Divest for Sustainability,
Invest in our Common Home
We keep track of Catholic investments in financial institutions and companies and strategize to call on local financial institutions to divest from industries that harm the environment, and invest in sustainability.
OVERVIEW
What is divestment?
In the context of the climate crisis, it is centered on pressuring companies to shift their financial instruments away from endeavors related to the extraction and use of fossil fuels, especially coal.
Why divest?
1
2
Reduction of greenhouse gas (GHG) emissions
Fossil fuels are stranded assets because of its unsustainability
3
4
Renewable energy is cost-competitive worlwide
A moral obligation and responsibility to care for our common home
1
2
Reduction of greenhouse gas (GHG) emissions
Fossil fuels are stranded assets because of its unsustainability
3
4
Renewable energy is cost-competitive worlwide
A moral obligation and responsibility to care for our common home
1
Reduction of greenhouse gas (GHG) emissions
2
Fossil fuels are stranded assets because of its unsustainability
3
Renewable energy is cost-competitive worlwide
4
A moral obligation and responsibility to care for our common home
By the Numbers
Despite being most at risk, the country continues to depend on coal for our energy needs. The biggest banking institutions in the country provide up to 70% of the funding for big coal companies.
WITHDRAW FROM COAL:
END FOSSIL FUELS
Withdraw From Coal: End Fossil Fuels is coordinated by a coalition of Filipino civil society groups, environmental advocates, and faith-based organizations. Living Laudato Si’ Philippines is among these groups.
We urge Philippines banks to stop funding fossil fuels to help solve the climate crisis.
In Action
Divestment is possible. More and more stakeholders worldwide are recognizing the moral and financial obligation to phase out coal from their portfolios to adequately address the climate emergency.
As of December 2019, over USD 12 trillion has been divested from coal, oil, and natural gas through the commitment of 1200 institutions and 58 thousand individuals for more sustainable use of their funds.
There has been a 22000% increase in divested assets from fossil fuels in the past six years—the most rapid growth of the divestment movement in history.
French insurer AXA established a benchmark for best climate policies with zero coal tolerance, which excludes 400 coal-exposed companies in its finance portfolio, and with time-bound plans to phase out its coal exposure.
The European Investment Bank, the world’s largest public bank, committed to phase out its multi-billion financing for coal, oil, and natural gas after 2021.
Fossil fuel divestment does not just apply to corporations and banks. In fact, out of the 1200 institutions that have committed to withdraw from dirty energy, 30 percent of them are faith-based institutions.
Nearly 150 of these are Catholic institutions—dioceses, churches, educational institutions, philanthropic foundations, and non-government organizations in various degrees. Four of them are from the Philippines.
Participate
Little actions, big outcomes!
- Switching your energy source from fossil fuels (i.e. coal, oil, natural gas) to renewable energy (i.e. solar, hydro, wind, biomass, geothermal)
- Reducing energy consumption;
- Using energy-efficient appliances and equipment;
- More efficient and less wasteful water consumption;
- Reducing purchase and consumption of products, goods, and services to reduce generated waste;
- Reusing and/or recycling materials;
- Riding in public transportation;
- Riding in non-motorized transport (e.g. bicycles) or walking (for short distances);
- Carpooling;
- Improving the ventilation at home or work;
- Wearing attire more suitable for weather or climate experienced in your area;
- Tree-planting and growing;
- Growing your own food through backyard gardening or single-plant pots;
- Using your own food and water containers and reusable utensils; and
- Using your own bags when purchasing goods.
- Switching your energy source from fossil fuels (i.e. coal, oil, natural gas) to renewable energy (i.e. solar, hydro, wind, biomass, geothermal)
- Reducing energy consumption;
- Using energy-efficient appliances and equipment;
- More efficient and less wasteful water consumption;
- Reducing purchase and consumption of products, goods, and services to reduce generated waste;
- Reusing and/or recycling materials;
- Riding in public transportation;
- Riding in non-motorized transport (e.g. bicycles) or walking (for short distances);
- Carpooling;
- Improving the ventilation at home or work;
- Wearing attire more suitable for weather or climate experienced in your area;
- Tree-planting and growing;
- Growing your own food through backyard gardening or single-plant pots;
- Using your own food and water containers and reusable utensils; and
- Using your own bags when purchasing goods
DIVESTMENT EXECUTIVE COURSE
This course supports the Catholic Bishops’ Conference of the Philippines who is spearheading the local movement for divestment from fossil fuels. The bishops released a Pastoral Letter on Ecology in July 2019, urging local Catholic institutions to divest from “coal-fired power plants, mining companies and other destructive extractive projects”.
The course provides guidance for financial leaders of dioceses, congregations, schools, and other groups in facing the challenges of operationalizing divestment and finding alternative investments aligned with the responsibility to care for our common home. In addition to covering foundational principles, concepts and illustrative cases, the course will guide financial leaders in planning to introduce divestment and reinvestment into their financial practice.
#LS211
Nine (9) doable and effective ways on how to show our love and care to our common home
Laudato Si’ Schools
A framework based to be integrated in the strategic plan of Catholic schools.