Vatican Bank and Morningstar introduce two ethical stock indices aligning global investments with Catholic social and moral principles.
Newsroom (11/02/2026 Gaudium Press ) In a move that intertwines faith with finance, the Vatican Bank—formally known as the Institute for the Works of Religion (IOR)—has unveiled two new stock indices in collaboration with financial services giant Morningstar. Introduced on Tuesday, these indices aim to guide investors toward companies that uphold both robust economic performance and the moral principles of the Catholic Church.
The two indices, named “Morningstar IOR Eurozone Catholic Principles” and “Morningstar IOR US Catholic Principles,” include some of the largest and most recognizable corporations across Europe and the United States. In the U.S. index, technology leaders such as Meta (Facebook), Amazon, Tesla, and Apple are featured. In Europe, the list includes Deutsche Telekom, SAP, Allianz, and Banco Santander, alongside the luxury fashion house Hermès and Italian banking group UniCredit—each receiving the Vatican Bank’s ethical endorsement.
Balancing Profitability and Principles
While the initiative is not designed for individual stock picking, these indices will serve as benchmarks for index funds, allowing broader groups of investors to align their portfolios with Catholic values. The Vatican’s central message behind this project is clear: profitability and ethical conduct should coexist harmoniously.
The selection criteria are strictly defined. Only companies adhering to Church principles—respecting life, social responsibility, and environmental stewardship—qualify for inclusion. Businesses engaged in industries conflicting with these values, such as arms manufacturing or pharmaceuticals that violate Church teachings on the sanctity of life, are categorically excluded.
According to the IOR, this framework strengthens the connection between its internal investment policies and Catholic social doctrine. “This step further strengthens the alignment between our investment guidelines and the Church’s principles,” the Vatican Bank said in a statement.
A Symbol of Reform and Transparency
For the Vatican Bank, the launch reflects more than a financial endeavor—it signifies an institutional transformation. Over the past decade, the IOR has sought to rebuild credibility after years of financial scandals and investigations that marred its reputation. With the unveiling of these ethically filtered indices, the bank continues its move toward transparency and compliance with international financial standards.
Giovanni Boscia, head of asset management at the Vatican Bank, stated that the indices are designed to foster consistency and openness. “They help us evaluate investments according to Catholic ethical criteria and present them transparently,” Boscia emphasized.
By translating moral doctrine into measurable investment frameworks, the Vatican Bank’s partnership with Morningstar blends spirituality with sophisticated market analysis. It marks a step toward making the global capital market not just profitable, but purpose-driven—a combination the Vatican hopes investors will increasingly embrace.
- Raju Hasmukh with files from Katholisch.de
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