03 December 2009
Methodist Church using investments to fight climate change
The Methodist Church's investment arm has outlined how its
investments reflect Methodist teaching on the environment and take
forward the fight against climate change. It aims to 'create and
manage portfolios with a carbon footprint that is relatively low
and measurably declining.'
'The new policy explains how we will encourage companies to limit
and reduce greenhouse gas emissions,' said Bill Seddon, Chief
Executive of the Central Finance Board of the Methodist Church. 'We
will also look for better disclosure of emissions, including those
produced from a company's supply chains.'
The policy builds on the CFB's work on climate change over many
years. It has long been a signatory of the Climate Disclosure
Project, is a founder member of the Institutional Investor Group on
Climate Change and works with other churches through the Church
Investors Group. It regularly asks companies to disclose greenhouse
gas emissions. 'We are now looking for action to accelerate the
reduction of those emissions,' said Mr Seddon.
The new policy helps to integrate church investing with church
teaching, most recently expressed in a report entitled 'Hope in
God's future'.
Steve Hucklesby, Methodist Church Policy Adviser, welcomed the
CFB's approach: 'We are delighted that the CFB has adopted this
policy. Climate change threatens to cause irreversible damage to
the planet's eco-system causing suffering to millions of people
over the coming decades. It is vital that governments commit to
massively reducing greenhouse gas emissions at the Copenhagen
Summit, but we should not just leave it to them. We can all play a
part and companies also have a responsibility to act. With this
policy, the church will also be making its voice heard in
boardrooms.'
Tackling climate change issues through an investment policy will
not always be straightforward. 'We know we will not always get it
right,' said Mr Seddon, 'but the Methodist Church will always seek
to act as a responsible investor.'
Note:
Ben Bradley, a member of the Methodist Church Connexional Team, is
one of a group of cyclists riding to the Copenhagen summit. You can
follow his progress on his weblog here.