On Tuesday, five days before the United Nations 26th Climate Change Conference in Glasgow, faith institutions around the world united for the largest-ever joint divestment announcement.
In total, 72 faith institutions from six continents with more than $4.2 billion of combined assets under management announced their commitment to divest from fossil fuels.
The institutions’ prophetic actions follow the recent call from Pope Francis and other faith leaders to global governments to address the “unprecedented ecological crisis” ahead of COP26.
Tuesday’s announcement shows that an increasing number of Catholic institutions are responding to the recent Vatican recommendation to divest from fossil fuel companies and invest in climate solutions.
Tomás Insua, Laudato Si’ Movement Executive Director, said: “People of faith are divesting at scale from dirty coal, oil, and gas, demanding the G20 in Rome to finally conclude that there is no future for fossil fuel finance. As Pope Francis said, ‘enough of the thirst for profit that drives the fossil fuel industry’s destruction of our common home.’”
The announcement comes from faith institutions in Australia, Ireland, Italy, Kenya, Nepal, Peru, Ukraine, the United Kingdom, the United States, and Zambia.
Participating institutions include the Catholic Bishops’ Conference of Scotland; the Central Finance Board of the Methodist Church in the UK; the Presbyterian Church of Wales; the Presbyterian Church in Ireland; Catholic universities in the United States and the UK; the Sisters of Charity of Australia; Caritas Nepal; 15 Catholic dioceses in England, Scotland and Ireland; two Church of England dioceses; 19 churches in the Greek Catholic Church in Ukraine; and the Buddhist religious movement Soka Gakkai International – UK.
A full list of the 72 institutions divesting from fossil fuels can be found here.
Ready for your institution to join them? Hear from the institutions that divested and how they did it during a special COP26-themed conversation on Thursday.
COP26, Fossil Fuel Divestment and a Just Transition for All
Note: The conversation will be in English with live translations in Spanish, Portuguese, Italian, and French.
During this special webinar, Bishop Bill Nolan, the Lead Bishop on the Environment for the Catholic Bishops’ Conference of Scotland, will share why “speaking out is not enough, action is required,” and how “the status quo is not acceptable.” Join the conversation.
He and other faith leaders will also explain how the path to climate justice demands that we divest and “move away from fossil fuels.”