FREE access to the digital edition and archives until September 2. Click here.

The Catholic Register

Browse2011 › January

January 2011


January 18


The Beatification Coming Down the Road

January 18, 2011

The speculation proved true, (watch the video here or read the Catholic Register story here) and the date set. The Beatification of John Paul II will take place on May 1st and the celebrations have already begun. It is possible that no one is as overjoyed as Sister Marie Simon-Pierre, the French Nun who was miraculously cleared of Parkinson’s. Within days of Benedict XVI’s announcement, different groups expressed their own excitement and perspectives on the decision; The Pontifical Academy for Life was quick off the mark describing the Pope as “a great lover of life and defender” of the unborn.”, The Pontifical Council for the Laity was as excited and announced that for the up coming World Youth Day in Madrid “the future Blessed Pope John Paul would be one of the official patrons of the gathering.”, which seems particularly apt given that John Paul created World Youth Day, and the John Paul Center announced that a church being built in Krakow will feature “A vial containing blood drawn from Pope John Paul II shortly before he died…installed as a relic in a Polish church soon after his beatification this year.” Not everyone is pleased with the speed at which the former Pope is being Beatified. Cathy Lynn Grossman in USA Today canvasses verious opinions within the Church objecting to the decision on a variety of grounds, as does John Allen Jr at the National Catholic Register, while Jimmy Akin at the National Catholic Register and his colleague Pat Archbold debate whether the speed of this beatification is perhaps too swift. Phil Lawlor of Catholic Culture is firing back at the critics, Father Raymond J. de Souza of the Catholic Register has a nicely argued take on the question of a rush to judgement that is well worth reading. William Oddie at the Catholic Herald squares the circle so to speak in an essay enitled “The beatification of Pope John Paul has surprised no one: but it is a great day for the Church: By the time of his death, his greatness had become universally perceived”. It is still early days in the planning process of the ceremony itself but some details are trickling out. This report from EWTN news has the latest details.


January 19


January 21


John Paul II's beatification delights Canadians

January 21, 2011

John Paul II [images/stories/historical_people/PopeJohnPaulII/JPII.jpg]TORONTO - Canada’s Polish community is rejoicing, but not particularly surprised, that Pope John Paul II will be beatified in May, said Fr. Chester Chmurzynski, pastor at St. Anthony’s Roman Catholic Church, a Polish parish in Oakville, Ont. “It’s no surprise,” said Chmurzynski, who was a student of the late pope during his seminary years in Krakow, Poland. “Right after his death, people were already saying ‘Santo subito.’ (sainthood now). “He was a good teacher and a good example. For students, he was very tough. But he was also very friendly and always smiling. He was a good man.” On Jan. 14, Pope Benedict XVI approved a miracle attributed to Pope John Paul II’s intercession — the cure of a French nun from Parkinson’s disease — the last step needed for his beatification set for May 1, Divine Mercy Sunday. On that day, Pope John Paul II will be declared “blessed” and granted restricted liturgical honour. Another miracle is needed for canonization, whereby the Church would declare him a saint and worthy of universal veneration. Pope Benedict sped up the beatification process in 2005 by abolishing the normal five-year waiting period for the introduction of his sainthood cause. Three separate Vatican panels approved the miracle, including medical and theological experts, before Benedict XVI signed the official decree.


January 23


Is Everything about Communications?

January 23, 2011

Sometimes events seem to simply conspire to come together and given that Monday is the Annual World Day of Social Communications and the Vatican is still scrambling to deal with the fallout of the RTE report of a Letter to the Bishops of Ireland in 1997 dealing with the question of what to do and how to deal with the then emerging Sexual Abuse Scandal this would seem to be one of those times. At the same time the Apostolic Visitation ordered by the Vatican (See the Catholic Register Report on Archbishop Collins, who plays a key role in the Visitation) seems to be doing significant good in terms of turning a page in the whole tragic affair. This is the 45th Annual World Day of Social Communications and as has been the case in the past the Papal message for the day confronts the issue of truth and media, especially in the digital age. The day chosen for the meditation is the feast day of Francis de Sales, the patron saint of journalists, and Benedict XVI has some truly apt thoughts about the role of journalists in bringing to light the truth of the world: “To approach the truth and to take on the task of sharing it requires the "guarantee" of an authenticity of life from those who work in the media, and especially from Catholic journalists; an authenticity of life that is no less required in a digital age.” Key to the AWDSC message is the question of authenticity and motivation of the journalists and their organizations in the reporting of the news. Given that much of last week’s ‘news’ about the Church dealt with the revelations concerning the ‘letter’ broadcast by RTE as the Apostolic Visitation was underway (some cynics have remarked on the choice of the ‘hook’ in the timing of the broadcast given that RTE was in possession of the letter for some time) it is apt to try and link the two. The immediate reaction to the news of the letter was that it was “the smoking gun” that linked the abuse scandal to the Vatican itself. The New York Times certainly took that slant, as did the BBC and other news outlets while the Vatican immediately insisted that the media was misinterpreting the letter. In some of the more sober and knowledgeable second day analysis the actual ‘truth’ of the matter becomes somewhat clearer but not necessarily more comforting. John Allen Jr of the National Catholic Register takes on the idea that this letter is a ‘smoking gun’ and concludes it is not. That’s an assessment that Phil Lawler of Catholic Culture signs off on while noting that the letter does speak to the issue of ‘secrecy’ within the Church at the time, something he finds as troubling. David Gibson writing at the Commonweal Blog accepts Allen’s analysis but suggests that smoking gun or not the Vatican is once again engaging in a clumsy communications strategy. That may be but that clearly doesn’t seem to be the case with the Apostolic Visitation going on in Ireland, and given that it is about the present and moving forward maybe this is ultimately the more important story here. The news reports and statements by victims meeting with the Visitation suggest for the most part that this stage of dealing with the Abuse Scandal seems to be going well. As the Register reports Collins has “urged the Irish to be thankful for the work of journalists who brought the scandals of sexual abuse to light. "What does the most persistent journalist who reports priestly evil-doing have in common with St. John Vianney, the holy Curé of Ars, patron of parish priests? They both expect priests to be holy." Archbishop Collins maybe touching the heart of the Social Communications Day message, after all finding some sense of reconciliation maybe the true heart of authentic communications.


