Saturday, February 1, 2020

Church of England launches first global index aligned to the Paris accord in push to address ‘climate emergency’

From Ontario-

The Church of England Pension Board, overseer of the £2.8bn retirement savings pot for the Anglican clergy, will on Thursday launch a passive index aligned with the Paris climate goals on the London Stock Exchange.

The church will invest an initial £600m in the FTSE TPI Climate Transition Index which follows calls from Mark Carney, the outgoing governor of the Bank of England, for pension funds to tackle the financial risk of climate change.

Through its £12bn endowment and investment funds, the Church of England has become a powerful international advocate for sustainable investment and better governance standards. It immediately sold its shares in Brazilian miner Vale after a dam collapse in Brazil that killed more than 200 people, while also ridding its investment portfolio of thermal coal and tar sands.
Starting in 2023, the church will also sell shares in other fossil fuel companies that are slow to respond to global warming.

More here-

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