FCI FRAMEWORK
A guide to the core elements of an effective FCI policy and a model for good practice
We believe our FCI Assessment Framework, which we developed as part of our Good Intentions 2026 research, is a game-changer for faith-consistent investors. It provides a clear framework for faith-based asset owners to use as they review their own policies. And to help them further, we have developed a suite of model templates and best practice language for each of the 10 criteria.
How the FCI Framework is structured
Our FCI Framework measures how effectively faith commitments are translated into clear and operational investment guidance. The 10 criteria cover both policy content and governance structures supporting implementation, including faith documentation, ethical exclusions, positive investment, governance arrangements, professional oversight, monitoring processes, and mechanisms for policy development.
What each of the 10 criteria sets out to do
Below you will find each of the 10 criteria, with a formal definition of what it measures, taken from our Good Intentions 2026 study, and a comment from the deep dives we held into the Good Intentions research, plus a link to a best practice template for each one.
Criterion 01:
Faith foundation documentation
The extent to which the organisation clearly states how its faith tradition and teachings inform its investment approach.
"Criterion 1 asks the simple question: Does your investment policy actually explain that you are a faith organisation and what that means for how you invest?"
Criterion 04:
Investment vehicle
selection
The extent to which selected investment vehicles are capable of implementing the organisation’s stated faith commitments.
"Can the investment funds and managers you are using deliver on your commitments? Because if not, your policy may just be aspirational rather than operational."
Criterion 07:
Education & expertise requirements
The extent to which those responsible for investment decisions are equipped to understand and apply faith-consistent investing.
"This asks what are the people responsible for investment decisions actually have the knowledge they need to make faith-consistent investing decisions.
Criterion 10:
Continuous improvement framework
The extent to which faith-consistent investing is treated as an evolving
practice that is reviewed, strengthened, and refined over time.
"This is about whether the policy itself is treated as a living document. And what we found is that most policies in our sample were written once and then they're filed away."
Criterion 02:
Ethical exclusions &
negative screening
The extent to which faith-based exclusions are defined clearly and
applied consistently within investment policy.
"Criterion 2 asks: What does your policy say you will not invest in and why? This is the basic form of faith-consistent investing."
Criterion 05:
Governance &
decision-making
The extent to which governance structures ensure that faith values are considered alongside fiduciary responsibility in investment decisions.
"When the people responsible for your assets within your organisation sit down to make investment decisions, is faith part of the conversation?"
Criterion 08:
Professional
guidance
The extent to which external advisers and managers are explicitly
expected to integrate faith considerations into their professional role.
"This asks: If your organisation hires an advisor or a fund manager, how do you make sure that they understand what your faith commitments actually mean in practice? "
Criterion 03:
Positive screening & affirmative investment
The extent to which the policy articulates what the organisation
seeks to support through investment, not only what it avoids.
"What does your investment policy say you actively want to support, not just what to avoid, but what should your capital be directed towards?"
Criterion 06:
Stakeholder communications & accountability
The extent to which the organisation communicats transparently about faith-aligned investment practice and accountability to stakeholders.
"This asks whether your community, your congregation, your members, the people that you serve, know how you invest and why."
Criterion 09:
Regular review &
monitoring
The extent to which faith alignment is reviewed and monitored over
time, alongside financial performance.
"This is the strongest scoring criterion across the whole study. Faith organisations are disciplined about financial monitoring. But the values check is a different story."