Bullitt-Jonas backs fossil fuel divestment at General Convention

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On the heels of a group of bishops from around the Anglican Communion supporting fossil fuel divestment, the Rev. Dr. Margaret Bullitt-Jonas, the Missioner for Creation Care in the Episcopal Diocese of Western Massachusetts, is calling for the Episcopal Church to divest from fossil fuels this summer at General Convention:

Regarding financial risk, a strong case can be made that divesting from fossil fuels is a responsible financial decision. Financial analysts have shown that the short-term financial impact of divestment is negligible (see, for instance, “Extracting Fossil Fuels from Your Portfolio”). The long-term financial impact of divestment may actually strengthen a portfolio, because the so-called “carbon bubble” could burst as climate disruption forces governments to limit the burning of fossil fuels and to put a steep price on carbon. Continuing to invest in fossil fuels could lead to financial loss as fossil fuel reserves lose value and become stranded assets.

That said, of all the arguments against divestment, the argument that earning top dollar takes precedence over any other value is the argument – especially when voiced by Christians – that most breaks my heart.

Define “fiduciary responsibility” as being faithful to the future and it makes no sense to invest in fossil fuels. Burning fossil fuels undermines any hope of a livable, healthy future for future generations, including our children and grandchildren.

I imagine a dystopian vision: a scorched and desolate Earth, devoid of myriad species that have long-since gone extinct; billions of refugees on the move, searching for food and fresh water; extreme storms and waves of heat; local, regional, and national conflicts erupting over scarce resources; authoritarian governments crushing democracy in the name of national security. In such a world blighted by runaway climate change, will anybody who profited from fossil fuels look back with satisfaction on their investments?  Will the people who managed pension funds and endowments and kept investing in fossil fuels congratulate themselves on their fiduciary responsibility to their clients? We wrecked the Earth, but hey, no problem, we did the right thing – we made a few bucks!…

A wave of religious activism, including, in some cases, civil disobedience, is beginning to sweep the globe, as religious leaders and institutions increasingly proclaim that climate disruption is not just a scientific or economic or political issue, but also a moral issue. I ask you – is it ethical to ruin the world for our children and grandchildren and for generations yet unborn? Do we have no moral responsibility for the cascade of extinctions now underway among our brother and sister species, in large part because of climate change? Are we willing to stand idly by and devastate the lives of the poor, who suffer first and hardest from the effects of climate change? Are we willing to thumb our noses at our Creator, who entrusted the Earth to our care and to whom the Creation ultimately belongs (Psalm 24:1)? Will we refuse to bear witness to the Risen Christ, whose redemptive love embraces the whole Creation?

For more and more of us, thank God, the answer is No. We want to abide in God’s love. We want to be faithful to Jesus. We want the love that is pouring into our hearts through the Holy Spirit (Romans 5:5) to be manifest in how we treat each other and how we treat the Earth.

Recently the Church of England announced that it is divesting from two of the most polluting fuels, coal and tar sands. The World Council of Churches, the Unitarian Universalist Association, and the United Church of Christ have already announced that they are divesting from fossil fuels, as have a number of dioceses in the Anglican Communion and several dioceses in the Episcopal Church, including my own, the Diocese of Western Massachusetts.

Fossil fuel divestment by the Episcopal Church at this summer’s General Convention would send a powerful message that climate change is a moral issue. Divestment would also enlarge our capacity to make positive investments in renewable energy, such as sun and wind, and to help build a new, carbon-free economy.

In these perilous times, I pray that the Holy Spirit will transform every member of the Episcopal Church by the renewing of our mind, and will help us to discern what is the will of God (Romans 12:2).

 

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