I write that sentence and lean back in my chair, beaming in amazement. I’ve been working toward this moment for a long time, and lo, it is here. I can hardly believe it.
The Episcopal Church now becomes the third national faith group in the United States to divest from the fossil fuel industry, joining the United Church of Christ, which divested in 2013, and the Unitarian Universalist Association, which divested in 2014.
Other faith groups are also moving forward on divestment. To cite some examples, last year the World Council of Churches, which represents half a billion Christians worldwide, decided to divest from fossil fuel companies. In January, the United Methodist Church announced that its $21 billion pension fund would divest from coal. The Church of England is divesting from coal, and Anglican churches and dioceses in New Zealand, Australia, and the United Kingdom have divested from fossil fuels.
So far the Episcopal Church is the largest denomination in the U.S. to divest from all fossil fuels, and surely it won’t be the last.
The decision made by the Episcopal Church’s 78th General Convention on July 2, 2015, came as a surprise even to the most ardent supporters of the divestment resolution. Several members of our grassroots network of activists, Episcopalians for Fossil Fuel Divestment and Clean Energy Reinvestment, attended the convention, which was held in Salt Lake City. A friend tells me that shortly before the House of Deputies took the vote that sealed the deal, she and another activist exchanged a look of amazement and confessed to each other their tentative hope: Maybe the resolution will actually pass!
Not only did the resolution pass – it passed by an overwhelming margin of 3-1.
I had the sweet responsibility of informing Bill McKibben. It turns out that one of the greatest satisfactions in the life of a climate activist is to be able to give Bill McKibben some good news.
Bill called the Episcopal Church’s decision “unbelievably important.” He added: “The Episcopal Church is putting into practice what the Pope so memorably put into words. It’s an enormous boost to have communities of faith united on the most crucial question facing the planet.”
Why is this decision such good news? Because the Episcopal Church is sending a powerful message to the world: it makes no financial or moral sense to invest in companies that are ruining the planet.
Divesting from fossil fuels and investing in clean energy will accelerate the transition to a just, healthy, and low‐carbon future. Engaging in stockholder activism isn’t good enough – not when an industry’s core business model needs to change. Changing light bulbs isn’t good enough – not when an entire social and economic system needs to be transformed. Waiting, watching, and wringing our hands isn’t good enough – not when the Earth cries out for healing, and when the poor, who are affected first and hardest by climate change, cry out for justice and mercy.
Averting climate catastrophe requires that at least 80% of known fossil fuel reserves remain where they are, in the ground. The only way to keep them there will probably be some combination of carbon pricing, governmental regulation, and strong international treaties. How can we build the spiritual, moral, and political pressure to accomplish that? We can divest from fossil fuels. We can align our money with our values. We can make it clear that fossil fuels have no place in a healthy portfolio if you’re hoping for healthy kids or a healthy planet.
I don’t know to what extent the release of the Pope Francis’ encyclical several weeks ago affected the divestment decision that was made by the Episcopal Church, but I do know that countless people the world over have been inspired the Pope’s bracing reminder that the climate crisis is not just a scientific, political, or economic concern, but also an issue that raises fundamental moral and spiritual questions.
What kind of world do we want to leave our children? What does it mean to live with reverence for the living, intricate, beautiful biosphere into which you and I were born? What responsibility do we have for ensuring that the web of life continues intact for generations yet to come? What responsibility do we have for the poor? How can we possibly love God and our neighbor if we scorch and desecrate the world that God entrusted to our care, and dislocate, drown, and starve our neighbors, beginning with the poorest?
The Episcopal Church resolution commits more than $350 million for divestment, and it urges all parishes and dioceses in the Church to engage the topic of divestment and reinvestment within the coming year, potentially unlocking an additional $4 billion in assets. The pension fund, which manages $9 billion, was not included in the final version of the resolution. Episcopalians for Fossil Fuel Divestment and Clean Energy Reinvestment looks forward to ongoing conversations with the pension board, recognizing that all of the Church’s assets are called to serve God’s mission and that the Episcopal Church is now on record in recognizing that restoring Creation is at the center of God’s mission today. (For more discussion of the resolution, here is an interview I gave to our local newspaper.)
