Church of England Pensions Board Announces Fossil Fuel Disinvestment
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The Church Commissioners and the Church of England Pensions Board have announced that they will independently disinvest from fossil fuels.
The Church Commissioners and Church of England Pensions Board each announced they will independently disinvest from fossil fuels this year, as the Church of England’s National Investing Bodies reported back to the General Synod on progress against a 2018 Synod motion, which set out a five-year strategy to invest in climate solutions, engage with high carbon emitting companies, and disinvest from fossil fuel companies not aligned with the Paris Agreement.
The report to Synod from the NIBs on their “Approach to Climate Change”, presents the progress that has been made by the NIBs in response to the Synod motion, but notes that, while some companies have made significant progress, no fossil fuel company has passed the 2023 hurdles set by the NIBs. Today, the Church Commissioners for England and the Church of England Pensions Board each announced their intentions to disinvest accordingly.
The Archbishop of Canterbury, Justin Welby, said: “The climate crisis threatens the planet we live on, and people around the world who Jesus Christ calls us to love as our neighbours. It is our duty to protect God’s creation, and energy companies have a special responsibility to help us achieve the just transition to the low-carbon economy we need.”
“We have long urged companies to take climate change seriously, and specifically to align with the goals of the Paris Climate Agreement and pursue efforts to limit the rise in temperature to 1.5°C above pre-industrial levels. In practical terms that means phasing out fossil fuels, investing in renewables, and plotting a credible path to a net-zero world. Some progress has been made, but not nearly enough. The Church will follow not just the science, but our faith – both of which call us to work for climate justice.”
See related article: Biden, Sunak Sign New US-UK Agreement to Accelerate Energy Transition
The General Synod meets for its July 2023 group of sessions between 7 and 11 July at the University of York.
As well as a presentation from the NIBs, the July Synod agenda will include a motion on safeguarding redress following the publication of outline proposals for the Church’s national redress Scheme earlier in the week noting the importance of redress for survivors and victims and the allocated funding of £150 million from the Church Commissioners to be released once the key parameters of the Scheme are in place.
There will also be an update on the work of the Living in Love and Faith process following Synod’s vote in February. The proposals would not change the Church’s doctrine of marriage but would enable same-sex couples to come to church after a civil marriage or civil partnership for prayers of dedication, thanksgiving and for seeking God’s blessing on the two people.
The update includes refined texts of the proposed Prayers of Love and Faith and an outline of progress on developing new pastoral guidance and options for pastoral reassurance.
There will be consideration of recommendations from the National Church Governance Project Board, a review of the Mission and Pastoral Measure and a number of motions from Diocesan Synods.
Motions brought from Diocesan Synods will ask the General Synod to examine its response to the climate emergency (Oxford); discuss the contribution of faith to prisoner rehabilitation (Worcester) and look at fees payable to parishes for marriage services (Blackburn).
Legislative and formal business will include approval of options for churches to use electronic registers to record services, the new Clergy Conduct Measure, faculty jurisdiction (amendment) rules and a new Code of Practice on how to conduct Safeguarding Practice Reviews.