A report coming in is that today 36 institutions in 11 countries have announced their divestments from fossil fuel companies.
These include the Anglican, Roman Catholic, Methodist, Presbyterian, and Baptist as well as the Church in Wales, which according to Church Times “has assets worth more than £700 million under management, and the dioceses of Oxford and Bristol”.
The Church Times has said that disinvesting funds from socially unacceptable activities has long been a way for institutions to show where they stand on issues of injustice or importance.
“Whether it is big tobacco, weapons manufacturers, or fossil-fuel companies, faith institutions carry a particular moral power: by withdrawal they can strip such companies of the social license, public influence, and political power that their investment had lent them,” says the report.
