Catholic social teaching emphasizes that the economy is meant to serve people, not the other way around. Early in his pontificate, Pope Francis warned that an “idolatry of money” threatens to “devour everything which stands in the way of increased profits,” with the environment and vulnerable members of society “defenseless before the interests of a deified market, which becomes the only rule.” Catholic teaching demands the opposite: that we value the dignity of interconnected life more than the accumulation of wealth, and that we use our resources for the advancement of the common good.
Impact investment is informed by these principles and seeks to generate measurable social and environmental benefits alongside financial return. By avoiding a singular focus on profit, this positive vision of finance can help to rehumanize economic activity and refocus financial resources on providing common benefits to all, especially the most vulnerable. This dialogue explored how impact investing can help people use their financial resources to address specific social and environmental challenges while ensuring the longevity and sustainability of their investments. Participants discussed how profit-driven financial systems can stifle social progress and contribute to ecological destruction, as well as how investments guided by Catholic social teaching can serve as a new way forward to care for the planet and each other.
Kimberly Mazyck, associate director of the Initiative on Catholic Social Thought and Public Life, moderated the conversation. Felipe Witchger, co-founder and executive director of the Francesco Collaborative, offered closing remarks.
This gathering will have three parts:
6:00 - 7:00 p.m. | Welcoming Happy Hour
Meet and network with other young leaders over food and drink
7:00 - 8:00 p.m. | Dialogue
A conversation on “Building an Economy for the Common Good: Catholic Social Thought and Impact Investing” with four leaders
8:00 - 9:00 p.m. | Reception
Continue the conversation with other young leaders over food and drink
This Salt and Light Gathering, co-sponsored by the Francesco Collaborative, was for Catholics under 40 years old in Washington to help them explore links between faith, Catholic social thought, and their lives and work. Learn more about the Initiative’s Salt and Light Gatherings online.
Resources
View articles and other resources for this dialogue.
