Bishop Gerry and grassroots champions outside Crédit Agricole (photo: Corinne Simon)
Bishop Gerry Alminaza, Chair of the Laudato Si’ Program of the Catholic Bishops’ Conference of the Philippines, has just wrapped up a visit to Europe. His visit encouraged global North banks to stop financing fossil fuel infrastructure in the global South.
Bishop Gerry has led efforts to stop the construction of new fossil fuel infrastructure threatening the Verde Island Passage, a place of incredible beauty and biodiversity in the Philippines, on which fisherfolk and farmers depend for their livelihoods. His efforts align with strong leadership by the Catholic Bishops’ Conference of the Philippines, which has divested from fossil fuels, committed to dropping banks that fund fossil fuels, and called on all Filipino Catholic institutions to refuse donations that are based on extractive industries.
European banks such as HSBC, Standard Chartered, BNP Paribas, and Credit Agricole fund this or other fossil fuel projects in the global South. These projects harm those who breathe the air, drink the water, and eat the food in the communities where they are located. They also drive the climate crisis that harms everyone.
Caption: Bp. Gerry’s message to the UK National Justice & Peace Network
The fossil fuel industry depends on loans and other investments to keep expanding fossil fuel production and building new pipelines and refineries. While the financial industry makes millions on these investments, people around the world suffer the consequences. According to the World Health Organization, climate change is expected to cause an additional 250,000 deaths per year in the coming decades.
In addition to the high human cost, banks are well aware that there is a risk that these projects will become “stranded assets” that lose their value as the world makes the inevitable transition to renewable energy–which is endlessly available at low cost.
Outside the HSBC annual general meeting (photo: David Britton – Operation Noah)
Bishop Gerry visited banks’ annual general meetings to speak up for the Philippines and for all who suffer from short-sighted, immoral investments in continued fossil fuel exploration and expansion.
Inside the meetings, Bishop Gerry, Avril De Torres of the Center for Energy, Ecology, and Development of the Philippines, and Jesuits in Britain challenged HSBC, Standard Chartered, BNP Paribas, and Crédit Agricole leaders over their continued financing of fossil fuel projects.
Outside the meetings, grassroots protests calling for an end to the fossil fuel era were held at HSBC, Standard Chartered, BNP Paribas, and Crédit Agricole. Laudato Si’ Animators and grassroots partners including Lutte et Contemplation stood alongside Bishop Gerry and other leaders.
Bishop Gerry and grassroots leaders outside Notre Dame Cathedral (photo: Inès Alberico)
Catholics bring a special strength to our efforts to stop the climate crisis: our faith.
Bishop Gerry concelebrated a Mass at Notre Dame Cathedral alongside the Archbishop of Paris and the President of the French Catholic Bishops’ Conference. A vigil in Paris drew more than 40 young adults.
These moments of deep reflection and connection are essential as we walk the long road to climate justice. Bishop Gerry’s trip to Europe is the fruit of incredible partnerships, including with CEED Philippines, Urgewald, Reclaim Finance, JustMoney Movement, Operation Noah, CAFOD, the Jesuits in Britain and France, the National Justice & Peace Network, Lutte et Contemplation, Eglise Verte, diocesan delegates for Integral Ecology, the Spiritans and Sœurs Auxiliatrices.