Sometimes it seems that human beings are determined to careen toward catastrophe. Oddly enough, it gives me hope when I consider that no one knows whether or how we will save ourselves from disaster. I keep thinking of a piece of wisdom that has been attributed to Mahatma Gandhi: “Whatever you do will be insignificant, but it is very important that you do it.” Not knowing what, if anything, will make humanity change course gives me energy to be persistent and creative, even if my efforts seem insignificant. Maybe this letter to urge divestment, this phone call, this lobbying for carbon pricing, this climate rally, this campaign to stop new pipelines, this vegetable garden, this decision to walk rather than drive, this willingness to borrow rather than to buy – maybe each small effort will combine mysteriously with other people’s efforts and suddenly we will surprise ourselves and society will shift to a life-sustaining path. I can’t argue with a remark that country music singer-songwriter Naomi Judd once made: “A dead end street is a good place to turn around.”
Unexpected changes, shifts, and transformations happen. Call it chaos theory. Call it an expression of “punctuated equilibrium,” Stephen Jay Gould’s term for the way that a system can look completely stable even though an unseen tension or energy is secretly building up. Suddenly it bursts forth, producing a new species, moving tectonic plates apart, or generating abrupt, rapid, and unforeseen changes in society. (For a wonderful essay that develops these ideas, see David Roberts’ “For a Future to Be Possible: Hope & Fellowship.”)
History is like that: non-linear and full of surprises. So, too, is the Holy Spirit. She blows where she wills, opening minds and touching hearts, making all things new.
The prophet Isaiah was right. Awakened to the presence of a merciful, dynamic, and ever-living God, Isaiah heard God say: “Do not remember the former things, or consider the things of old. I am about to do a new thing; now it springs forth, do you not perceive it?” (Isaiah 43:18-19).
We just saw it happen: the Episcopal Church voted to divest from fossil fuels.
Want to know what will happen next in the ever-expanding, unpredictable, and non-linear movement to save the planet? Find out. Jump in and join the struggle. Do what you can, even if it seems insignificant. And get ready to be surprised.
From the blog of the Rev. Margaret Bullitt-Jonas, Missioner for Creation Care, Episcopal Diocese of Western Massachusetts
http://www.episcopalcafe.com/the-magazine-divest-re-invest-rejoice/
http://www.generalconvention.org/gc/2015-resolutions/A030/current_english_text
http://www.generalconvention.org/gc/2015-resolutions/C045/current_english_text
http://www.generalconvention.org/gc/2015-resolutions/A030/current_english_text
http://www.generalconvention.org/gc/2015-resolutions/C045/current_english_text
United Church of Christ News
ReplyDeleteUnited Church of Christ to become first U.S. denomination to move toward divestment from fossil fuel companies
June 30, 2013
Written by Micki Carter
general_synod_29_04.jpgA set of strategies to attack climate change — which includes a path to divestment from fossil fuel companies — was passed by General Synod 2013 Monday afternoon at the Long Beach Convention Center. This action on July 1 makes the United Church of Christ the first major religious body in the U.S. to vote to divest from fossil fuel companies.
The resolution, brought by the Massachusetts Conference and backed by 10 other conferences, calls for enhanced shareholder engagement in fossil fuel companies, an intensive search for fossil fuel-free investment vehicles and the identification of "best in class" fossil fuel companies by General Synod 2015.
By June 2018, a plan would be prepared to divest UCC funds in any fossil-fuel company, except for those identified as "best in class" which the Rev. Jim Antal, the major proponent of the resolution, called an "oxymoron," noting that no such fossil fuel companies are likely to exist.
