Tuesday, May 23, 2017

Fossil fuels fire up an impassioned debate over the Church of England's investments

From The Independent-

God certainly smiled on the Church of England’s investments last year. The Church Commissioners announced a total return of 17.1 per cent for 2016.

That sort of performance in the current climate looks like clear evidence of the divine.

It compares to a still very respectable 8.2 per cent the previous year. Over the past 30 years, the Church's funds have achieved a return of 9.6 per cent per annum. Mammon and God in alliance? Heaven forbid.

Joking aside, the fund had some help last year. The Brexit driven fall in the pound pushed the value of the UK stockmarket higher, chiefly because lots of the companies in it earn their money in dollars.

Which is where it gets interesting. Many of the dollar companies in the FTSE 100 are fossil fuel businesses. Should the Church really be investing in companies that produce material that could yet contribute to the destruction of life on a planet God gave to man in trust (if you follow the teachings of the Bible)?

More here-


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