More than 40 Catholic institutions such as churches and businesses are going to stop investing in fossil fuel industries. They plan to move their money out
It is a response to Pope Francis' call for divestment around the COP21 Paris agreement.
Christiana Figueres, the former UN climate chief said; "I hope to see more leaders like these 40 Catholic Institutions commit".
In the town of Assisi in Italy, the mayor of the town has announced its divestment from fossil fuels.
Alongside Assisi are two financial institutions who have announced their divestment. Germany's Bank für Kirche und Caritas eG (Bank for the Church and Caritas) is one of the first Catholic banks in the world to divest from fossil fuels. The bank, which has a balance sheet of €4.5 billion, is breaking from coal, tar sands oil, and oil shale because it is both morally imperative and fiscally responsible.
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