradition of Western Christianity and dates its formal establishment principally to the mission to England by St...
’ even if it involved financial detriment. The Commissioners argued their policy was fine, of regarding non financial considerations so far as it did not ‘significantly jeopardise or interfere with accepted investment principles’. Evidence showed not investing in South Africa meant not investing in 24% of listed companies.