Blog Archive: coal Archives - Bright Now

4

Jul

2017

After Glencore’s huge coal mine bid, is it time for the Church of England to divest?

The mining giant Glencore has made a £2.7 billion bid for a massive coalfield in Australia, leading to questions about the Church of England’s future investment in the company. Read more

2

Jul

2015

Methodist Conference votes overwhelmingly to disinvest from coal and tar sands

Today, the Conference of the Methodist Church in Britain voted unanimously to disinvest from coal and tar sands by 2017. The Conference also asked the Church’s ethical investment body to report back on possible further disinvestment from other fossil fuels by 2016.

This follows a revised policy on climate change and investment published by the Methodist Church earlier this year, which set criteria for disinvesting from coal and tar sands but did not make an explicit commitment to take immediate action.

Those speaking during the debate argued for disinvestment from an industry that has failed to respond to climate change for more than 20 years, threatening to push the global climate beyond 2 degrees C warming. One representative from West Yorkshire Methodist District, which earlier this year voted overwhelmingly for the Church to disinvest from coal, oil and gas, said, ‘The argument for disinvestment is based on the gospel imperative to love our neighbour. How can we love God if we fail to halt the threat to the Earth he created?’

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23

Jan

2015

US United Methodist Church’s Pension Fund screens coal from its investments

The United Methodist Church’s (UMC) General Board of Pension and Health Benefits has decided to screen coal from its investments.

Revd Jenny Phillips, coordinator of Fossil Free UMC, commends the decision: ‘Creating a coal investment screen is more than an act of fiduciary duty. It’s a bold expression of the United Methodist Church’s values. As a denomination, we can’t continue to say we’re against climate change while saying we’re for fossil fuel profits. The General Board of Pension and Health Benefits is taking the first step in acknowledging that investing in fossil fuels undermines the United Methodist Church’s ministries with the most vulnerable among us. Our denomination is on the front lines of climate change mitigation and recovery efforts worldwide. It doesn’t make sense for our pensions and ministries to depend on the flourishing of the companies that are wreaking this havoc’. Read more

13

Mar

2014

Bracknell Deanery Synod votes for Church of England to disinvest from coal, oil and gas

Bracknell Deanery Synod in the Diocese of Oxford is the latest body in the Church of England to call for the Church to disinvest from coal, oil and gas in response to the damage caused by burning fossil fuels.

In a motion which passed with a clear majority of 18 to 4 (with 9 abstentions) on 11th February, the Synod calls on the National Investing Bodies to disinvest from tar sand and coal companies (excluding those investing in carbon capture and storage) at the earliest opportunity. Read more

10

Mar

2014

Why disinvestment from coal is essential to unlocking climate change

A common reaction to proposals to cut pollution from fossil fuels is that doing so is too complicated and too difficult. In effect, there is nothing we can do that will make a difference.

The numbers tell a different story. The pollution that is modifying the atmosphere, oceans and climate comes mainly from burning fossil fuels. And a large chunk of this is from burning coal. As I write, 35.29% of the electricity powering my laptop is being generated by coal-fired power stations in the UK.  Read more