Posted on 05/24/2020 4:36:54 AM PDT by KC_Lion
ROME — The director general of the Vatican bank, Gian Franco Mammì, confirmed this week that the institution holds no investments in the fossil fuel industry, apparently in response to challenges from climate change activists.
Mr. Mammì told the U.S.-based National Catholic Reporter that the Vatican bank follows the same practices as other European banking institutions, investing in treasury instruments rather than private equities.
In recent months, the Vatican has been plagued with a series of financial scandals, a number of which involved questionable investments.
The Italian daily Corriere della Sera revealed in December that the Vatican’s Secretariat of State had invested upwards of a million dollars to finance the Rocketman film, a steamy biopic of singer-songwriter Elton John with a graphic scene of gay sex.
Using money donated by the Catholic faithful through worldwide “Peter’s Pence” collections, the Vatican invested some €6 million to become a 25-percent partner in Lapo Elkann’s eyewear and “lifestyle products” company as well as becoming a €10 million partner with industrialist Enrico Preziosi, the chairman of the Genoa soccer team, according to a report from Il Giornale.
Perhaps more problematically from an ecological standpoint, the Vatican’s biggest investment (€16 million) went to the Swiss-Swedish ABB company, which produces parts for nuclear power stations and allegedly participated in the destruction of a Malaysian rain forest.
In its report, Corriere della Sera stated that Vatican capital makes up at least two-thirds of the funds managed by the Malta-based Centurion Global Fund, through which it has financed an eclectic series of projects including real estate, mineral water, websites, and films.
(Excerpt) Read more at breitbart.com ...
Il PapaFrank tha God has probably made sure the Vatican has a good portfolio that includes shares in Planned Parenthood. He’s the second coming of Herod.
betcha the vatican website is powered by electricity generated from fossil fuel.
If they’re investing in God-less China, they’re investing in fossil fuels.
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