By the end of the year, the Church said it will have removed its £10.3bn endowment fund from all oil and gas companies unless they are in genuine alignment with limiting global temperatures to 1.5°C above pre-industrial levels.
BP, Ecopetrol, Eni, Equinor, ExxonMobil, Occidental Petroleum, Pemex, Repsol, Sasol, Shell and Total will be excluded from the Church’s investments, joining 20 others that were excluded in 2021.
The Church Commissioners for England, which manages the endowment fund, and the Pensions Board, said they had made their decision to divest after attempts to engage oil and gas majors on decarbonisation had failed.
Archbishop of Canterbury Justin Welby said: “The climate crisis threatens the planet we live on and people around the world who Jesus Christ calls us to love as our neighbours.
“It is our duty to protect God’s creation, and energy companies have a special responsibility to help us achieve the just transition to the low-carbon...