40 Catholic groups to stop investing in coal and oil

A coalition of 40 Roman Catholic organizations said on Tuesday they would no longer invest in fossil fuels.

The group includes the Sacred Convent of Assisi in Italy, the Sisters of the Schools of Our Lady and the Episcopal Conference of Belgium.

“The decision of Catholic institutions to withdraw their support for fossil fuels is based both on their shared value of protecting the environment and on the financial wisdom of preparing for a carbon neutral economy,” said the World Catholic Movement for the climate, which coordinated the effort, in a statement. declaration.

Cecilia Dall’Oglio, the group’s European programs coordinator, said the total number of Catholic organizations pledged to abandon investments in fossil fuels has now exceeded 60. Early members of the group include the United States-based Franciscans of Wheaton. United and the Italian Jesuits.

Dall’Oglio said the organizations were pulling out of the 200 largest state-owned coal, oil and gas companies, a list that includes PA (PA), Chevron (CVX) and Exxon (XOM). She said they were responding to Pope Francis’ call to action on climate change.

Francis, who leads the 1.2 billion Catholics in the world, said in a historical encyclical in 2015 that there is “a clear, definitive and ineluctable ethical imperative to act on climate change”.

“The Earth, our home, is starting to look more and more like a huge pile of garbage,” he said. “In many parts of the world, older people are complaining that once beautiful landscapes are now covered in garbage.”

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The announcement of the divestment was timed to coincide with the feast of Saint Francis of Assisi, celebrated on Wednesday.

Father Enzo Fortunato, director of the press office of the Sacred Convent of Assisi, said divesting from fossil sources is a way to put the Pope’s message in motion. François d’Assise is associated with environmental causes.

“Pope Francis affirms that Saint Francis is a fine example which motivates respect for planet Earth”, he declared.

– Valentina Di Donato contributed reporting.

CNNMoney (London) First published on October 3, 2017: 11:41 a.m. ET