The Diocese of Salford has announced that it is to divest from BP PLC and Shell PLC, ending their direct investment in fossil fuels.
In a statement released the Diocese said
The Diocese our investments are guided by the principle of stewardship, putting our care for people and our common home at the centre of all that we do.
They added:
“We are committed to being a responsible and active investor, using our influence to challenge companies to set ambitious targets and make the lasting change we need. As part of this commitment, we also regularly review our investments monitoring our impact and responding to changing landscapes.
In recent weeks it has become clear that both BP PLC and Shell PLC have altered their stance and are no longer ambitious enough in their decarbonisation pathways and transition plans. We would be failing in our duty to our common home and our brothers and sisters, if we decided not to act.
We must take a stand against companies that do not align with our principles and that put their profits ahead of the common good. We will therefore divest from both companies by the end of 2023.”
The decision ends their direct investment in fossil fuel production.
We will continue to use our voice to champion for dialogue, change, and action.
