The Presbyterian Outlook

News and Articles from the The Presbyterian Outlook

Register Login Donate Subscribe

Top Search/Contact Area

  • Be A Fan

  • Follow Us

  • Photos

  • Pin It!

    • Home
      • About us
      • Advertise with the Outlook
      • Submissions
    • Presbyterian Hub
      • Editorials
      • Outlook Features
      • Digital Issues
      • Editor’s viewpoints
      • What’s right?
      • About People
      • Calendar Check
    • News +
      Current Affairs
      • Outlook Reporting
      • Presbyterian News Service
      • Religion News Service
      • News from other sources
    • Ministry + Theology
      • InSights Opinions
      • Benedictory
      • Guest commentary
    • Faith + Culture
      • Book Reviews
      • Those with ears to hear (music reviews)
      • He/She Said
      • Movie Reviews
    • Ministry Resources
      • Outlook Standard Lessons
      • Outlook Horizons Studies
      • Looking into the lectionary
      • Bulletin Inserts
      • Webinars
      • Hymns
    • Outpost Blog
    • Classifieds
      • Classified advertising

    Fossil fuel divestment not recommended by MRTI

    January 28, 2016 by Leslie Scanlon 2 Comments

    The Mission Responsibility Through Investment (MRTI ) committee is recommending that the 2016 General Assembly of the Presbyterian Church (U.S.A.) call on companies to conduct their business in a way consistent with international efforts to limit global warming to no more than 2 degrees Celsius.

    Photo by CIFOR. CC 2.0.

    Photo by CIFOR. CC 2.0.

    But MRTI, which oversees the denomination’s socially responsible investment efforts, is not recommending that the PC(USA) divest yet its holdings from fossil fuel companies – the 200 publicly traded oil and gas companies from the Carbon Underground list. That position is sure to disappoint advocates of fossil fuel divestment, yet please those who think divestment is the wrong way to go. Already, overtures are heading towards the 2016 General Assembly in Portland advocating both for and against divestment, a clear indication that Presbyterians don’t agree on what’s the most effective way for people of faith to respond to the dangers of global warming.

    With some contending that climate change is both an environmental and a moral issue, this assembly will be asked to consider what role Presbyterians should play individually in trying to limit global warming – and what the denomination’s corporate witness should be.

    The Presbyterian Mission Agency Board will consider the MRTI recommendation when it meets in Louisville Feb. 3-5. What’s being recommended in the MRTI report could change if the board doesn’t agree with it.

    The PC(USA) recommendations come on the heels of a historic international accord that 195 nations reached at the United Nations Paris climate summit in December to lower greenhouse gas emissions.

    The MRTI proposed recommendations to the 2016 General Assembly don’t seek divestment from the denomination’s holdings in oil and gas companies, but call on “all corporations to increase their efforts to address climate change through vigorous action” on a number of fronts. For example, the assembly would ask businesses to:

    • Integrate management of climate change risks and opportunities into their business strategies. That strategy would include a commitment “to manage operations in a manner consistent with the internationally agreed upon goal of limiting warming to 2 degrees Celsius above pre-industrial levels and to pursue efforts to limit the temperature increase to 1.5 degrees Celsius above pre-industrial levels.”
    • In making business and investment decisions, set goals for reducing greenhouse gas emissions, use renewable energy sources and choose new technologies capable of reducing the company’s carbon footprint. Work in support of “cost-effective policy measures to mitigate climate change risks and support low carbon investments,” and be transparent about the company’s lobbying efforts and political spending.

    The recommendations also commend a number of PC(USA) entities for their initiatives, including:

    • The Presbyterian Foundation for providing to congregations, institutions and individual clients the option of selecting fossil free investment portfolios;
    • The Presbyterian Investment and Loan Program (PILP) for creating “restoring creation loans” for congregations trying to reduce their carbon footprints; and
    • The Board of Pensions for investigating a fossil free options for plan members participating in retirement savings plans.

