A029 Divest from Fossil Fuels

Final Status: Concurred

Resolved, That the 81st General Convention express appreciation that the Investment Committee of Executive Council has acted responsibly to implement General Convention resolution 2015-C045, calling for divestment of fossil fuel companies from the investment portfolio of the Domestic and Foreign Missionary Society (DFMS) and for reinvestment of DFMS assets in clean energy alternatives; and be it further

Resolved, That, having learned that the Church Commissioners of the Church of England and, separately, the Church of England Pensions Board announced on June 22, 2023 that each will divest from all fossil fuel investments by the end of 2023, and noting that more than eight years have passed since the adoption of resolution 2015-C045, this General Convention direct that any and all investments in companies in fossil fuel industries remaining in the DFMS portfolio be sold by December 31, 2024; and be it further

Resolved, That all institutional investors across The Episcopal Church be requested to take note of the decisions of General Convention that DFMS is (a) to divest fully and finally from all companies in fossil fuel industries by December 31, 2024, and (b) to reinvest divested fossil fuel company assets in clean energy alternatives, and that all such institutional investors be encouraged to adopt the same target for full and final divestment of such fossil fuel company investments and also to reinvest such assets in clean energy alternatives.