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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 fraxinus-tree on Friday October 06 2017, @08:48PM
In a sense, Roman Catholic Church is one of the biggest investors worldwide. If they put their money and influence into "something", you can be sure the "something" will go a long way. So their bet is pretty much self-fulfilling (they are used in doing that not only with money and not with money alone).
OTOH, putting their money where their mouth is, is not exactly the Vatican style. But, sometimes, they really have to. Like, say, helping the poor. I don't say they are very good at it, but they do.