World Council of Churches drops fossil fuels
Council representing half a billion Christians says it will stop investing in fossil fuels
The move by the World Council of Churches, which has 345 member churches including the Church of England, came last week and was welcomed as a "major victory" by climate campaigners.
Bill McKibben, the founder of climate campaign group 350.org, said in a statement: "The World Council of Churches reminds us that morality demands thinking as much about the future as about ourselves – and that there's no threat to the future greater than the unchecked burning of fossil fuels. This is a remarkable moment for the 590 million Christians in its member denominations: a huge percentage of humanity says today 'this far and no further'."
The decision only applies to the council's own investments, rather than its members, such as the Church of England. The Church of England said it could not yet comment on what the decision meant for its own investments. The CoE has not moved yet to divest from fossil fuel companies but has set up a subgroup to take advice on climate change and investment.
“There was an explicit wish at the Finance Committee to include fossil fuels as one of the sectors where the WCC will not invest in, based on decisions to divest from fossil fuels taken by member churches in different parts of the world,” said Guillermo Kerber, who coordinates the WCC’s work on care for creation and climate justice. “The general ethical guidelines for investment already included the concern for a sustainable environment, for future generations and CO2 footprint. Adding fossil fuels to the list of sectors where the WCC does not invest in serves to strengthen the governing body’s commitment on climate change as expressed in various sessions of the Central Committee.”
Studies have suggested the fossil fuel divestment campaign, which began in the US, has been faster than than any previous divestment movement such as tobacco and apartheid.
In an article for the Guardian in April, Archbishop Desmond Tutu said that "people of conscience need to break their ties with corporations financing the injustice of climate change" and events sponsored by fossil fuel companies could even be boycotted.
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