Catholic Institutions Divest From Fossil Fuels

A group of 40 Catholic institutions divested from fossil fuels Tuesday on the anniversary of the death of Saint Francis of Assisi, patron saint of animals and the environment.

The group has set a record for the largest faith-based divestment from fossil fuels, CNBC reports.

“As a Catholic Church bank, we feel strongly responsible to participate in tackling the issue of climate change,” Bank for the Church and Caritas sustainability officer Tommy Piemonte said in a statement to CNBC.

The town of Assisi in Italy is also planning on breaking ties with fossil fuels on Saint Francis’ feast day. Assisi mayor Stefania Proietti said the move symbolized awareness of the environment and victims of climate change, according to The Guardian.

“When we invest in fossil fuels, we stray very far from social justice,” Proietti told The Guardian. “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.”

Catholics and Assisi’s divestment of fossil fuels echoes Pope Francis’ position on environmentalism.

“It must be stated that a true ‘right of the environment’ does exist,” Francis said during a speech to the U.N. according to The Guardian. “Any harm done to the environment, therefore, is harm done to humanity.”

Read more at Daily Caller

Trackback from your site.

Comments (5)

  • Avatar

    Tom O

    |

    Love the picture of the two communists plotting to bring down western civilization. But it took several minutes for me to struggle to get up from the floor, where I was laughing at the comment of “create a sustainable new economic deal and, most importantly, help the poor.” Yep, Pricing them into energy poverty is going to help a lot of the poor – die that is.

    Reply

  • Avatar

    Spurwing Plover

    |

    Time to divest in 40 catholic instititution of fools old satan must be rubbing his hands with glee over their idiotic and foolish move

    Reply

  • Avatar

    Raining Sky

    |

    The divestment idiots all believe that when they sell a stock they are selling it back to the company and “getting their money back” and that they are therefore hurting the company. They don’t know that another investor is buying their stock. They don’t know what a stock MARKET is.

    Reply

  • Avatar

    old44

    |

    Big deal, by his dealings with the Muslims Francis the Insane has been divesting the church of Christianity for some time now.

    Reply

  • Avatar

    Spurwing Plover

    |

    Could they be violating one of the ten Comandments? THOU SHALL HAVE NO OTHER GOD BEFORE ME looks to me like their becoming a bunch of earth worshipers

    Reply

Leave a comment