The calls were contained in a 225-page manual for church leaders and workers to mark the fifth anniversary of Pope Francis’ landmark encyclical “Laudato Si” on the need to protect nature, life and defenseless people.
The institutions represent a variety of faiths, including those from Catholic, Methodist, Buddhist, Quaker, Baptist, and Anglican traditions and over $1 billion in assets. The coalition is urging governments to focus on a just, low-carbon future following the COVID-19 pandemic.
The UC milestone capped a five-year effort to move the public research university system’s $126-billion portfolio into more environmentally sustainable investments. UC officials say their strategy is grounded in concerns about the planet’s future and in what makes financial sense.
The world’s biggest wealth fund was built on Norway’s oil and gas production revenue. Now, the fund is taking a stand against global warming by excluding some of the world’s largest fossil fuel companies from its portfolio.
In a motion passed by Oxford’s governing body, the Congregation, which is made up of 5,500 academic and administrative members, the university is now required to cut all ties with fossil fuel firms and end future investment in these companies.
So far, more than 150 Catholic banks, universities, foundations, and others have pledged to end their investments in fossil fuels.
The Court found the U.S. Army Corps of Engineers violated the National Environmental Policy Act when it affirmed federal permits for the pipeline originally issued in 2016.
In addition to this announcement, the investment bank has achieved its sustainable investment goal three years early, increasing its core sustainable investments by more than 56% to USD $488 billion.
JPMorgan Chase and Wells Fargo will no longer fund oil and gas drilling in the Arctic, including the Arctic National Wildlife Refuge. The announcements come on the heels of similar commitments made by Goldman Sachs and BlackRock.
Florida Gov. Ron DeSantis (R) on Wednesday announced that the state plans to buy a 20,000-acre section of the Everglades to prevent oil drilling in the area, according to the Miami Herald.
