Catholic Church to Make Record Divestment from Fossil Fuels
by Arthur Neslen (The Guardian) More than 40 Catholic institutions will make largest ever faith-based divestment, on the anniversary of the death of St Francis of Assisi — The sum involved has not been disclosed but the volume of divesting groups is four times higher than a previous church record, and adds to a global divestment movement, led by investors worth $5.5tn.
Christiana Figueres, the former UN climate chief who helped negotiate the Paris climate agreement, hailed Tuesday’s move as “a further sign we are on the way to achieving our collective mission”.
She said: “I hope we will see more leaders like these 40 Catholic institutions commit, because while this decision makes smart financial sense, acting collectively to deliver a better future for everybody is also our moral imperative.”
Church institutions joining the action include the Archdiocese of Cape Town, the Episcopal Conference of Belgium and the diocese of Assisi-Nocera Umbra-Gualdo Tadino, the spiritual home of the world’s Franciscan brothers.
A spokesman for the €4.5bn German Church bank and Catholic relief organisation Caritas said that it was committing to divest from coal, tar sands and shale oil. READ MORE