The Church of England Takes on Climate Change—and Generates a 17 Percent Return

From Bloomberg-

President Donald Trump may have quit the Paris climate accord, but shareholders aren’t going to let carbon-producing U.S. ­companies off the hook. Witness the investor victory over Exxon ­Mobil Corp. management on May 31, a day before the Trump decision.

Over the Exxon board’s objections, almost two-thirds of shareholders voted for a proposal asking the company to provide a detailed report on how curbing climate change could affect its business. Leading the charge was the giant New York State Common Retirement Fund, which manages $192 billion and is a veteran activist. Its partner was a far smaller and lower-profile newcomer taking one of its first public stands in the U.S.: the Church of England.

Through a £7.9 billion ($10 billion) fund that finances the church’s mission activities, cathedral costs, and clergy pensions, the church has been quietly—and successfully—engaging with European companies in the energy and mining industries for the past few years. BP, BHP Billiton, and Royal Dutch Shell have all voluntarily adopted similar climate change steps to those sought at Exxon.

More here-

https://www.bloomberg.com/news/articles/2017-08-04/the-church-of-england-takes-on-climate-change-and-generates-a-17-percent-return