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| United Reformed Church of Scotland divests from fossil fuels | United Reformed Church of Scotland divests from fossil fuels |
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| The United Reformed Church (URC) of Scotland has committed to pull out its investments in fossil fuel companies. | The United Reformed Church (URC) of Scotland has committed to pull out its investments in fossil fuel companies. |
| The resolution was passed with “overwhelming support” on Saturday at a meeting of their General Synod at the Scottish Police College in Fife. The synod contains 50 churches and is one of 13 synods representing 60,000 members in the URC in Great Britain. | The resolution was passed with “overwhelming support” on Saturday at a meeting of their General Synod at the Scottish Police College in Fife. The synod contains 50 churches and is one of 13 synods representing 60,000 members in the URC in Great Britain. |
| A spokesman for the synod says about 4% of its total portfolio is invested in oil, coal and gas companies, including Shell and Total. They have committed to divest from all such companies and to not make any future fossil fuel investments. Eco-Congregation Scotland, the environmental movement for Scottish churches, estimate that their current assets amount to £70,000. | A spokesman for the synod says about 4% of its total portfolio is invested in oil, coal and gas companies, including Shell and Total. They have committed to divest from all such companies and to not make any future fossil fuel investments. Eco-Congregation Scotland, the environmental movement for Scottish churches, estimate that their current assets amount to £70,000. |
| On March 16 the Guardian began a campaign calling on the world’s two largest charitable foundations – the Wellcome Trust and the Bill and Melinda Gates Foundation – to divest from fossil fuels. The campaign, which has attracted more than 144,000 signatures, is part of a new climate change project introduced by editor-in-chief Alan Rusbridger. | On March 16 the Guardian began a campaign calling on the world’s two largest charitable foundations – the Wellcome Trust and the Bill and Melinda Gates Foundation – to divest from fossil fuels. The campaign, which has attracted more than 144,000 signatures, is part of a new climate change project introduced by editor-in-chief Alan Rusbridger. |
| There are several times more fossil fuel reserves in the ground than can be burned if the world is to reach international targets to keep global warming within a 2C rise and avoid catastrophic climate change. Mark Carney, governor of the Bank of England, has said that “the vast majority of reserves are unburnable” which would mean that the assets of fossil fuel companies would become “stranded” or worthless. | There are several times more fossil fuel reserves in the ground than can be burned if the world is to reach international targets to keep global warming within a 2C rise and avoid catastrophic climate change. Mark Carney, governor of the Bank of England, has said that “the vast majority of reserves are unburnable” which would mean that the assets of fossil fuel companies would become “stranded” or worthless. |
| Reverend John Humphreys, moderator of the church’s synod in Scotland, said: “I’m delighted that the synod has shown a clear commitment to ethical investment. They have taken affirmative action against climate change and put people and the planet at the heart of their decision making. We hope and pray that other churches will feel able to respond ethically to the growing threat of catastrophic climate change.” | Reverend John Humphreys, moderator of the church’s synod in Scotland, said: “I’m delighted that the synod has shown a clear commitment to ethical investment. They have taken affirmative action against climate change and put people and the planet at the heart of their decision making. We hope and pray that other churches will feel able to respond ethically to the growing threat of catastrophic climate change.” |
| The URC joins a fast-growing divestment movement, begun by the global climate organisation 350.org. Since its beginning in 2010, more than 220 institutions have committed to divest including universities, pension funds and philanthropic foundations. | The URC joins a fast-growing divestment movement, begun by the global climate organisation 350.org. Since its beginning in 2010, more than 220 institutions have committed to divest including universities, pension funds and philanthropic foundations. |
| The divestment campaign targeting the URC emerged from a small group of its members. They say it was prompted by a recommendation from the World Council of Churches, which ruled out fossil fuel investments in July 2014. The umbrella organisation represents half a billion Christians and 345 member churches worldwide. | The divestment campaign targeting the URC emerged from a small group of its members. They say it was prompted by a recommendation from the World Council of Churches, which ruled out fossil fuel investments in July 2014. The umbrella organisation represents half a billion Christians and 345 member churches worldwide. |
| Mark Letcher, campaign co-ordinator for the faith-based divestment campaign at Bright Now, said the decision by the URC “marks a huge step forward for the UK church divestment campaign, which is gathering momentum as churches around the world disinvest. This decision demonstrates the church’s commitment to lead the urgently needed transition away from fossil fuels. We call on other UK churches to follow them”. | Mark Letcher, campaign co-ordinator for the faith-based divestment campaign at Bright Now, said the decision by the URC “marks a huge step forward for the UK church divestment campaign, which is gathering momentum as churches around the world disinvest. This decision demonstrates the church’s commitment to lead the urgently needed transition away from fossil fuels. We call on other UK churches to follow them”. |
| The Church of England (C of E) has set up a group to take advice on climate change and investment and has been reviewing their strategy for 18 months. | The Church of England (C of E) has set up a group to take advice on climate change and investment and has been reviewing their strategy for 18 months. |
| The diocese of Birmingham passed a motion on Sunday calling on the C of E to divest, following a similar motion passed by the Oxford diocese in November 2014. The C of E is due to report back later this year. | The diocese of Birmingham passed a motion on Sunday calling on the C of E to divest, following a similar motion passed by the Oxford diocese in November 2014. The C of E is due to report back later this year. |
| • This article was amended on 29 March 2015. An earlier version said that the United Reformed Church of Scotland represented 1,472 churches. The Scottish synod represents 50 churches. |