Webinar recording on Church investments in major oil companies
Operation Noah hosted a webinar earlier this month to launch our new report, Church investments in major oil companies: Paris compliant or Paris defiant?, and more than 150 people followed it live!
The webinar included a presentation of key findings of the report, as well as inspiring reflections from our guest speakers. The webinar is available to watch again here.
Methodist Church divests from BP and Total, but continues investing in four oil companies
The Central Finance Board of the Methodist Church has announced its divestment from BP and Total, but has continued investing in four oil and gas companies: Shell, Repsol, ENI and Equinor.
While the decision to divest from BP and Total is a welcome step forward, it does not fully implement the motion on divestment passed at Methodist Conference in 2017, which called for divestment by 2020 from any oil company ‘which had not aligned their business investment plans with the Paris Agreement target of a global temperature rise well below 2 degrees’.
Several recent reports, including Carbon Tracker and Transition Pathway Initiative research, as well as our own Bright Now report, have found that no oil and gas companies are aligned with the Paris Agreement. It is now time for the Methodist Church to complete divestment from all oil and gas companies, and we urge the Methodist Conference to support full divestment when it meets at the end of this month.
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The Vatican urges Catholics to divest from fossil fuel companies
The Vatican has issued its first-ever set of comprehensive environmental guidelines. The document, entitled ‘Journeying Towards Care for Our Common Home: Five Years After Laudato Si’,’ suggests concrete ways for the Church to implement Laudato Si’, Pope Francis’ groundbreaking encyclical on the care of our common home.
The guidelines frame investing in fossil fuels as an ethical choice, on a par with other significant ethical choices. The guidelines suggest that Catholic institutions’ ethical commitments should lead to ‘avoiding supporting companies that harm human or social ecology (for example, abortion and weapons) and environmental ecology (for example, fossil fuels)'. This is the first-ever endorsement of the fossil fuel divestment campaign to come from the Vatican as a whole.
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