On 10th May, nine Catholic organisations joined the fight for climate justice by committing to divest from fossil fuels. This brings to twenty seven Catholic organisations in total which have divested from fossil fuels over the past two years. Divestment works because is a public commitment to remove the legitimacy of the fossil fuel industry – the industry which contributes most to climate change. The industry is also known to have undermined climate science over the past decades, seeding doubt and delaying action. The most recent organisations to divest include the Jesuits in Italy, the Passionists in the UK and Pescara Diocese in Italy. Many more organisations in Ireland and internationally are currently considering the ethical criteria governing their investment strategies with a view to divesting.
They join over 530 institutions globally, representing over $3.4 trillion in funds under management, have committed to divest. They include institutions such as the World Council of Churches, the Lutheran World Federation, the Norwegian Sovereign Wealth Fund, the Rockefeller Brothers Fund, and many academic institutions such as Stanford University and Oxford University.
For more details on how to participate in the next global divestment announcement on 4th October 2017 please contact Lorna Gold in Trócaire [email protected] and check out the Global Catholic Climate Movement divestment page for the full list of organisations.