The Church of England Pensions Board is today announcing its intention to disinvest from Shell plc and other oil and gas companies which are failing to show sufficient ambition to decarbonise in line with the aims of the Paris Agreement.<\/p>\n
The new investment restriction announced today will apply to all oil and gas companies that do not have short, medium and long term emissions reduction targets aligned with limiting global warming to 1.5\u00b0C, as assessed by the independent Transition Pathway Initiative. The exclusion will apply to equity and also debt investments.<\/p>\n
\u201cToday we announce our intention to disinvest from all remaining oil and gas holdings across our equity and debt portfolio,\u201d said John Ball, Chief Executive Officer of the Church of England Pensions Board. \u201cThere is a significant misalignment between the long term interests of our pension fund and continued investment in companies seeking short term profit maximisation at the expense of the ambition needed to achieve the goals of the Paris Agreement. Recent reversals of previous commitments, most notably by BP and Shell, has undermined confidence in the sector\u2019s ability to transition\u201d.<\/p>\n
Read it all<\/a>.<\/p>\n Church Commissioners for England to exclude oil & gas companies from investments portfolio over failure to align with climate goals. Pensions Board also to disinvest from oil & gas companies failing to show ambition to decarbonisehttps:\/\/t.co\/nSHPLTZOEY<\/a>https:\/\/t.co\/BbntlGm7G6<\/a><\/p>\n — Church of England in Parliament (@churchstate) June 22, 2023<\/a><\/p><\/blockquote>\n \n