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The Catholic Diocese of Madison, Wis., is taking a drubbing on social media for investing in companies that support abortion and embryonic stem cell research.
The diocese's foundation, the Catholic Diocese of Madison Foundation, is investing in companies that "are contrary to the beliefs of the Catholic Church, such as companies associated with adult entertainment, contraception, and abortifacient products, and embryonic stem cell research," according to a press release.
The press release notes that the foundation's investments are in accordance with "socially responsible investment guidelines" set up by the US Conference of Catholic Bishops.
"The use of social screens and a focus on companies and mutual funds that support Catholic teaching help avoid investments in products or philosophies that are contrary to the beliefs of the Catholic Church, such as companies associated with adult entertainment, contraception, and abortifacient products, and embryonic stem cell research," the release states.
The Fond du Lac Reporter notes that the Catholic Diocese of Madison is one of the largest dioceses in the US with around $1 billion in assets.
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