Tuesday, October 19, 2021
Home Middle Column Pope's climate push at odds with U.S. Catholic oil investments

Pope’s climate push at odds with U.S. Catholic oil investments

-

Pope Francis heartened environmentalists around the world in June when he urged immediate action to save the planet from the effects of climate change, declaring that the use of “highly polluting fossil fuels needs to be progressively replaced without delay.”
But some of the largest American Catholic organizations have millions of dollars invested in energy companies, from hydraulic fracturing firms to oil sands producers, according to their own disclosures, through many portfolios intended to fund church operations and pay clergy salaries.
This discrepancy between the church’s leadership and its financial activities in the United States has prompted at least one significant review of investments. The Archdiocese of Chicago, America’s third largest by Catholic population, told Reuters it will reexamine its more than $100 million worth of fossil fuel investments.

- Advertisment -

Related Articles

Britain to Downgrade Renewables, Embrace Nuclear Power

In the wake of Britain's recent catastrophic wind drought, the Boris Johnson administration appears set to embrace nuclear power as their main strategy for...

It’s the 1970s all over again, and Joe Biden is the new Jimmy Carter

The result? Less fossil fuel production and higher prices — with lower-income Americans who can afford it the least penalized the most at the...

$5 trillion in 2021 global debt/equity raised (so far), “divest fossil fuels” in full swing, the world running short of natural gas/coal, and winter...

And yet, even with that freedom, I am at a loss to describe the mayhem going on in the energy world. It’s not that...