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Tuesday, September 26, 2023

Church Commissioners, Church of England Pensions Board announce fossil fuel disinvestment

The Church Commissioners and Church of England Pensions Board have announced they will independently disinvest from fossil fuels in 2023 as the Church of England’s National Investing Bodies (NIBs) reported back to the General Synod on progress against a 2018 Synod motion.

Justin Welby
Archbishop of Canterbury, Justin Welby

The report to Synod from the NIBs notes that, while some companies make significant progress, no fossil fuel company passes the 2023 hurdles set by the NIBs.

In response, the Church Commissioners for England and the Church of England Pensions Board announced their intentions to disinvest accordingly.

The General Synod meets for its July 2023 group of sessions from July 7 to 11 at the University of York.

The Archbishop of Canterbury, Justin Welby, said: “The climate crisis threatens the planet we live on, and people around the world who Jesus Christ calls us to love as our neighbours. It is our duty to protect God’s creation, and energy companies have a special responsibility to help us achieve the just transition to the low-carbon economy we need.”

The July Synod agenda includes a motion on safeguarding redress following the publication of outline proposals for the Church’s national redress Scheme earlier in the week noting the importance of redress for survivors and victims and the allocated funding of £150 million from the Church Commissioners to be released once the key parameters of the Scheme are in place.

Find out more here.

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