Global Divestment Announcement
For many years now we have been made aware of the negative impact on the climate caused by the burning of fossil fuels. Pope Francis in Laudato Si challenged everyone on this issue and a growing number of Faith communities, including Dioceses and Religious Congregations have been reducing and eliminating fossil fuel companies from their investment portfolios. On a regular basis for some years there has been a Global Divestment Announcement made and 17 May 2021 has been designated as such a date.
The Trustees together with Alex Davies [Investment Manager] have been engaged in the process of reducing our Institute investments in companies involved with fossil fuels and recently the following statement has been submitted to Operation Noah who organise the Global Announcement:
As Trustees of the Institute of Our Lady of Mercy in the UK, we have been working with our Investment Manager during the past 18 months and can now confirm that we will have fully divested from any holdings involved in Fossil Fuel activities in the near future and within five years at the latest.
“In the midst of increasing awareness and acknowledgment of our current Climate emergency, our attention is directed to the urgent need to cut carbon emissions drastically. This presents us with a clear moral imperative to which we are called to respond by divesting from Fossil Fuel holdings and joining the Global Divestment Announcement on 17 May 2021. We see this as a powerful witness to our faith and values in the context of the April Leaders’ Summit on Climate and the UK’s hosting of the COP26 in Glasgow in November 2021.”
[Sister Maura Mullen on behalf of the Trustees of the Institute of Our Lady of Mercy, UK]
The statement appeared in the latest edition of the ICN