11

Mar

2014

More support for disinvestment from Bradford North Methodist Circuit

 

‘What on earth is disinvestment?’ I hear you ask. Members of the Methodist circuit meeting of Bradford North know. They voted on Wednesday 5th March by 29 votes to 7 (with 16 neutrals) for the Memorial (Proposal):

‘Bradford North Circuit requests the Central Finance Board of the Methodist Church to disinvest in firms whose main purpose is the extraction of fossil fuels from the earth.’

Since 18.9% of Methodist money with the Central Finance Board in 2013 was invested in oil and gas, the vote was a request to remove such investment. We know that at least half the reserves of our biggest oil companies are unburnable if we are to have any chance of staying within the 2°C ‘safe’ limit for global temperature rise. So the value of these firms is grossly inflated. In the interests of climate stability and the value of the Methodist Church investments, our money should be withdrawn and invested in renewables.

I hope many other Circuits and church meetings in all denominations will pass similar motions so that a ripple becomes an irresistible tide in all churches.

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John D Anderson, Local Preacher in Bradford North Circuit