12 December 2016
“It is becoming increasingly clear that profiting from companies whose actions threaten the destruction of life on a titanic scale is no longer morally acceptable," says Christian Aid.
Responding to the news that institutions and individuals controlling $5.197 trillion in assets have pledged to divest from fossil fuels, Christian Aid’s Head of Private Sector Engagement, Ken Boyce said:
“It is becoming increasingly clear that profiting from companies whose actions threaten the destruction of life on a titanic scale is no longer morally acceptable. It’s encouraging to see that organisations which want to be responsible members of a future society are recognising this fact and refusing to invest their assets in projects which endanger the safety of our planetary home.
“With Donald Trump potentially appointing Exxon Mobil CEO Rex Tillerson as Secretary of State, it’s great to see global climate leadership from investors showing the world the kind of actions that need to be taken.
“That’s why Christian Aid has launched the Big Shift campaign, urging UK Banks to move customer’s money out of dirty energy. Christian Aid analysis has revealed that UK High Street banks currently have no published plans in place to align their investments with the goals of the Paris Agreement of keeping global temperature rise to well below 2 degrees.
“We’re calling on the public to write to their bank demanding that their savings, which are managed on their behalf, are responsibly invested.”
Notes to Editors:
1. In September Christian Aid announced that 3,500 churches had ditched fossil fuels and signed up for renewable electricity. Many of these have come through the Big Church Switch scheme supported by the Church of England. For more information visit www.bigchurchswitch.org.uk.
2. Christian Aid works in some of the world's poorest communities in around 40 countries at any one time. We act where there is great need, regardless of religion, helping people to live a full life, free from poverty. We provide urgent, practical and effective assistance in tackling the root causes of poverty as well as its effects.
3. Christian Aid’s core belief is that the world can and must be changed so that poverty is ended: this is what we stand for. Everything we do is about ending poverty and injustice: swiftly, effectively, sustainably. Our strategy document Partnership for Change (http://www.christianaid.org.uk/images/partnership-for-change-summary.pdf) explains how we set about this task.
4. Christian Aid is a member of the ACT Alliance, a global coalition of more than 130 churches and church-related organisations that work together in humanitarian assistance, advocacy and development. Further details at http://actalliance.org