Salvatorian sisters appeal: ‘Please no gold in financial investments!’

According to legend, the wise men brought gold, frankincense and myrrh to the baby Jesus. Today, gold investments are said to be highly profitable, but Sr Brigitte Thalhammer from the Salvatorian Sisters and Sr Anneliese Herzig from the Austrian Conference of Religious Orders (ÖOK) warn of the negative consequences of gold mining: human rights violations and environmental damage. They advise against investing in gold. The Salvatorian Sisters have had an investment advisory board and guidelines for ethical investments since 2015. They deliberately avoid gold in their portfolio, as every purchase drives production and thus the negative side effects.

Sister Anneliese Herzig emphasises the need to change the gold narrative: Gold is fascinating, but also destructive. She is committed to raising awareness with the Epiphany Campaign of the Austrian Catholic Youth Organisation. ÖOK also adheres to ethical guidelines and excludes gold investments. Managing Director Peter Bohynik refers to the updated guidelines of the Catholic Church, which have prohibited new investments in gold and precious metals since April 2024.

Around 20 tonnes of rock have to be mined to produce one ring, which is associated with serious human rights violations and environmental damage, explains Sr Brigitte Thalhammer. Sr Anneliese Herzig sees the topic of gold investment as important and is committed to raising awareness. She emphasises the responsibility of the church, which has profited from colonisation.

The FINANKO guidelines for ethical investments were tightened by the Catholic Church to exclude investments in gold and precious metals. Peter Bohynik emphasises the importance of a united Church approach to financial matters.

Source: Press release from the Austrian Conference of Religious Orders (ÖOK) Ordensfrauen appellieren: „Bitte kein Gold in den Finanzanlagen!“