The Church of England announced last week that it would reconsider its financial investments in light of the impact they are having on global climate change, according to an official Church statement that was reported in a Climate Progress article. The Church manages around £5.2 billion, or $8.5 billion in investments, including investments in fossil fuel companies like BP and Royal Dutch Shell, according to a BBC article.
The Church’s statement describes the need to ensure that the Church’s investment policies are “aligned with the theological, moral and social priorities” of the Church. The Church is open to divestment from fossil fuel companies, but representatives say the organization prefers to work with companies to improve their emissions profiles, which is a technique the Church has had success with in the past.
Ari Phillips, Reporter at Climate Progress
On Wednesday, the Church of England’s parliamentary body announced that it was considering redirecting its investments in an effort to battle climate change. The motion put forward, which called for the Church to recognize “the damage being done to the planet through the burning of fossil fuels,” received overwhelming support.
“Climate change is a moral issue because the rich world has disproportionately contributed to it and the poor world is disproportionately suffering,” Canon Goddard said.
According to the Church of England’s official statement, the passing of the motion makes clear that the Church’s investment policies are “aligned with the theological, moral and social priorities” of the Church on climate change.