Faith Institutions Announce Divestment from Fossil Fuel Companies
Over 30 Faith Institutions Announce a Multi-millionaire Divestment from Fossil Fuel Companies
Catholic organizations have divested more than $500 million in combined assets
"We ask that the energy production industry respect both human rights and care for the planet." Sr. Sheila Kinsey
In total, thirty five faith institutions from six countries with more than $1.25 billion in combined assets announced today their divestment from fossil fuel companies.
Participating institutions include some Catholic organizations, such as five dioceses in Ireland, including the Archdiocese of Armagh, and two in Canada. Catholic institutions’ divestment amounts to over $500 million. This announcement has been organized by the Laudato Si’ Movement, World Council of Churches, Operation Noah, Green Anglicans and GreenFaith among others organisations.
Read the Press release from the Laudato Si Movement
UISG is fully committed in this field through the Campaign "Sowing Hope for the Planet".
Sr. Sheila Kinsey, FCJM, International Coordinator of the Campaign, said:
"The JPIC Commission of the UISG-USG was one of the sponsors of the session Faith-Consistent Investing-Living Laudato Si' during Laudato Si' Week. Many of our religious congregations are calling for divestment in fossil fuel.
This calls attention to the serious harm that has been caused by fossil fuel extraction and energy production which has damaged the composition of our planet's atmosphere.
Through Sowing Hope for the Planet, we are encouraging congregations to consider divestment from fossil fuels and conservation of energy resources as well as supporting investment in alternative energy research, development, and production.
Additionally, we ask that the energy production industry respect both human rights and care for the planet."
Fr. Joshtrom Kureethadam, Coordinator of the Ecology Sector in the Vatican Dicastery for Integral Human Development that assists Pope Francis's work on the environment, stated on the matter:
"In 2020, the Vatican called on Catholic institutions to divest from fossil fuel companies given their harm to the environment. I applaud these prophetic institutions divesting today and encourage every institution in the world to reduce our dependence on such harmful energy sources by divesting from fossil fuels. This is how prophetic institutions can live out our values and help the most vulnerable among us. If we want to achieve peace, and ensure a livable planet for all, including the future generations, we need to end our dependence on fossil fuels that fuel the current climate crisis."
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