The Vatican has centralized and overhauled its investment strategy after a botched deal lost tens of millions of euros, imposing a policy that prohibits investments in products such as pornography and weapons and prioritizes prudent investing in industries that promote the common good.
The new policy announced Tuesday by the Secretariat for the Economy bans speculative investments, short selling and investing in highly leveraged or complex financial products or in countries vulnerable to money laundering and terrorist financing.
