Quantcast

Church of England to Divest From Companies That Neglect Paris Agreement Goals

Business
Canterbury Cathedral is the mother church of the Church of England. Jules & Jenny / CC BY 2.0

The Church of England will divest its $16 billion fund from companies that are not aligning themselves with the goals of the Paris agreement, church officials announced Sunday.


As reported by UPI:

The new policy would assess how well a company is progressing on Paris climate goals by 2023 and disinvest from those falling short. Of the 54 companies it reviewed last year, the church found that 31 percent of them have improved their climate policies.

The decision, passed by a majority of 374 to 4 votes at this weekend's meeting of the church's governing body, demands that the church sell stakes in companies not taking steps towards climate goals by 2023. The church says that it currently has more than $41 million invested in renewable technologies, more than it has invested in "conventional" energy.

In a statement, a spokesperson for the Church said that the decision "will allow us to continue to push for real change in the oil and gas sector and use engagement, our voting rights and rights to file shareholder resolutions to drive the change we want to see ... our active engagement and voting record provide greater leverage and influence than we could ever hope to achieve by acting alone or by forced divestment and simply selling our holdings."

CNBC noted that "in 2015, the church blacklisted investments in coal and tar sands oil."

On its website, the Church of England said, "We believe that responding to climate change is an essential part of our responsibility to safeguard God's creation. Our environmental campaign exists to enable the whole church to address—in faith, practice and mission—the issue of climate change."

For a deeper dive:

Bloomberg, CNBC, UPI

For more climate change and clean energy news, you can follow Climate Nexus on Twitter and Facebook, and sign up for daily Hot News.

EcoWatch Daily Newsletter

Pixabay

By Claire L. Jarvis

A ruckus over biofuels has been brewing in Iowa.

Read More Show Less
Serena and Venus Williams have been known to follow a vegan diet. Edwin Martinez / Flickr / CC BY 2.0

By Whitney E. Akers

  • "The Game Changers" is a new documentary on Netflix that posits a vegan diet can improve athletic performance in professional athletes.

  • Limited studies available show that the type of diet — plant-based or omnivorous — doesn't give you an athletic advantage.

  • We talked to experts about what diet is the best for athletic performance.

Packed with record-setting athletes displaying cut physiques and explosive power, "The Game Changers," a new documentary on Netflix, has a clear message: Vegan is best.

Read More Show Less
Sponsored
An illegally trafficked tiger skull and pelt. Ryan Moehring / USFWS

By John R. Platt

When it comes to solving problems related to wildlife trade, there are an awful lot of "sticky widgets."

Read More Show Less
Pexels

By Franziska Spritzler, RD, CDE

Inflammation can be both good and bad.

On one hand, it helps your body defend itself from infection and injury. On the other hand, chronic inflammation can lead to weight gain and disease.

Read More Show Less
Pexels

By Dan Nosowitz

It's no secret that the past few years have been disastrous for the American farming industry.

Read More Show Less
Sponsored
Pexels

By Gavin Van De Walle, MS, RD

Medium-chain triglyceride (MCT) oil and coconut oil are fats that have risen in popularity alongside the ketogenic, or keto, diet.

Read More Show Less
Pexels

By Bijal Trivedi

The Centers for Disease Control and Prevention (CDC) released a report on Nov. 13 that describes a list of microorganisms that have become resistant to antibiotics and pose a serious threat to public health. Each year these so-called superbugs cause more than 2.8 million infections in the U.S. and kill more than 35,000 people.

Read More Show Less
Rool Paap / Flickr / CC BY 2.0

By Franziska Spritzler, RD, CDE

Inflammation can be good or bad depending on the situation.

Read More Show Less