Methodist Church in Ireland fully divests from fossil fuels
We are pleased to share that five days before COP26, the Statutory Trustees received an update that The Methodist Church in Ireland’s investments, through Epworth Investment Management, are now fully divested of fossil fuels.
72 faith institutions, including 41 from the UK and Ireland have announced their divestment from fossil fuels in the largest ever joint divestment announcement by religious organisations.
Care of creation is part of our calling and responsibility as disciples. Church Councils are required to consider environmental impact as a regular agenda item and many across the Connexion are rightly concerned about these matters. Therefore, the Trustees wanted to share the key messages on the Methodist Church in Ireland’s approach to ethical investment as widely as possible.
Epworth’s strapline is ‘Investing with Christian Ethics.’ Out of love for people and planet, Epworth seeks to carry on the legacy of Christian teaching. They, like us, seek to address the climate emergency, seek tax justice, end modern slavery, improve nutrition, and address all sorts of injustice around the world.
This follows advice received from the Methodist Church’s Joint Advisory Committee on the Ethics of Investment (JACEI) in April 2021, that no companies in the sector are currently aligned with the climate change targets set out by the 2015 Paris Accord.
For over three years, JACEI has been assessing companies in the oil and gas sector against the targets set by the Paris Accord using a number of metrics.
The Methodist Church in Ireland is also a member of the Church Investors Group (CIG) and the Institutional Investors Group on Climate Change (IIGCC), which provide investors with a collaborative platform for engagement with public policy–makers and the exchange of expertise on climate change issues.
David Hopley, who represents the Statutory Trustees on the Joint Advisory Committee on Ethical Investment which oversees all church investment commented:
“The committee determined that the slow pace of corporate change means that the oil and gas sector is failing to meet the standards set by the Paris Accord. After a full assessment, against up to 25 different metrics, it was concluded that Shell, along with its peers, is currently failing to play a substantial enough role in addressing the climate emergency.”
In addition, the Methodist Church in Ireland remains committed to the pursuit of eco-justice by continuing to support the work of Christian development agencies, supporting the work of international conservation and environmental agencies as appropriate and ensuring that all Church investments are socially, ethically and environmentally responsible, particularly in relation to the use of fossil fuels.