However, the motion stopped short of calling on members to vote for a complete disinvestment of the Church's financial portfolio in all fossil fuel companies after the its Ethical Investment Advisory Group (EIAG) decided that this was not the "right ethical approach" for the Church's three National Investing Bodies (NIBs).
Bishop Nick Holtam, the Church's lead Bishop on the environment, said that he very much welcomed the policy, noting that "it marks the start of a process of divestment as well as engagement with fossil fuel companies and better aligns the Church's investment practice with its belief, theology and practice."
He also observed that with climate change happening rapidly: "I therefore particularly welcome the commitment to regularly review the policy recommendations in the light of our knowledge and experience."
Members also backed a call for world leaders to seek to limit the global rise in average temperatures to a maximum of 2 C - widely considered to be the threshold above which the impacts of climate change will be the most severe.
The motion on combating climate change, the Paris climate change conference and the mission of the Church, included a pledge to draw attention to an initiative to pray and fast for the success of the Paris talks.
Speaking during the debate, the Archbishop of Canterbury Justin Welby called on the Church to look outwards to tackle climate change.
Archbishop Justin said: "We have unrivalled access to networks around the world. How are we going to use them and look beyond our own boundaries as the Church of England to draw in the resources of the whole Communion? This is a moment not for just looking inwards."
Negotiators from more than 190 nations will gather in Paris in December to discuss a new global agreement on climate change aimed at limiting greenhouse gas emissions from 2020 when current commitments run out.
