Fossil fuels: As Catholic organisations divest, international group wants Vatican, faith institutions to follow suit

Caritas International, three Catholic banks in Germany with balance sheets of over $7.5 billion, and several Catholic dioceses have announced their divestment from fossil fuels.

The divestment announcement, according to the National Catholic Reporter, was made by the Global Catholic Climate Movement on the recent Earth Day celebration as part of a continuing campaign to convince Catholic entities to move investment to renewable energy enterprises.

The announcement has prompted a Climate Change pressure group called 350.org to mobilise the public to press for more Climate Change action from faith institutions.

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According to 350.org, “This is a perfect moment to ask Pope Francis again to divest the Vatican from the companies that fuel climate change around the world. But if we are to push the Vatican itself to divest we need to keep this momentum going strong.

“Imagine if we can amplify and multiply this major announcement together in our communities, how many other faith institutions we can persuade to divest from fossil fuels too? We need to create a huge wave of local change that reaches those in power at the Vatican.

“Divestment is one part of a bigger push for a Fossil Free world. But we need to do more. We need to make sure that no new fossil fuel projects are built, not a penny more is invested in fossil fuel companies, and that we work to a 100% renewable energy future – for all.

Pope Francis has already been voicing his concerns about climate change and the fossil fuel industry, and Vatican officials have even acknowledged the call for fossil fuel divestment. But so far they have not committed to divesting the Vatican from fossil fuels. If we can persuade other Catholic institutions to divest we can show the Vatican that they too should have the moral courage to divest and we need you help to spread that message.”