40 Catholic Church groups are to shed interest in historic fossil fuel investments in an effort to be more sustainable.
In an effort to move to a more climate friendly future the large number of groups, including the Episcopal Conference of Belgium, the Archdiocese of Cape Town, the diocese of Assisi-Nocera Umbra-Gualdo Tadino, €4.5bn German Church bank and Catholic relief organisation Caritas.
The divestment is to mark the anniversary of the passing of St Francis of Assisi, who is Catholic Church’s patron saint of animals and the environment.
Speaking to the Guardian, Stefania Proietti, Mayor of Assisi, said: “When we pay attention to the environment, we pay attention to poor people, who are the first victims of climate change. When we invest in fossil fuels, we stray very far from social justice. But when we disinvest and invest in renewable and energy efficiency instead, we can mitigate climate change, create a sustainable new economic deal and, most importantly, help the poor.”
Christiana Figueres added: “I hope we will see more leaders like these 40 Catholic institutions commit, because while this decision makes smart financial sense, acting collectively to deliver a better future for everybody is also our moral imperative.”