The Church of England has warned it could withdraw its investments from BP and Shell unless the oil giants take greater action to tackle climate change.
Article by Tom Bawden published by The Independent Wed 10 Dec 2014: Church of England threatens to cease BP and Shell investments over climate concerns
The Church of England has warned it could withdraw its investments from BP and Shell unless the oil giants take greater action to tackle climate change.
In a significant boost to the growing “divestment” campaign that has spread from the US. the Church has become the first mainstream religious organisation in the UK to raise the prospect of severing ties with fossil fuel companies because of global warming.
The Church, which has tens of millions of pounds invested in both BP and Shell, says it’s targeting the two companies because they have the biggest carbon footprints in the UK.
It plans to put pressure on them to become greener through a “shareholder resolution” – a formal call by investors to take action.
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