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Sunday, July 7, 2013

Divestment by United Church of Christ of fossil fuel stocks in its pension funds because of climate change concerns

by the Associated Press, July 3, 2013

The United Church of Christ has become the first American religious body to vote to divest its pension funds and investments from fossil fuel companies because of climate change concerns. The Protestant denomination, which traces its origins to the Pilgrims in 1620 and has about 1.1 million members, voted on Monday to divest in stages over the next five years. But it left open the possibility of keeping some investments if the fossil fuel companies meet certain standards. The Rev. Jim Antal, who is president of the Massachusetts Conference of the United Church of Christ and who helped lead the divestment campaign, said it was motivated by the climate change campaign, which is also urging colleges and universities to divest from fossil fuel companies.

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