The Global Catholic Climate Movement says the news shows the growing strength of the divestment movement within the Catholic Church.

"When it comes to protecting our common home, we have not a moment to lose," Tomas Insua, executive director of GCCM which co-ordinated the action, says.

Pledges to take money out of fossil fuels were made by 35 religious orders, lay organisations and social justice movements.

Those signed up to the move include the Scottish Catholic International Aid Fund (Sciaf), humanitarian aid organisation Caritas Internationalis, three Catholic banks and several dioceses.

Caritas Internationalis is one of the largest humanitarian organisations in the world. Several members of its executive board are directly appointed by the Holy See.

Caritas Internationalis president, Cardinal Luis Tagle, says "The poor are suffering greatly from the climate crisis and fossil fuels are among the main drivers of this injustice."

Sciaf director Alistair Dutton echoed Caritas's view.

"The world is facing ecological, humanitarian and moral crises as we approach the point of no return from irreversible global warming and climate chaos," he says.

"Highly polluting fossil fuels are a major driving force behind this.

"The communities Sciaf works with in developing countries are already struggling to cope with the impact of climate change."

Leading Catholic banks pledging to divest include Pax Bank, Bank Im Bistum Essen eG, and Steyler Ethik Bank.

In addition, the archdioceses of Luxembourg and of Salerno-Campagna-Acerno, along with the diocese of Communauté Mission de France are announcing divestments.

It is understood Secours Catholique in France plans to divest an estimated €10m, while the Catherine Donnelly Foundation will be divesting around CAN$800,000.

Several US parishes are dropping an estimated US$400,000 from their total $3m assets.

The Archbishop of Luxembourg, Jean-Claude Hollerich, says bishops are increasingly committed to making financial decisions "in line with our moral values.

"Divestment is an important way for the Church to show leadership in the context of a changing climate," he says.

"Praise be to all those who serve 'the least of these' by protecting the environment."

The 35 institutions made the pledge to coincide with international Earth Day on 22 April.

They are joining 60 Catholic organisations that have previously decided not to invest in fossil fuels.

Source

• businessGreen
• Herald Scotland
• Image: Blandford Nature Centre

They want to show the world it is not okay to keep polluting the environment.

As an example, nine Italian organisations divested from fossil fuel corporations in time to send a message to the G7 summit being held today and tomorrow in Taormina, Sicily.

Representatives of the organisations said earlier this month they were inspired to act by Pope Francis's encyclical, "Laudato Si, on Care for Our Common Home."

Several others in the US, Britain and Italy have joined the fossil fuel divestment movement.

Neil Thorns, who is the director of advocacy for the Catholic Agency For Overseas Development, said Catholics around the world are taking notice of Pope Francis's concern for the environment.

"Global temperatures last year were, for the third year running, the hottest on record," Thorns pointed out.

"Catholics around the world have recognized the impact this has on our sisters and brothers and are responding to the pope's call for us to take action."

A global divestment campaign that ran earlier this month saw many organisations withdrawing investments from companies involved in coal, oil and natural gas extraction.

Renewable energy is now receiving cash injections from Catholic investors.

Source

• National Catholic Reporter
• Bulletin of the Atomic Scientists
• Image: The Earth Project