Catholic institutions are among the global leaders in divestment from fossil fuels. Starting with a sound moral argument for divestment and combining it with financial wisdom, Catholics are making groundbreaking joint announcements of divestment from dirty energy.
On September 12, 15 Catholic institutions including the Catholic Bishops’ Conference of the Philippines and Caritas agencies in Italy, Singapore, Australia, and Norway announced their divestment. At the same time, the global divestment movement reached a new milestone of $11 trillion in the value of divesting institutions, with Catholics making up the largest group of 150+ in the global total of 1,100+ institutions. For more information, see this story in the National Catholic Reporter.
In May 2019, a coalition of maritime Catholic institutions announced their divestment from fossil fuels and called for commitment to slash fossil fuel emissions from the UN’s shipping agency. The institutions included the Archdiocese of Panama, home to the Panama Canal, Caritas Philippines, home to approximately 25% of the world’s seafarers, and others. See press release here.
On September 2018, 19 Catholic institutions including Caritas India and the Irish Catholic Bishops’ Conference announced their commitment to divest from fossil fuels at the Global Climate Action Summit alongside the total divestment commitments of 900+ institutions. Read the press release and watch the video here. (September 10, 2018)
On Earth Day, April 22, Caritas Internationalis, Catholic banks with total balance sheets of approximately €7.5 billion, archdioceses, and a coalition of dozens of Catholic institutions announced their divestment. This group of 35 represents religious orders, lay movements, and Catholic justice organizations from around the world. Read more in the press release.
On October 4, 2017 a group of 40 Catholic institutions committed to caring for our common home by announcing their divestment from fossil fuels. This is the largest joint Catholic announcement to date.
This group included the first-ever divestment of a Catholic bishops’ conference and one of the first divestments of a Catholic bank. In addition, the group counted several highly significant institutions in Assisi, the home of St. Francis. It also included archdioceses and dioceses, religious orders, and lay organizations, and was complemented by important municipal partners.
Read more about this ground-breaking commitment in the press release.
Nine Catholic institutions announced their divestment from fossil fuels. The groups — including religious orders and dioceses from the UK, USA and Italy — made the announcement ahead of international negotiations this month on implementing measures in the Paris Agreement on climate change. Read more, and see in this blog post.
Seven Catholic organizations announced their commitment to divest from fossil fuels on the Feast of St. Francis 2016. These included the following:
- a major healthcare network that has 24 hospitals, 300 doctors’ offices, and 40,000 employees (SSM Health),
- a diocese (the diocese of Umuarama, Brazil), and
- one of Italy’s largest nonprofit networks, with 82 member organizations (FOCSIV).
Read more in the press release.