In the Book of Matthew, Jesus tells the Parable of the Talents. A master distributes his possessions among three servants according to their ability, then departs. The servant given five talents doubles them, as does the one given two. The servant given one talent buries it in the ground. When the master returns, he praises the two who doubled their talents and condemns the one who buried his. The parable teaches that God trusts each of us according to our ability and calls us to steward our resources faithfully, investing in a way that glorifies Him.
In May, I had the privilege of traveling to the Vatican for the “Faith-Consistent Investing for a Global Church” working session on Mensuram Bonam, a document released by the Pontifical Academy of Social Sciences in 2022 to guide Catholics worldwide in applying a moral, Catholic lens to investing. I was joined by our CEO, Richard Todd, and our spouses. Neither of us knew quite what to expect, but as investment practitioners who apply Catholic Social Teaching to client portfolios, we knew we could lend our expertise to help update the document. The session brought together 80 people from around the world; Innovest was one of only two American advisory firms that attended.
As members of Legatus, Latin for “Ambassador,” Rich and I were honored to take part. Legates are ambassadors for Christ whose mission is to study, live, and spread the Catholic faith in their business, professional, and personal lives. Over the years, Legatus has promoted pro-life issues across its U.S. chapters, hosting speakers such as Lila Rose and Kristen Hawkins. Rich and I have also spoken at the National Legatus Summit on aligning Catholic investment portfolios with pro-life teaching. Our invitation to the Mensuram Bonam working session reflects that same commitment lived out in our business practice.
Mensuram Bonam calls Catholics to steward investable assets for the common good through three principles: exclude, engage, and enhance.
- Exclude means avoiding “sin stocks” objectionable to our faith, such as those tied to abortion or pornography.
- Engage means using our influence where we have it, for example, pressing companies that offer transgender or abortion benefits in their employee plans to consider more life-giving alternatives, such as adoption benefits.
- Enhance means investing in companies that support human flourishing, both within their own culture and for society at large through chaplaincy programs, pro-life benefits packages, or flexible schedules for families with children.
Innovest was able to contribute to the discussions at the Pontifical Academy of Social Sciences at the Vatican because our work with Catholic clients goes beyond portfolio screening: we also evaluate the values and behavior of the asset managers we recommend and help our clients in vote proxies in a manner consistent with Catholic teaching. Many Catholic investors, unknowingly, work with investment advisors and managers who are not aligned with their values.
Years ago, during a due diligence assessment for a new Catholic client relationship, we discovered that a manager in the portfolio was taking fee dollars from the client, and other Catholic clients, and donating them to Planned Parenthood. Other examples of misalignment include Catholic institutions hiring firms who host online chat rooms for minors who want to transition to the opposite gender, as well as offer transgender benefits that cover surgery for minors. Historically, we as investors have never had to ask these questions and many investors still don’t think to ask. However, once uncovered, the misalignment is obvious. Mensuram Bonam pushes us to ask these kinds of questions, in service of its engage and enhance principles.
Mensuram Bonam also discusses proxy voting. Shareholder proxies were once focused almost entirely on governance, but the rise of cancel culture has pushed more social issues onto the ballot. Catholic shareholders often unknowingly vote to support abortion or transgender benefit policies or business practices that exclude religious organizations from employer-match donation programs. In 2025 alone, at least five corporate proxy resolutions supporting abortion came to a shareholder vote. Unfortunately, Catholics voted in favor of them.
It is easy for Catholic investors to feel that pro-life, flourishing-oriented investing is not achievable. It is, but it takes conscious effort. With the evolution of Mensuram Bonam, the United States Conference of Catholic Bishops (USCCB’s) investment guidelines, and the choice to work with aligned practitioners, Catholics can invest in a way that honors their faith without sacrificing returns. As the Parable of the Talents reminds us, God entrusts each of us with different resources, time, and abilities, and expects us to use them well in His honor. In doing so, we can hope to hear, as the parable concludes: “Well done, my good and faithful servant.” (Mt. 25:21; 23)
Image: Photo by Alexander Mils on Unsplash
