Articles from our Library
Mary Brunson
Stemming the Tide
Mary Brunson
Thursday, December 22, 2011
"Those who advocate research on embryonic stem cells in the hope of achieving such a result make the grave mistake of denying the inalienable right to life of all human beings from the moment of conception to natural death."
– Address of His Holiness Benedict XVI to Participants in the International Conference Promoted by the Pontifical Council for Culture, 12 November 2011
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As we would hope and expect, the Vatican and the U.S. Conference of Catholic Bishops have led the charge in vocally opposing embryonic stem cell research. In November, the Vatican hosted an international conference featuring well-known critics of this particular type of stem cell research, including David Prentice of Catholic University in Washington, D.C., and accomplished stem cell researcher at Harvard, Konrad Hochedlinger.
The Holy Father delivered a well-thought-out statement, calling for consciousness of thought about the serious risks that the “inviolability of human life could be subordinated to purely utilitarian concerns.”
In a providential turn of events, publicly traded Geron, the California-based research firm recently lauded for being the first to facilitate a human trial utilizing embryonic cells, abruptly shuttered its embryonic program—just two days after the conference wrap up. Geron cited capital funding concerns for tabling their trials. This was most certainly a blow to investors who placed big bets on Geron’s embryonic stem cell progress. Since the beginning of the year, shares of Geron have dropped from $5/share to $1.45 as of December 15, 2011.
Catholic investors have hopefully sheltered themselves from Geron’s calamity. Rather than placing investments in firms that practice this sort of research, Catholic investors would prefer to eliminate them from their investment portfolios.
With consideration toward these preferences, Investing for Catholics proudly shares that the funds it advises on recently added a filter for embryonic and fetal tissue-based research and products.
Specifically, in addition to the exclusions of the Investing for Catholics Index Portfolios, Catholic investors will also exclude companies that:
- Conduct stem cell research with cells derived from human embryos or human fetal tissue
- Use fetal cell lines in the development of vaccines and other biologics, such as therapeutic proteins or gene therapy products
- Develop or produce products for scientific research specifically on embryonic or fetal stem cells, such as technology that isolates or regulates the growth and proliferation of stem cells
By excluding such companies from their portfolios, Catholic investors can formally draw their line in the sand by investing in keeping with the Church’s teaching that medical advances should not be made at unacceptable human cost.
In further consideration of Catholic investment options, Catholic institutional investors may be quite concerned to know that PIMCO founder and mutual fund manager Bill Gross and his wife recently donated $10 million to the Sue & Bill Gross Stem Cell Research Center at the University of California, Irvine, credited as “home to the researchers behind the first human clinical trial in the world for human embryonic stem cell-based therapy,” according to a November 29, 2011 news story.
Concerns over the interference of the sanctity of life weigh heavily on Catholics from an ethical perspective, but these concerns should not be overlooked from an investment perspective. And there is no reason to do so. We have the right, the ability and the tools to invest in keeping with our faith. As Catholics, it’s time for us to put our money where our mouths are.