Scotland's National Catholic magazine

Scottish Church to end investment in oil companies

All eight Catholic dioceses in Scotland have announced they will no longer hold shares in fossil fuel focused corporations.

Scottish bishops made the pledge as part of a multi-faith announcement that includes 72 faith groups with more than £3 billion combined assets.

Bishop Bill Nolan of Galloway said the bishops had decided to act now, days before the start of the UN COP26 conference on climate change in Glasgow, to show that the status quo is not acceptable.

“Given the harm that the production and consumption of fossil fuels is causing to the environment and to populations in low-income countries, it was not right to profit from investment in these companies,” he said. “Disinvestment is a sign that justice demands that we must move away from fossil fuels.”

Alistair Dutton, Director of Scottish Catholic International Aid Fund said he was delighted at the news. 

“The announcement in the week before the COP Climate summit begins in Glasgow adds even more momentum to the groundswell of public opinion that we must urgently tackle the climate emergency,” he said. 

Jill Kent, Chair of Justice & Peace Scotland, said that the  commitment would  encourage ‘Catholics everywhere to take action to protect the environment for future generations’.

Caption: A student holds a poster at St. Conval’s Primary School, Glasgow while learning about climate change. (CNS photo/Russell Cheyne, Reuters)

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