A new wave of divestment from “fossil fuel” interests by Christian organisations is being campaigned for this July.
According to activists at the campaign group Operation Noah, the announcement, due on July 5, offers church groups the opportunity to “listen to the calls of our global neighbours” in divesting from oil, gas and coal companies before the start of the 2022 Lambeth conference, the gathering of bishops of the worldwide Anglican Communion that takes place roughly every ten years.
Operation Noah’s Bright Now initiative, co-organised with the Laudato Si’ Movement, the World Council of Churches and the Green Anglicans group, aims to convince faith organisations to divest from fossil fuel interests, direct investment to “clean alternatives” instead and encourage a corresponding shift in society at large.
Speaking to The Tablet, James Buchanan, Bright Now campaign director at Operation Noah, said: “It has never been more urgent to address the climate, conflict and cost of living crises faced by the most vulnerable communities around the world.”
Pointing to the 20 fossil fuel companies planning to spend over £750 billion on new oil and gas projects this decade, Buchanan stressed the importance of swift action: “We urge all Catholic dioceses and religious orders to commit to end investments in fossil fuel companies, as recommended by the Vatican, and join the global divestment announcement in July.”
Catholic bishops of Scotland have announced their divestment from fossil fuels alongside 72 other faith organisations in a Bright Now announcement preceding the 2021 COP26 Conference. In 2020, the Jesuit order in Britain announced they would withdraw any investments they had in companies whose major income is from the extraction of fossil fuels. Last year, an open letter signed by 176 Catholic young adults from all 22 dioceses in England and Wales asked the Church in those countries to divest from fossil fuels.
The news comes as another campaigning group, Church Action for Tax Justice, called for a windfall tax on energy companies in response to soaring energy prices. “In a fair society we should not be allowing corporate profiteering at the expense of the population,” the group said. “We're calling on the government urgently to redress the balance.”
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