Divestment will take place in two phases. By the end of 2020, the school commits to a 50 percent reduction in “exposure to companies owning fossil fuel reserves in the marketable portion of the endowment portfolio.” Then, by June 20, 2023, school commits to full divestment of “the marketable portion of the endowment from any investments in companies owning fossil fuel reserves.”
Archive for g. Clean energy
Catholic leaders, at an event co-hosted by the University of San Francisco and the Global Catholic Climate Movement, joined people from around the world for a three-day Global Climate Action Summit in San Francisco from Sept. 12-14. The summit coincided with the Season of Creation, a month-long campaign from September 1 through the feast of St. Francis of Assisi on Oct. 4. The campaign calls on Christians from around the world to care for creation by uniting in prayerful reflection and action.
Catholic institutions from around the world are making new commitments to divest from fossil fuels. A group of 19 institutions, led by Caritas India and the Irish Catholic Bishops’ Conference, announces its divestment today. The full list of divesting institutions is available here.
Twenty-first century human beings are needy creatures. Extending beyond the bare necessities of food, water, clean air, and shelter, our needs and wants require vast amounts of mineral resources and energy. A critical concern is the relationship between the spiritual life and energy consumption. This reflection has been prompted in part by the Affordable Energy Proposal released by the EPA last week to replace the Obama administration’s Clean Power Act. Ostensibly, both documents aim to address climate change by mandating electrical utilities to reduce the emissions of climate change-inducing carbon and fine particulates, which have been connected to respiratory problems like asthma.
Jesuit Conference office of Justice and Ecology issues Statement on EPA affordable Clean Energy Rule
The Clean Power Plan was enacted in 2015. On March 28, 2017, President Trump signed an executive order mandating EPA review of the rule. In October of 2017, the EPA announced plans to end the CPP. Catholic leaders and laity across the U.S., responding to Pope Francis’ call in Laudato Si’ to care for creation and those most affected by climate change, have spoken out in support of fully implementing and maintaining the CPP to significantly reduce climate-changing greenhouse gas pollution.
Today, the Trump Administration issued the “Affordable Clean Energy” rule, replacing the national standard for the electricity sector under the Obama Administration with a weakened version. The new rule focuses on reducing emissions from the electricity sector by allowing states to decide if or by how much to reduce greenhouse gas emissions.