The Institute for the Works of Religion (Institutum pro Operibus Religionis, or IOR), colloquially known as the Vatican bank, published its first sustainability report yesterday.
“In 2024, the Institute continued to focus its activities on optimizing returns in full compliance with Catholic ethical principles, excluding any investment in companies involved in activities harmful to human life, the environment, or society,” the Institute stated, adding:
With net profit amounting to €31 million [$36.1M], the IOR generated a total economic value of €50 million [$58.3M], distributed among the Holy Father (27%), employees (30%), and suppliers (18%), retaining the remainder to ensure long-term sustainability.
Through the management of its clients’ assets, the Institute also created €157 million [$183M] in value, thereby reinforcing its dual social and financial vocation: supporting the Universal Church and increasing the value of entrusted assets.