14

Jan

2022

Diocese of Worcester divests from fossil fuels

 

The Diocese of Worcester has announced its divestment from fossil fuel companies, joining many other dioceses and religious institutions around the world.

Worcester Diocese’s divestment commitment came after its investment managers, CCLA Investment Management, whose CBF funds manage investments on behalf of many Church of England dioceses and local churches, sold its last remaining shares in fossil fuel extraction companies.

The Diocese of Worcester becomes the seventh Church of England diocese to make a commitment to divest from fossil fuel companies, after the Dioceses of Oxford, Bristol, Sodor & Man, Truro, Norwich and Durham have also made divestment commitments in recent months.

In October 2021, 72 faith institutions, including 37 from the UK, joined the largest-ever divestment announcement by religious institutions. Most UK Churches, including the Central Finance Board of the Methodist Church with £1.3 billion of assets under management, have fully divested from fossil fuel companies.

Bishop Martin Gorick, the Bishop of Dudley, said: ‘This January brings us one more year closer to 2030, when we have resolved to do all we can across the Church of England to reach a net zero carbon position. We are facing a climate emergency and it’s up to all of us, as churches and as individuals, to do what we can to protect this planet for future generations. 

‘The task is huge, but every gram of carbon we save will make a difference. As well as how we heat our homes and churches, how we travel and live, this stewardship responsibility extends to where we invest our money.’

James Buchanan, Bright Now Campaign Manager for Operation Noah, said: ‘At the start of 2022, it is hugely encouraging that the Diocese of Worcester has decided to divest from fossil fuel companies, joining a movement of more than 1,500 institutions around the world. We hope many more Church of England dioceses will be inspired to join them in divesting from fossil fuel companies, as well as investing in climate solutions, such as renewable energy.’

Divest your church

If you would be interested in getting your local church or diocese to make a divestment commitment, we would be delighted to hear from you.

Please get in touch with Bokani Tshidzu on bokani.tshidzu@operationnoah.org for further information or to register your interest.

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