    The MRTI recommendations encourage individuals, congregations and the PC(USA) to continue working together to reduce their carbon footprint.

    And the recommendations ask the assembly to direct MRTI to continue its process of engagement with all corporations, particularly with oil, gas and coal firms, and to report back to the 2018 assembly with divestment as a possible outcome if “significant changes” aren’t made through the process of engagement with MRTI and its ecumenical partners. In other words, don’t divest now – but maybe, if progress isn’t made, consider it down the road.

    MRTI is making recommendations now on climate change because the 2014 General Assembly referred to it an overture from the Presbytery of Boston seeking divestment. That overture – with concurrences from 11 other presbyteries and support from the advocacy group Fossil Free PCUSA– asked the General Assembly to instruct the Board of Pensions and the Presbyterian Foundation to stop investing in fossil fuel companies and to liquidate any investments it already held in those companies within five years. Instead of doing that, the assembly voted 469-110 to refer the overture to MRTI – and in response, MRTI now is making these recommendations.

    For the 2016 assembly, the Presbytery of San Francisco has submitted an overture seeking divestment from fossil fuel companies, and the Presbytery of New Covenant an overture calling for an alternative to divestment.

    The MRTI report states that it has continued to be involved in discussions with companies on climate change issues, participating in dialogues with companies and filing or co-filing shareholder resolutions. The companies involved included ExxonMobil, Chevron, Marathon Oil, Marathon Petroleum, Noble Energy, ConocoPhillips, Phillips 66, Ultra Petroleum and Hess Corporation, the report states.

    MRTI states that it works on these initiatives with ecumenical partners, including some which support divestment and others which do not.

    “We all agree that we must do something,” the report states. “The disagreement comes around this question: What is the most effective way to witness and accomplish change to the threat posed by climate change and our dependence on fossil fuels?”

    ShareShare on Facebook
    Facebook
    Tweet about this on Twitter
    Twitter
    Email to someone
    email
    Tagged With: fossil fuels

    Outlook Reporting Tags: fossil fuels/ More News - Homepage

    Comments

    1. Wilson Gregory from Lambertville, NJ says

      January 28, 2016 at 2:45 pm

      I think if the organization learned any thing from the Israel-BDS fever of Detroit it is that broad or universal type of divestments across the denomination, or other attempted punitive actions based upon ideology or politics is subject to the law of unintended consequences, and exposes the limitations of the legislative, adjudicative polity in place, with clear winners and losers and 50.1% plurality considered a super majority and case closed. So how is that working out so far? And frankly the denomination neither has the vitality, strength, or ability to process yet another near death experience. It is indeed far better to leave the matter as a personal or individual congregational option. if they so choose. There is that pesky matter of mutual forbearance. If we can process matters of sex and identity in such a way, corporate governance investment policy should be a no brainer.

      Getting back to economic reality. All these ‘green’ alternatives of wind/solar/renewables only work in a climate of oil above $70-100bbl. Which may not pertain for the next 20 years. if ever again. The costs associated with green technology cannot be sustained otherwise, apart from deep governmental subsidy and the money is simply not there. We are exporting oil, and the next wave in energy is lithium-ion battery technology transfer and storage, and maybe LNG, Elon Musk and Jeff Bazos will see to that.

      The PCUSA really need to address the grease fire consuming its own house and get beyond hating or attempting to punish Exon Mobil/Shell/Phillips, much like Walmart, simply because they are out of favor of the theological elites or they offend you on some personal level.

      Log in to Reply
    2. Mark And Diane Kenning from Fort Collins, CO says

      May 13, 2016 at 10:55 am

      Hey Abby and Dan! You can make a much more powerful statement – something that will really get the industry’s attention – by simply not using their products! Quit buying gas for your car or natural gas or electricity (most is generated by natural gas or (shudder) coal) for your home! That will hit them where it hurts – on their income statement – and will make a bigger impact than selling the relatively infinitesimal number of stock shares the denomination might own.

