London CNN —The Church of England has welcomed a report that calls for it to spearhead the establishment of a £1 billion ($1.3 billion) fund to address its historical ties to slavery.
The Church Commissioners group, which manages the church’s £10.3 billion ($13 billion) investments, has accepted the report “in full,” the church said in a statement.
The report also calls for the Church Commissioners to build up the value of the fund by bringing in co-investors while also increasing its own allocation.
The Church of England is the established church in the United Kingdom.
It also urged the Church Commissioners to deliver the full sum committed to the fund sooner than over the nine years originally envisaged.
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