FALLS CHURCH, Va., June 18, 2015 /PRNewswire/ -- Azzad Asset Management today welcomed Pope Francis' encyclical calling for swift worldwide action to combat climate change, protect the environment, and move toward economic equality.
In the encyclical released today, Laudato Si, the pope issues "an urgent invitation" to people of all faiths to reduce their consumption of resources and make changes in their daily lives in order to safeguard the earth for future generations. He calls for sweeping government and economic reforms to counter environmental destruction and economic injustice.
In a statement, Azzad said:
"Pope Francis has been a tireless advocate for social justice, reaffirming the Catholic ethic of caring for 'the least among us' and challenging people of all beliefs to answer the universal call to serve humanity and protect the earth we share. Azzad Asset Management applauds the pope for making the moral case for action on sustainability and encourages our fellow Muslims to contemplate the Qur'anic reminder to 'tread lightly on the earth' (25:63) as we endeavor to maintain justice and environmental stewardship as organizing principles in our financial affairs."
In previous comments on social justice issues, Pope Francis has warned against government corruption, economic imbalance, and the exploitation of the poor, and said that usury "harms the inviolable dignity of the human person."
In today's encyclical he echoed those sentiments, saying, "[W]e have to realize that a true ecological approach always becomes a social approach; it must integrate questions of justice in debates on the environment, so as to hear both the cry of the earth and the cry of the poor." The letter also drew inspiration from a Muslim thinker when it discussed seeing God in aspects of creation.
Azzad added its voice to that of the Interfaith Center on Corporate Responsibility (ICCR), a shareholder coalition of faith-based and responsible investors, which welcomed the pope's statement with its "vital message regarding our shared moral responsibility to live in harmony with the environment." ICCR member comments in support of Pope Francis' encyclical can be found here.
Azzad joined ICCR earlier this year, becoming the first Muslim member of the shareholder coalition. ICCR's 300 member organizations, with over $100 billion in assets under management, have an enduring record of corporate engagement that has demonstrated influence on policies promoting justice and sustainability in the world.
Azzad is a socially responsible financial services company dedicated to creating financial solutions in accordance with Islamic principles. The firm was founded on the philosophy that a sound investment considers both its social and ethical consequences. Since 1997, Azzad has worked to deliver innovative, ethical financial products and services that help clients achieve their dreams in harmony with their values.
Azzad is investment advisor to the Azzad Funds and sponsor of the Azzad Ethical Wrap Program. The Azzad Funds are professionally managed equity and fixed income mutual funds registered with the SEC under the Investment Company Act of 1940. The Azzad Ethical Wrap Program is a turnkey wealth management solution for individuals and businesses, including retirement planning, college savings, and managed accounts. Azzad is headquartered in the suburbs of Washington, DC, and serves clients nationwide.
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SOURCE Azzad Asset Management