C OF E BACKS FOSSIL FUEL DIVESTMENT
The Church of England has voted to pull investments in its $8 billion fund from irms not on track to meet the provisions of the Paris Agreement on climate change by 2023.
Members of the General Synod voted for a motion that affirmed the national investing bodies’(NIB) current approach to tackling climate change, which combines scrutinising companies’ business plans through the Transition Pathway Initiative (TPI) shareholder engagement (including leveraging the threat of disinvestment), and increased investment in renewable energy.