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UK News

CofE to vote on fossil fuel sell-off

by Aaron James

Today's the last day of the General Synod meeting in York, before the Anglican Church's governing body is re-elected.

Church Commissioners, who manage the Church's investment portfolio sold off £12m of investments in tar sands oil and coal investments in May, as part of its commitment to stewarding the environment and reversing climate change.

The Church of England has previously used its position as shareholders in companies such as BP and Shell to try and bring about better environmental practices.

The Church of England currently has around £6.7bn in investments, mostly in property.

Revd Canon Jonathan Ford, a synod member, told Premier: "There are two things here. One is the whole stance of the Church of England on the environment as a whole. And, then there's the specific point of whether we disinvest.

"Disinvesting I think is a foregone conclusion, but one of the great failures of the environmental debate is that disinvesting in fossil fuels is actually a very small part of this."

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