Epworth Investment Management and its parent, the Central Finance Board of the Methodist Church, have sold their remaining holdings of oil and gas stocks.
The Methodist Church’s Joint Advisory Committee on the Ethics of Investment say that no companies in the sector are currently aligned with the climate change targets set out by the 2015 Paris Accord. Their holdings include Royal Dutch Shell.
David Palmer, Chief Executive, commented:
“The CFB and Epworth have long been committed to engaging with companies around issues that negatively impact the poor and God’s creation. The pace of change across the oil and gas sector has been inadequate and we welcome the recommendation of JACEI to disinvest.”