Papal Encyclical Reinforces Moral Impetus to the Growing Movement for Fossil Fuel Divestment

Fossil fuel divestment campaigners expect the release of Pope Francis' climate encyclical this week to add momentum and moral weight to the fast growing movement, as well as help expand its reach in faith communities around the world.

In the encyclical, to be released on Thursday in six languages, the Pope is expected to call for an ethical and economic revolution to prevent catastrophic climate change and growing inequality. With 1.2 billion Catholics in the world, and the Pope's electrifying reputation, the encyclical is already causing major shockwaves even before its release.

Robert Massie, Episcopal priest, and long-time activist and expert on climate finance says: "In an action both simple and bold, Pope Francis will pierce humanity's blindness to the realities of modern life. At a vital moment in world history, he is calling on us to halt our wanton destruction of people and planet and move decisively to a global economy that is just, compassionate, and sustainable."

Over the past months, dozens of religious institutions have divested from coal, oil and gas companies or endorsed the effort, including the World Council of Churches representing half a billion Christians in 150 countries. In May 2015, the Church of England announced it had sold PS12m in thermal coal and tar sands. In total, more than 220 institutions have committed to divest from fossil fuels with faith institutions making up the biggest segment.

Rev. Fletcher Harper, Executive Director of GreenFaith, an interfaith environmental group, says "The Pope's encyclical will be a powerful game-changer. It will make clear that the fossil fuel industry is a devastation. It will be clear that climate change is a crime against life. It will be eloquent about the fact that if our leaders have a shred of humanity in them, they need to reach a strong deal in Paris. And it will affirm that profiting from an industry that's destroying the planet is flat out wrong."

Ellie Roberts, UK church divestment campaigner at Christian charity Operation Noah says: "The coming encyclical will send a strong message about the Catholic Church's commitment to tackle the climate crisis. We hope this will inspire Catholic communities around the world to look at how their own investments might be financing climate change, and to commit to disinvesting from fossil fuels as a matter of faith. This is essential for building the political will we need for governments to produce a strong climate deal in Paris at the end of this year."

Gunnela Hahn, head of responsible investment at the Church of Sweden that has already divested from coal, oil and gas and in turn increased investments in renewable energy, says: "To act for a transition to a more sustainable and equitable world we need to look at the impacts we have on the climate as a church. One is how our financial resources are used. We want to inspire other asset owners and the financial industry as a whole to redirect their assets into climate solutions. We are confident that this can be achieved with the same, or even enhanced, financial returns, and it makes no sense to postpone what we all know is coming, a transition of society to a low-carbon economy."