The Church of England has announced a £100 million fund to address its historical links to the transatlantic slave trade, but the move has faced criticism from some activists who argue it falls short of full reparations. The fund, set up by the Church Commissioners, aims to support community projects over nine years, focusing on improving opportunities for communities adversely impacted by historic slavery.
A report tracing the origins of the Church Commissioners' endowment fund partly to Queen Anne's Bounty, a financial scheme established in 1704 based on chattel slavery, was published on Tuesday. The report reveals that Queen Anne's Bounty invested in the South Sea Company, which traded in enslaved people, and received benefactions from individuals like Edward Colston, a prominent slave trader.
Archbishop of Canterbury Justin Welby expressed deep sorrow over the links, stating, 'It is now time to take action to address our shameful past.' The church is not using the term 'reparations' as the scheme will not compensate individuals directly but will instead fund projects overseen by an oversight group with significant membership from impacted communities.
Bishop of Manchester David Walker acknowledged the timing of the investment amid financial challenges for many people and churches, but emphasised the need to address past wrongs. The full report follows a four-page interim report released last June, and ledgers showing bounty investments are being made public for the first time in an exhibition at Lambeth Palace library.
