Most Church of Scotland investments are managed by the denomination’s Investors’ Trust . It runs three funds (growth fund, income fund and deposit fund) into which local congregations and national church bodies can put their money (although they may put it elsewhere if they wish).
The Investors’ Trust makes ethical decisions by “taking into account” the views of the Church of Scotland’s General Assembly, while not technically being bound by them. It operates negative screening by ruling out any company that makes more than 15% of its turnover from arms, alcohol, gambling, tobacco or “other activities which are felt to harm society more than they benefit it”. There is also an element of positive screening; the Trust is committed to seeking out companies with good practices in regards to employment, governance, human rights, environmental performance and sensitivity to local communities.