The Church of England pushed back on Friday from calls to get rid of its investments in companies extracting or selling fossil fuels, saying it would mean a financial hit and it was better to use shareholder influence to pressure change.
The church’s Ethical Investment Advisory Group is reviewing its policy on ethical investment related to climate change, with some church officials calling for disinvestment from such companies to highlight the need to move to a low-carbon economy.
The Church of England, mother church of the world’s 80 million Anglicans, holds total investments worth about 8 billion pounds ($US13 billion) that are used to pay clergy pensions and fund the church’s work.
One more reason to ignore the reconciliation blather.