Responsible Investor interviews Bp of Salisbury Nick Holtam–a Climate Pilgrim

Something he is keen to stress is the cross-faith work going on around climate change ”“ particularly in light of the Pope’s encyclical, which he says has had a “huge” impact. Holtam himself recently presented to the Jewish Board of Deputies with former Friends of the Earth Director Jonathon Porritt. “There is a sense that we really want to work across the faith communities,” he says ”“ pointing to an “ecumenical convergence” on the issue. The force of events ”“ an “existential crisis” ”“ was pushing faiths together to find a common solution. Indeed, our meeting coincided with a visit to London by the Patriarch of Constantinople, Bartholomew I, who insisted at an event with Archbishop of Canterbury Justin Welby that global warming is a “moral crisis” requiring behavioural change.

“What we need to move to is a low carbon economy and therefore there needs to be a positive investment into renewable energy,” Holtam says. “There’s going to become a tipping point at which there are stranded assets and the question is, who’s going to spot when that comes? Because there’ll be a moment when you’re much better off investing in renewables than you are in fossil fuel.” Holtam doesn’t engage directly with corporate executives directly, but what would he say to the senior people at BP and Shell? “There’s a community of common interest,” he observes.

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