January 26


Socially responsible investing goes mainstream

January 26, 2011

In the 20th century big business was strictly business. But in the 21st century companies can’t stay in business if they’re ignoring the environment, hushing talk of human and labour rights or not returning calls from shareholders who want to know what the board is doing and why. Socially responsible investors are no longer on the fringe of the investment world. Where 10 years ago talk of ethical investing drew smirks and rolling eyeballs, today it’s a top-line concern of boards, CEOs and CFOs. “The huge difference (compared to 10 years ago) is that we’ve seen acceptance in the mainstream,” said Michael Jantzi, CEO and founder of Jantzi Sustainalytics. On the environment, social issues and governance, corporations now see non-financial issues, once considered “externalities,” central to running a successful business in the long term, said Jantzi, who established Canada’s socially responsible investing (SRI) stock index — the Jantzi Social Index — in 2000. “We’re only going to see an increased level of interest in these issues,” he said. Particularly on the environment, corporations now regard the risks as anything but external, said Social Investment Organization executive director Eugene Ellmen. “The BP disaster really was a wake-up call. It was a wake-up call for the mainstream industry,” said Ellmen. SRI investors knew BP was running risks in the Gulf of Mexico long before it happened and avoided the stock. Investors who ignored the environmental risks paid the price. The investment industry in Canada is not the world leader in sustainable, socially responsible investment. With 13 separate jurisdictions and regulators at the federal level opting for voluntary codes of conduct and optional enforcement, the global investment industry is setting the tone. Two international covenants have become central pillars in the world of ESG (environment, social and governance) investing. The Carbon Disclosure Project includes 534 institutional investors around the world representing $64 trillion in assets. The corporations and investment funds that subscribe to the London-based CDP are committed to researching and publishing the amount of carbon their business operations release into the atmosphere. Four-hundred-and-eighty-five investment managers, 220 asset owners and 168 professional service partners with $22 trillion in assets under management have signed the United Nations-backed Principles for Responsible Investment. The stock market meltdown of fall 2008 didn’t drive the big investors away from ESG. The largest number of UNPRI signatories came on board after the crisis. In Canada, the big public pension funds are leading the way. The Caisse de dépot et placement du Quebec, OPSEU Pension Trust, British Columbia Municipal Pension Plan and Canada Pension Plan Investment Board are all signatories to the UNPRI. “On the Canadian scene specifically, I think we’ve got some great leadership here in the pension community,” said Jantzi. When the big pension funds call up asking about future environmental liabilities, Canada’s publicly traded companies respond. “Institutional investors are continuing to press for more disclosure on environmental, social and governance issues,” said Jantzi. “And the companies are having to respond.” Canadian markets will be led more by global trends than local regulation, according to Jantzi. “On a global scale, Canadian financial markets just don’t have a huge amount of heft,” he said. Canadian regulators, particularly the Ontario Securities Commission, are beginning to set conditions that will make SRI standard practice. The OSC may soon require publicly traded companies to “say-on-pay.” The SRI community has long demanded that boards reveal how much CEOs and other senior management make — and disclose what incentives are built into their compensation. Even without enforceable say-on-pay rules, ESG Services, working for Ethical Funds and its parent NEI Investments, has been researching how oil sands company CEOs are paid, and whether their pay is tied to reductions in environmental liabilities. They’ve found that the oil sands bosses get paid even if nobody knows how much it will cost shareholders to clean up vast tailing ponds or compensate native communities for downstream health outcomes. For private investors — people who typically buy mutual funds at tax time — the chance to influence corporate Canada on the environment, social issues and governance has expanded exponentially in a decade. Where once persistence was required to persuade a financial advisor to sell an SRI mutual fund, now all the big banks offer socially responsible funds. There’s also been a series of buy-outs of smaller SRI mutual fund companies that have made the funds more easily available. Where Ethical Funds were once only available at some credit unions they’re now sold through Desjardins Bank and the independent brokers that deal with Northwest and Ethical Investments (NEI). Acuity mutual funds are now similarly available through the much larger distribution network of AGF Management Limited. “It puts the socially responsible mutual fund companies on more equal footing,” said Jantzi. “A lot of those advantages haven’t fully kicked in yet.” While the funds are more available, it doesn’t mean that they’ve been impressing investors with great results. “The industry has been somewhat disappointed,” said Ellmen. The JSI has struggled to keep pace with conventional stock indices since the 2008 meltdown. “I don’t put too much stock in short-term results,” said Jantzi. “The financial sector continues to struggle and we’re heavily weighted in the financial stocks.” Holding considerable bank and insurance stocks means holding less in oil or gold mining — the resource sectors that have kept Canadian stock exchanges afloat the past two years. “It’s a social index. It’s weighted differently, as you would expect. Over a shorter period of time you will see things struggle,” said Jantzi. Even with disappointing recent results, Canadians continue to be interested in ESG factors in their investments. Social Investment Organization polling suggest 70 per cent of Canadian investors want more information about socially responsible investing, said Ellmen. With between two and three per cent of Canada’s pool of mutual fund money invested in SRI funds, there’s “huge room for growth,” he said.