(FOX BUSINESS) – The Catholic Church has announced long-term reforms of its investments in order to ensure its portfolio reflects the church's values and moral beliefs.
Only the latest in Pope Francis' overhaul of the institution's finances, the new regulations would severely crack down on revenue streams from industries and holdings deemed unethical.
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The Holy See will no longer allow church funds to be invested in industries such as defense or weapons development. The church will also revise its portfolios to ensure no funds are connected to embryonic stem cell research or other medical technologies that violate its views on pro-life ethics.