Small logo Subscribe to leading news on impact investing. Learn More
The Brief Originals Dealflow Signals The Impact Alpha Impact Voices Podcasts Agents of Impact Open
What's Next Capital on the Frontier Measure Better Investing in Racial Equity Beyond Trade-offs Impact en las Americas New Revivalists
Local and Inclusive Climate Finance Catalytic Capital Frontier Finance Best Practices Geographies
Slack Agent of Impact Calls Events Contribute
The Archive ImpactSpace The Accelerator Selection Tool Network Map
About Us FAQ Calendar Pricing and Payment Policy Privacy Policy Terms of Service Agreement Contact Us
Locavesting Entrepreneurship Gender Smart Return on Inclusion Good Jobs Creative economy Opportunity Zones Investing in place Housing New Schooled Well Being People on the Move Faith and investing Inclusive Fintech
Clean Energy Farmer Finance Soil Wealth Conservation Finance Financing Fish
Innovative Finance
Personal Finance Impact Management
Africa Asia Europe Latin America Middle East Oceania/Australia China Canada India United Kingdom United States
Subscribe
Features
Series
Themes
Community
Data
Subscribe Log In
More

Catholic institutions commit to divesting fossil fuels and investing in climate solutions



ImpactAlpha, June 22The Vatican’s call last week urging Catholic congregations to divest from fossil fuels came in a 225-page manual meant to provide practical steps for implementing Pope Francis’ 2015 encyclical on climate change.

‘Journeying Towards Care For Our Common Home’ calls for the world’s 1.2 billion Catholics to “shun companies that are harmful to human or social ecology, such as abortion and armaments, and to the environment, such as fossil fuels.” The manual also called for “stringent monitoring” to prevent air, soil and water contamination.

  • Climate solutions. More than a dozen congregations of Dominican sisters last week announced a pooled investment of $46.6 million to seed two new Climate Solutions Funds managed by Morgan Stanley Investment Management. The funds target clean energy and energy efficiency as well as the needs of communities impacted by climate change. The private fund closed this spring with $110 million. Other Catholic institutions, including the Franciscan Sisters of Mary, which allocated 5% of its investment capital, backed a public version of the climate fund that has raised another $20 million.
  • Catholic pledges. Georgetown University, a Jesuit school, pledged in February to divest from fossil fuels and invest in renewable energy projects. In May, more than 20 Catholic institutions joined a faith-based divestment pledge. The Catholic Impact Investing Collaborative, which includes some of the Dominican congregations, now has 21 U.S. and European signatories to its impact investing pledge, representing $40 billion in assets.

You might also like...