CHRISTIAN AID has challenged the Church of England to disinvest from fossil fuels, after it emerged that the Archbishop of Canterbury was involved in persuading a major investment fund to pull its own money out fossil fuels.
BMO Global Asset Management’s range of “responsible” funds will no longer invest in any company which has reserves of fossil fuels, it announced on Monday. Archbishop Welby is the president of the firm’s ethical advisory council, and reportedly played a key part in pushing through the change in policy, which will be implemented by 2020.
Christian Aid is now questioning why the Archbishop cannot play the same part closer to home and pull the C of E’s own investments out of fossil-fuel reserves.