More than 40 Catholic institutions are to announce the largest ever faith-based divestment from fossil fuels, on the anniversary of the death of St Francis of Assisi.
The sum involved has not been disclosed but the volume of divesting groups is four times higher than a previous church record, and adds to a global divestment movement, led by investors worth $5.5tn.
[...] Assisi's mayor, Stefania Proietti – a former climate mitigation professor – told the Guardian: "When we pay attention to the environment, we pay attention to poor people, who are the first victims of climate change.
"When we invest in fossil fuels, we stray very far from social justice. 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."
Are they putting their money where their mouth is, or making a smart economic bet?
(Score: 2) by stormreaver on Saturday October 07 2017, @11:55PM
No, they aren't. Religion and paper money are close to diametric opposition. Religion asks you to believe in absurd notions that have no basis in fact. Paper money exists as a medium of exchange to the extent that people know that they can accept it now and pay with it later. The two have almost nothing in common. Bitcoin is close to a religion, though.