The Church of England has vowed to vote against outsized bonuses and short-term incentives as it tries to revive the spirit of last year’s shareholder spring at upcoming annual meetings.
In a report which references biblical figures from Jesus to Job, the Church’s Ethical Investment Advisory Group has instructed the managers of its approximately £3bn of equities to reject bonuses that are more than 100 per cent of salaries.
Well, it doesn't come in the category of divine revelation, or even small miracles. And why 100% is OK remains a mystery of faith, I guess.
But let's just think it's a step in the right direction.