“Every dollar invested in fossil fuels is a vote for suffering. These institutions are taking prophetic action to light the way towards a more just and sustainable future because now more than ever, we need to protect our communities and build a just recovery together.”
Tomás Insua, Executive Director of Global Catholic Climate Movement, said:
In 2020 the Catholic Church published a manual called "Journeying Towards Care For Our Common Home" that explains to Catholics how to divest from institutions considered to be harmful by the Catholic Church. Those include fossil fuels, child labour, and weapons. The Vatican Bank claims that it is not investing in fossil fuels with many other Catholic organisations.
"Divesting from fossil fuels is important. As Catholics, we’re called to protect creation and all who share it. Divestment from fossil fuels–and reinvestment in clean renewable energy–can go a long way towards protecting our common home from climate change and pollution.
As importantly, every act of divestment is a vote for the clean energy economy. Fossil fuel companies know that their business model requires constant new investments in a diminishing resource–even Shell says that divestment is a “material risk” to its dirty energy bottom line". (GCCM)