Tag Archive for fossil fuel divestment

Catholic Fossil Fuels Divestment Commitment

The Global Catholic Climate Movement encourages all types of Catholic organizations to divest from fossil fuel companies as part of their ethical investment commitments, to respond to the Pope’s Laudato Si’ encyclical and the COP21 statement of Catholic Bishops from all continents. This is an invitation to join the larger Divest-Invest group of nearly 700 institutions who control over $5 trillion in assets and have committed to divest (for more info: http://catholicclimatemovement.global/divest-and-reinvest/).

This commitment can be signed both by Catholic institutions who already avoid investing in fossil fuel corporations and by Catholic institutions deciding to remove their funds from fossil fuel companies.

Australian Jesuits divest from fossil fuels, support Flights for Forests for World Environment Day 2017

2017_05_31_Editorial_Photo1I have in the Province Office a few dot paintings.  One of them is by an Aboriginal artist who was instrumental in bringing the Walmajarri people back to their ancestral land I 1979, after a cattle station was established on it in the early twentieth century.

Italian Jesuits join largest Catholic divestment from fossil fuels

2017_05_15_Editorial_Photo1Ecojesuit shares this recent press release on the largest joint action of Catholic groups so far to divest from coal, oil, and gas investments, of which the Italian Jesuits was part.  Gianfranco Matarazzo, SJ, Provincial Father of the Italian Jesuits said: “I express the adhesion of the Italian province of the Society of Jesus to the divestment campaign.  With this adhesion, I announce the intention to start a more detailed process about the different ways of removing our investments from fossil, progressively within the next 5 years.”

Nine Catholic organizations from around the world announced on 10 May 2017 their decision to divest their portfolios from coal, oil and gas companies in the largest joint Catholic fossil fuel divestment to date.

Fossil fuel divestment economics in line with morality

43755The Norwegian Parliament has just ordered its $A1.15 trillion Sovereign Wealth Fund to divest from coal. This represents the largest single divestment from fossil fuels in human history, and our biggest sign yet that the age of coal is over and the financial case for investing in fossil fuels is likely to disintegrate.

Georgetown University Votes To Divest From Coal

8533016406_53f933f135_zGeorgetown University’s board of directors voted to divest the school’s endowment from coal companies Thursday, a move that fell short of students’ hopes for divestment from all fossil fuel companies.

Students staged a sit-in on campus in the lead-up to the board meeting to press the school’s board of directors to vote in favor of divesting from fossil fuels. They were disappointed by the board’s final decision — coal makes up only a small portion of the board’s total investments, they said, and as a Jesuit institution, Georgetown has a moral obligation to divest from fossil fuels.

Divestment: An economic solution to a social problem

WarmingRecently there has been a nationwide conversation about fossil fuel divestment. Divestment is when investors withdraw investments in certain companies for political or ethical reasons. In this case, some institutions are divesting from fossil fuel companies because they feel that these companies are acting unethically in their contributions to carbon emissions, which in turn contributes to climate change.

This campaign for fossil fuel divestment has been led by 350.org, an organization dedicated to “building a global grassroots movement to solve the climate crisis.” So far, several religious institutions, 18 cities and two countries have made commitments to divest, but the real pressure of the campaign has been on colleges and universities.