Pope Urges Investors to Pull Capital from Companies Not Committed to Environment

by Eva Fox October 11, 2020

Pope Urges Investors to Pull Capital from Companies Not Committed to Environment

Pope Francis on Saturday urged people to pull investments from companies that are not committed to protecting the environment--encouraging them to make the transition to caring for the environment. He also said that investing in companies that care about the environment will be a reward for their activities.

“One way to encourage this change is to lead companies towards the urgent need to commit to the integral care of our common home, excluding from investments companies that do not meet (these) parameters ... and rewarding those that (do),” he said.

Pope Francis spoke in a video message for an online event “Countdown Global Launch, A Call to Action on Climate Change,” according to Reuters. He said the pandemic highlighted the need to tackle the climate crisis and related, social challenges.

“The current economic system is unsustainable. We are faced with a moral imperative ... to rethink many things, he said, listing means of production, consumerism, waste, indifference to the poor, and harmful energy sources.


“Science tells us, every day with more precision, that we need to act urgently ... if we are to have any hope of avoiding radical and catastrophic climate change,” he said.

Pope Francis said that we need to act in 3 directions:

  • better education about the environment,
  • sustainable agriculture and
  • access to clean water, and a transition away from fossil fuels.

In June, a Vatican document urged Catholics to disinvest from the armaments and fossil fuel industries and to monitor companies in sectors such as mining for possible damage to the environment. 


In 2015, Pope Francis published Laudato si' encyclical where, among other things, he criticizes consumerism and irresponsible development, laments environmental degradation and global warming, and calls on all people in the world to take "swift and unified global action."

It was sent to the world's 5,000 Catholic bishops and 400,000 priests, calling for “swift and unified global action” on climate change, including through the adoption of renewable energy. In line with the Pope's calls, Catholic institutions around the world have begun the transition to renewable energy sources.

 



A north Queensland solar and storage project will install 8MWh of Tesla battery storage, in a bid to power the Townsville Catholic Diocese with 100% renewables.

In the future, Queensland-based commercial solar company GEM Energy is to supply Tesla battery systems with a total capacity of 5.1MW of solar power at 27 sites owned by the Townsville Catholic Education Office.

© 2020, Eva Fox. All rights reserved.

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Article edited by @SmokeyShorts, you can follow him on Twitter








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