The Bristol Diocesan Board of Finance (DBF) is divesting from fossil fuel companies and commits to its investments remaining free of holdings in coal, oil and gas in future.
The decision was made as part of the diocese's commitment to reach net zero carbon emissions by 2030. In November 2019, the Diocese of Bristol declared a climate emergency and became the first in the UK to commit to reach net zero carbon emissions by 2030.
The Climate Emergency declaration is supported by our Environment and Climate Justice Policy that covers energy use and generation, travel, investments, plastics, procurement and recycling, advocacy and campaigning and integrating care for the environment into prayer and worship. You can find out more about it here.
The Rt Rev'd Vivienne Faull, Bishop of Bristol said:
"In taking seriously our response to the climate emergency, I’m pleased to be able to share that the DBF has made this commitment to disinvest from fossil fuels. Care for creation is a core mark of mission for the Church, and this is an important step towards realising our net zero carbon aims."
The DBF has already divested its main investments from any company that derives more than 10% of its revenue from the extraction, production and/or refining of coal, oil and gas, and will fully divest by the end of 2021 and reinvest in alternative funds.
Image: the Diocese of Bristol's declaration of a climate emergency in Nov 2019.