C016 (Climate Change - Carbon-Intensive Lending)

House of Bishops Message #200

The House of Bishops informs the House of Deputies that on Jul 9, 2022 it considered resolution C016 (Climate Change - Carbon-Intensive Lending). The house acted to:

Adopt


Resolved, the House of Deputies concurring,

That the 80th General Convention of The Episcopal Church direct the Executive Council (Domestic & Foreign Missionary Society aka DFMS) and its Committee on Corporate Social Responsibility (CCSR), in conjunction with the Church Pension Fund (CPF), to establish and coordinate shareholder strategy addressing Carbon-Intensive Lending by U.S. Banks and other financial lending institutions; and be it further

Resolved, That the CCSR and CPF identify banks and financial lending institutions within the DFMS and CPF portfolios that are carbon-intensive lenders and initiate the appropriate shareholder strategy with these institutions to slow global warming; and be it further

Resolved, That the General Convention supports joint efforts with the Church of England National Investing Bodies (NIBs) in achieving the goals of the Paris Climate Agreement; and be it further

Resolved, That the General Convention make this coordination a priority for the triennium under the Episcopal Church’s Covenant for the Care of Creation by authorizing reasonable costs to be treated as investment management expenses.