Movement to divest from
fossil fuels gains momentum
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| NASA's 3D portrait of methane rising from the earth's surface (ANSA) |
Forty-two institutions connected with various religious
denominations announce their decision to divest from investments in the fossil
fuel industry.
By Sr Bernadette Mary Reis, fsp
Institutions hailing from the Catholic, Anglican, Methodist,
United Reformed, Baptist, Quaker and Buddhist traditions announced on Monday
that they will be divesting from fossil fuel investments. These institutions
are present in 14 countries.
The announcement is part of the Bright Now campaign run by
Operation Noah based in London. Operation Noah is an organization that
encourages church collaboration and action regarding the climate crisis.
Operation Noah said in its announcement that “this is the
largest-ever joint announcement of divestment from fossil fuels from faith
institutions”.
Catholic institutions included
Noted among Catholic institutions are the Catholic Diocese
of Arundel & Brighton, the Jesuits community present in Britain and the
Sisters of St Josephs of Peace based in the UK.
The Bishop of Arundel & Brighton is cited in the
announcement saying, “Care for the world that has been given to us is an
increasingly pressing need. It is therefore timely that the Diocese of Arundel
& Brighton divests from fossil fuels. This positive step will contribute to
the common good and, I trust, pave the way for further practical action to
safeguard this and future generations.”
Non-compliance with Parish agreement targets
Operation Noah stated in a report released earlier in May,
“that none of the major oil companies are compliant with the Paris agreement
targets”.
Regarding this non-compliance, the former Archbishop of
Canterbury, the Rt Rev Rowan Williams, is cited as saying, “The current health
crisis has highlighted as never before the need for coherent international
action in the face of global threat. Can we learn the lesson and apply it to
the global threat of climate change? To do so means taking practical and
effective steps to reduce our lethal dependence on fossil fuels.”
Spiral of death
The Director of the Justice, Peace, and Integrity of
Creation Commission for the Catholic Archdiocese of Semarang, in Indonesia,
spelled out the dire threat posed by both Covid-19 and the ecological crisis.
“In this COVID-19 pandemic, it is the exact time not only to
reflect, but to act. We have to stop our ecological spiral of death. We have to
revive our ecological hope, in massive repentance of humankind, by taking the
pathway to more sustainable living.”
Laudato Si’ Week
The announcement also explains that they chose to announce
the initial results of their global divestment initiative as part of Laudato
Si’ Week initiated by Pope Francis. This week will end with the commemoration
of the 5th anniversary of the publication of his encyclical,
with the same name.
Operation Noah says that in April, 21 Catholic groups
managing an estimated $40 billion worth of assets signed the Catholic Impact Investing
Pledge. This pledge is a manifestation of their commitment to invest in
companies that share their ecological values.
Decisions made now for the future
Concluding the announcement, Bright Now Campaign Manager,
James Buchanan, put these present decisions into a forward-looking perspective.
“The decisions we make now will affect the future of
humanity for thousands of years. These faith institutions are showing strong
leadership in response to the climate crisis, and we urge governments around
the world to follow their lead in ending support for fossil fuels and investing
in the clean technologies of the future.”
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