      Log in to Reply

    Leave a Reply Cancel reply

    You must be logged in to post a comment.

    Related Posts

    • LPTS women’s ordination anniversary celebration

      LOUISVILLE -- In some ways, the anniversaries of women's ordination that the Presbyterian Church (U.S.A.) is in the midst of celebrating this year -- 100 years for deacons, 75 years for elders, 50 years for ministers -- are momentous, historic events. And in other ways they are like a panorama…

    • Billy Graham brings his crusade to Louisville

      Speaking Thursday night, June 21, to a crowd of 37,500, the 82-year-old evangelist who's been revered for more than 50 years, spoke of the racial tension "smoldering underneath" American cities today. "The only answer to the race problem is love," Graham said -- and God is love. He later told…

    • Outlook reporter, art director honored by Associated Church Press

      Bailey won an honorable mention for best redesign. During the past year — his first with the magazine — he oversaw improvements in both the appearance and printing of The Outlook. Scanlon also received a first-place award for "professional resource" for an article she wrote for U. S. Catholic on…

    Current Issue

    • March 4, 2019
    • February 11, 2019
    • January 21, 2019
    • January 7, 2019
    • Subscribe
    • Give a Gift
    • Read Online
    • Most Commented
    • Most Popular
    • PC(USA), A Corporation: Everything you wanted to know, but were afraid to ask Confused, confused, confused. So many say they are confused by the octopus-like discussions involving the Presbyterian Church (U.S.A.) corporate structure. (Others...
    • Vision before structure: Presbyterian Mission Agency Board scrutinizes recommendations from other groups CINCINNATI – The Presbyterian Mission Agency Board is considering asking the 2018 General Assembly to take the next two years...
    • Presbyterian leaders clarify what’s at stake in debates over restructuring LOUISVILLE – While no blazing agreement was reached, participants in an April 8-9 conversation regarding the corporate structure of the...
    • Prayer for Pittsburgh Lord, we know your power, your promises and your presence, but on days like today when your chosen people are...
    • 2018 GA bulletin inserts What happened at the 223rd General Assembly? Post-GA bulletin inserts What will they hear? Who will tell them? Give your church members...
    • 2017 PC(USA) membership statistics released The Presbyterian Church (U.S.A) continues to lose members — with a decline of 67,714 members and the loss of 147...

    Keep the Faith

    Sign Up for Updates and Breaking News in your inbox

    Facebook

    Tweets by presoutlook
    Follow Us

    View Stories From

    • Presbyterian Hub
      • Editorials
      • Outlook Features
      • Digital Issues
      • Calendar Check
      • About People
        • Anniversaries
        • Ordinations
        • Retired
        • Deaths
        • Transitions
      • Archives
    • Faith + Culture
      • Book Reviews
      • Movie Reviews
      • He/She Said
    • Ministry + Theology
      • InSights Opinions
        • For Church Leaders
        • Faith Matters
        • Multichannel Church Report
        • #amen
        • Commentary
        • Benedictory
      • Liturgical Year
        • Advent
        • Lent

    The Latest:

    Mental health, small churches and hope — March 4, 2019

    February 22, 2019

    In New England, battling the opioid crisis with a mix of science and faith

    February 22, 2019

    Brian Blount, president of Union Presbyterian Seminary, serves scholars across North America

    February 22, 2019

  • Tweet With Us
  • Be A Facebook Fan
  • Our World in Photos
  • Pin With Us
  • CONTACT US:

    1 N. 5th St., Suite 500

    Richmond, VA 23219

    T: 800-446-6008F: 804-353-6369

    [email protected]

    Or ▶ Fill Out Our Contact Form

    © Copyright 2019 The Presbyterian Outlook. All Rights Reserved. Privacy Statement. Website Design by Poka Yoke Design

    • About us
    • Presbyterian Hub
    • Ministry Resources
    • Classifieds
    • Advertise with the Outlook
    • Submissions
    7ads6x98y