"Today, the national Synod of the UCC added another 'first' when it became the first national faith communion to vote to divest from fossil fuel companies – and to do it with the support of its major investment institution, United Church Funds," Antal said.
"This resolution becomes a model for all faith communities who care about God's creation and recognize the urgent scientific mandate to keep at least 80 percent of the known oil, gas and coal reserves in the ground. . . This vote expresses our commitment to the future. By this vote, we are amplifying our conviction with our money."
The original proposal brought to General Synod called for a five-year movement toward divestment. In committee, a substitute resolution that Antal and the leadership of United Church Funds collaborated on to address the UCF and Pension Boards concerns of their fiduciary responsibility to maximize investment.
"This resolution calls on each and all of us to make difficult changes to the way we live each day of our lives," said Donald Hart, UCF president. "Implementing the multiple strategies outlined in this resolution will demand time, money and care — but we believe Creation deserves no less."
The Pension Boards didn't participate in the negotiations that led to the substitution resolution that was ultimately adopted. After the vote, Michael A. Downs, Pension Boards CEO issued a statement that his organization "will support and implement the resolution, to the extent possible, within our legal responsibilities as fiduciaries of the Annuity Plan for the UCC, acting on behalf of the active and retired members who have entrusted their retirement assets to us."
During the floor debate, a number of delegates urged consideration of the economic impact this course of action will have on jobs and the economies of states like Montana, Wyoming and Kentucky, which are heavily dependent on the fossil fuel industry.
"Let’s talk real divestment here," Mark Wampler of Iowa Conference said. "Divest yourself of your airline tickets and find a non-carbon way to go home."
The General Synod also passed a resolution on making UCC church buildings more carbon-neutral. Earlier in the week, the committee amended the proposal to call on UCC congregations to conduct energy audits on their facilities as the first step toward carbon neutrality. Sara Brace, committee chair and delegate from the Pennsylvania Northeast Conference of the UCC, also stressed that achieving carbon neutrality can be a gradual process for congregations.
"The encouragement portions of the resolution are what resonated with many committee members," said Brace. "By reducing our carbon footprint, we are helping the environment one step at a time."
http://www.ucc.org/gs2013-fossil-fuel-divestment-vote
The Unitarian Universalist Association Joins Fossil Fuel Divestment Movement
ReplyDeleteBy UUA
June 28, 2014 - 12:00am
For more information, contact:
UUA's Public Relations Director
(617) 948-4386 (office)
jgoddard@uua.org
BOSTON–Delegates at the 2014 General Assembly (GA) of the Unitarian Universalist Association (UUA) meeting in Providence, RI, today passed a resolution calling for divestment from fossil fuel companies in the UUA Common Endowment Fund (UUCEF).
The resolution requires the UUA to:
Cease purchasing securities of CT200 companies as UUCEF investments immediately
Continue to divest its UUCEF holdings of directly held securities of CT 200 companies, reaching full divestment of these companies within five years
Work with its current and prospective pooled-asset managers for the purpose of creating more fossil fuel-free investment opportunities, with the objective of full divestment of UUCEF indirect holdings in CT200 companies within five years
Invest an appropriate share of UUCEF holdings in securities that will support a swift transition to a clean energy economy, such as renewable energy and energy efficiency-related securities
Report, via the UUA President and the Treasurer, to each General Assembly from 2015 through 2019 on our Association’s progress on the above resolutions
Following the vote, UUA President Peter Morales said, “The UUA has a long-standing history of fighting for our environment. I am proud that we are going to put our money where our values are on this issue.”
The resolution was carefully crafted by a committed group of activists known as UU Divest (formally, Unitarian Universalists for Fossil Fuel Divestment and Sustainable Reinvestment) in collaboration with members of the UUA Committee on Socially Responsible Investing and the UUA Investment Committee. The UUA Board of Trustees endorsed the resolution as it was originally written at their meeting on April 13.
