The Vatican Bank, the Institute for the Works of Religion (IOR), has published its first Sustainability Report on its commitment to environmental, social and governance (ESG) principles and the path it has taken towards sustainable finance.
    "This report offers a transparent and comprehensive overview of the measures we are taking to meet the sustainability standards established by the Institute, particularly with respect to ensuring that our investment practices are fully aligned with Catholic faith-compliant principles," IOR President Jean-Baptiste Douville de Franssu said in his foreward to the report, which regarded the bank's activities in 2024.
    The report said the IOR has adopted a policy that avoids investing in companies involved in activities detrimental to human life, the environment, society or governance.
    "The IOR recognises that environmental degradation is not merely a scientific or economic concern, but one that affects human dignity and moral responsibility," it said.
    "Care for nature is inseparable from the concern for justice and the defence of human life in all its stages".
    It said, for example, that the bank reduced the amount of office paper it purchased by 20% in 2024 compared to 2023.
    It said the electricity used comes from renewable sources and that energy efficiency has been improved through office modernisation and the use of LED lighting.

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