Quantcast
Environmental News for a Healthier Planet and Life

Help Support EcoWatch

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

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

54% of parents with school-age children expressed concern that their children could fall behind academically, according to a poll conducted over the summer of 2020. Maria Symchych-Navrotska / Getty Images

By Pamela Davis-Kean

With in-person instruction becoming the exception rather than the norm, 54% of parents with school-age children expressed concern that their children could fall behind academically, according to a poll conducted over the summer of 2020. Initial projections from the Northwest Evaluation Association, which conducts research and creates commonly used standardized tests, suggest that these fears are well-grounded, especially for children from low-income families.

Read More Show Less

EcoWatch Daily Newsletter

A teenager reads a school English assignment at home after her school shut down because of the COVID-19 pandemic on March 22, 2020 in Brooklyn, New York. Andrew Lichtenstein / Corbis via Getty Images

The pandemic has affected everyone, but mental health experts warn that youth and teens are suffering disproportionately and that depression and suicide rates are increasing.

Read More Show Less

Trending

In an ad released by Republican Voters Against Trump, former coronavirus task force member Olivia Troye roasted the president for his response. Republican Voters Against Trump / YouTube

Yet another former Trump administration staffer has come out with an endorsement for former Vice President Joe Biden, this time in response to President Donald Trump's handling of the coronavirus pandemic.

Read More Show Less
Climate Group

Every September for the past 11 years, non-profit the Climate Group has hosted Climate Week NYC, a chance for business, government, activist and community leaders to come together and discuss solutions to the climate crisis.

Read More Show Less
A field of sunflowers near the Mehrum coal-fired power station, wind turbines and high-voltage lines in the Peine district of Germany on Aug. 3, 2020. Julian Stratenschulte / picture alliance via Getty Images

By Elliot Douglas

The coronavirus pandemic has altered economic priorities for governments around the world. But as wildfires tear up the west coast of the United States and Europe reels after one of its hottest summers on record, tackling climate change remains at the forefront of economic policy.

Read More Show Less

Support Ecowatch