Terry Wiggins, a leader in the divestment effort, stated, “We, private citizens and the private and nonprofit sectors, need to take matters into our own hands, and use every strategy we can to convince the government and public at large of our planetary emergency, and that we must act now.”
The resolution allows the UUA to retain investments in fossil fuel companies with which it is engaged in shareholder actions seeking environmental justice. David Stewart, co-chair of the UUA’s Socially Responsible Investing Committee, stated, “We are encouraged that the UUA can continue its longstanding successes in shareholder advocacy while helping to lead the divestment movement with the approval of today’s fossil fuel divestment resolution. We believe strongly that any effort that can change the current trajectory of climate change is a welcome improvement.”
The UUA has a long history of shareholder activism on a variety of issues including environmental justice. Most recently, the UUA has worked to increase transparency in the executive office of Chevron Corp. and supported new Environmental Protection Agency limits on carbon emissions for new and existing power plants.
The UUA is a faith community of more than 1,000 congregations that bring to the world a vision of religious freedom, tolerance, and social justice.
http://www.uua.org/news/press-release/unitarian-universalist-association-joins-fossil-fuel-divestment-movement
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ReplyDeleteWorld Council of Churches rules out fossil fuel investments
ReplyDeleteCampaigners hail ‘major victory’ as council representing half a billion Christians says it will rule out investing in fossil fuels
The World Council of Churches has revised its ethical investment criteria to exclude fossil fuel companies
Friday 11 July 2014 05.39 EDT
Last modified on Tuesday 10 March 2015 12.06 EDT
An umbrella group of churches, which represents over half a billion Christians worldwide, has decided to rule out future investments in fossil fuel companies.
The move by the World Council of Churches, which has 345 member churches including the Church of England but not the Catholic church, was welcomed as a “major victory” by climate campaigners who have been calling on companies and institutions such as pension funds, universities and local governments to divest from coal, oil and gas.
In an article for the Guardian in April, Archbishop Desmond Tutu said that “people of conscience need to break their ties with corporations financing the injustice of climate change” and events sponsored by fossil fuel companies could even be boycotted.
Bill McKibben, the founder of climate campaign group 350.org, said in a statement: “The World Council of Churches reminds us that morality demands thinking as much about the future as about ourselves – and that there’s no threat to the future greater than the unchecked burning of fossil fuels. This is a remarkable moment for the 590 million Christians in its member denominations: a huge percentage of humanity says today ‘this far and no further’.”
The report of the council’s financy policy committee, published on Thursday on the final day of the council’s central committee meeting in Geneva, says that: “The committee discussed the ethical investment criteria, and considered that the list of sectors in which the WCC does not invest should be extended to include fossil fuels.” The WCC does not have any existing investments in fossil fuels.
350.org’s European divestment coordinator, Tim Ratcliffe, said: “The World Council of Churches may be the most important commitment we’ve received yet.”
Thursday’s decision only applies to the council’s own future investments, rather than its members, such as the Church of England. A CoE spokeswoman said: “The WCC decision refers to its own financial investments only and not those of its member bodies.”
The CoE has not moved yet to divest from fossil fuel companies but has set up a subgroup to take advice on climate change and investment, with a decision expected next year.
In May, the UN’s climate chief, Christiana Figueres, gave a speech to faith leaders at St Paul’s cathedral in London, calling on them to show leadership on climate change. She also said religious groups should drop their investments in fossil fuels, and encourage their members to do the same.
Christiana Figueres speech at St Paul’s cathedral
Studies have suggested the fossil fuel divestment campaign, which began in the US, has been faster than than any previous divestment movement such as tobacco and apartheid.
This article was updated on 10 March 2015 to reflect a confirmation from the WCC that it does not hold any current investments in fossil fuels.
http://www.theguardian.com/environment/2014/jul/11/world-council-of-churches-pulls-fossil-fuel-investments