Pope Francis calls for financial systems that care for creation in May prayer intention

May 10, 2021

In his May prayer intention, Pope Francis calls on all of us to pray for and to create a world of finance that “be a form of service, and an instrument to serve the people, and to care for our common home!”

Institutions can start today by committing to divest from fossil fuels.

Already, nearly 200 Catholic institutions have decided to act out their values by committing to divest from fossil fuels. By doing so, they’re following Pope Francis’ prophetic guidance and the Vatican’s historic environmental guidelines.

Join the nearly 200 Catholic institutions and help create a better tomorrow

In October, His Holiness urged the world to undergo an energy transition. Organizations can lead such a transition by divesting from “those companies that do not meet the parameters of integral ecology.”

Last year, the Vatican published its first environmental guidelines. The guidelines suggest that Catholic institutions should take care “not to support companies that harm human or social ecology (for example, through abortion or the arms trade), or environmental ecology (for example, through the use of fossil fuels).”

In his prayer intention, Pope Francis warned that the global financial system “is unsustainable. And it is dangerous.”

“So that the poor do not suffer painful consequences from this system, financial speculation must be carefully regulated.”

He also shared that it’s not too late to urgently reform our ways. 

“We still have time to begin a process of global change to practice a different kind of economy, one that is more just, more inclusive and sustainable —and leaves no one behind.

“We can do this! And let us pray that those in charge of finance will work with governments to regulate financial markets and protect citizens from its dangers.”

Full text of the Pope’s prayer

The true economy, the one that creates work, is in crisis. How many people are now unemployed! — But the financial markets have never been as inflated as they are now.

How far away is the world of high finance from the lives of ordinary people!

If finance is unregulated, it becomes pure speculation driven by various monetary policies.

This situation is unsustainable. And it is dangerous.

So that the poor do not suffer painful consequences from this system, financial speculation must be carefully regulated.

Speculation. I want to underline that term.

May finance be a form of service, and an instrument to serve the people, and to care for our common home!

We still have time to begin a process of global change to practice a different kind of economy, one that is more just, more inclusive and sustainable —and leaves no one behind.

We can do this! And let us pray that those in charge of finance will work with governments to regulate financial markets and protect citizens from its dangers.