Church Commissioners for England, London, is setting up an impact fund and committing £100 million ($121 million) program to combat the effects of slavery, a spokesman for the endowment confirmed.
To be delivered over the next nine years, the new investment, research and engagement program will focus on rectifying the impact of investments made by its predecessor fund. The investments had historic links to slavery.
The impact fund will fund projects focused on improving opportunities for communities adversely affected by historic slavery.
In response to the findings made in June 2022, the Church Commissioners' board committed to addressing past decisions.
David Walker, deputy chairman of the Church Commissioners, said in a news release: "Discovering that the Church Commissioners' predecessor fund had links to transatlantic chattel slavery is shaming, and we are deeply sorry."
"We will seek to address past wrongs by investing in a better future, which we plan to do with the response plan announced today, including the £100 million funding commitment we are making. We hope this will create a lasting positive legacy, serving and enabling communities impacted by slavery," Mr. Walker added.
The endowment has £10 billion in assets.