The Church of England has created a £100m fund after a report confirmed its funding arm’s historic hyperlinks to transatlantic slavery.
The origins of the Church Commissioners’ endowment could be traced partly to the Queen Anne’s Bounty, a fund established in 1704, a brand new report confirms.
The £100m fund will go in direction of a programme of funding, analysis and engagement “to handle a few of the previous wrongs by investing in a greater future”, the Church Commissioners’ Board stated.
The funding can be delivered over a interval of 9 years, with a selected concentrate on communities affected by historic slavery.
“It is hoped this fund will develop over time, reinvesting returns to allow it to have a optimistic legacy that can exist in perpetuity, and with the potential for different establishments to take part, additional enabling progress within the measurement and influence of the fund,” the Board stated.
Part of the cash can be used to fund analysis by Church of England cathedrals, dioceses and parishes into historic hyperlinks with slavery.
The Board has additionally dedicated to being a accountable investor to sort out modern-day slavery.
An oversight group can be established this 12 months with a “important” variety of members from communities impacted by slavery.
The Archbishop of Canterbury, the Most Rev Justin Welby, who can be Chair of the Church Commissioners, stated: “The full report lays naked the hyperlinks of the Church Commissioners’ predecessor fund with transatlantic chattel slavery. I’m deeply sorry for these hyperlinks.
“It is now time to take motion to handle our shameful previous.
“Only by obeying the command in 1 John 1:6-7 and addressing our previous transparently can we take the trail that Jesus Christ calls us to stroll and face our current and future with integrity.
“It is tough to do that at a time when sources in lots of parishes are so stretched, however by performing rightly we open ourselves to the blessing of God.”
The Bishop of Manchester, the Rt Rev Dr David Walker, Deputy Chair of the Church Commissioners, stated:
“It is vital for the Church Commissioners to grasp and be clear about our previous so we will greatest assist the mission and ministry of the Church of England, at this time and sooner or later.
“Discovering that the Church Commissioners’ predecessor fund had hyperlinks to transatlantic chattel slavery is shaming and we’re deeply sorry.”