With the encouragement of Pope Francis was founded the Committee Quadragesimo anno, a non-profit organisation, which will soon be transformed into a Foundation. Thanks to the contribution of academics and experts from various disciplines and professionals from all over the world, the Foundation will contribute to the elaboration of operational paths to “eliminate the structural causes of the dysfunction of the world economy” and to “aim to change the rules of the economic-social system“, rethinking the development models according to the teachings of the Social Doctrine of the Church and the Magisterium of Pope Francis. The main purpose of the Foundation, as summarized by Cardinal Secretary Pietro Parolin in a letter dated 5 November 2017, is to “try to translate the contents of the Social Doctrine of the Church into concrete indications for the world of finance”.
The Honorary President of the committee and of the future Foundation is Cardinal Antonio Maria Vegliò, Apostolic Nuncio and President of the Pontifical Council for Migrants.
The Quadragesimo Anno Foundation was created to promote the development of an economic and financial ecosystem CSD Compliant:
- To support companies to operate with social and environmental targets, that go beyond current SRI and ESG models and current capitalist business models. The final purpose is creating value for all social stakeholders.
- The Foundation helping the financial system overcome the logic of the Ponzi Scheme, where the latter have more risks and fewer gains than the former.
- The Foundation seek to give all the social stakeholders the same chances of success and facilitate the “social elevator”.
- The Foundation establish a new reference taxonometry for measuring the impact of social and environmental impact by establishing a list of certified companies.
- The Foundation define the new CSD Compliant: they are an absolute and globally valid reference model.
- The Foundation create a new consulting network to help companies to become CSD compliant by implementing their organizational and business models.
- The Foundation is a reference point for banks, asset management and companies.
- The Foundation issue a rating to any company or product the CSD compliant
- The Foundation study special projects and CSD Compliant financial products to be marketed primarily through partners, participants and supporters.
- The Foundation draw up the CSD Compliant Index.
- The Foundation promote the CSD Compliant culture through training and dissemination activities.
The Foundation works thanks to a Committee of founding members that outlines the guidelines that will be developed by the Executive Committee. These guidelines will be transformed into protocols, parameters and indicators SRI, ESG and CSR, for Banks, Asset managers and companies that intend to build a business model CSD Compliant. The guidelines are also direct to Environmental associations and non-profit world, religious world, political world and associations non-parties interested in regulatory changes for the affirmation of the values CSD Compliant.
The Quadragesimo Anno Foundation is acting on the request of companies that would like to have a CSD rating. The foundation supply this service through approved companies: they support the companies and financial markets to structure themselves according to the CSD criteria. With the Partners are set up specific task forces dedicated to CSD analyses and evaluations, which are specialized in the various sectors: rating, creation of new financial products, business consultancy.
Lastly, the Foundation promotes coordination with Catholic Universities and public universities to include specific courses in the organization of studies, aimed at future managers. Furthermore the Foundation shall promote scholarships and offers students the possibility of internships in the Foundation and in partner companies; promotes and participates in conferences and seminars, developing the link with the non-profit world, the religious system, industrial and financial associations.