After years of shareholder engagement on climate concerns, the Committee on Mission Responsibility Through Investment (MRTI) is recommending that the 227th General Assembly approve divestment from ConocoPhillips and Duke Energy.
Katie Carter, director of Faith-Based Investing and Shareholder Engagement with the PC(USA), said both companies received the lowest scores in the guideline metric, with low marks over the past two years on climate and environmental impact, particularly in affected communities.
COM-001 advises GA to direct “MRTI to continue engaging companies identified by Climate Action 100+ that are a) headquartered in the United States, b) held by PC(USA) investing agencies, and c) identified by MRTI for engagement in the 2026 and 2027 proxy seasons; and to report back to the 228th General Assembly (2028) with possible divestment recommendations.” The overture also requests adding “AES and EOG Resources to the list of Climate Action 100+ companies previously identified by MRTI for this focused engagement.”
“We serve to bridge social witness policy from (the) General Assembly with the legal responsibility of our investing agencies,” said Carter.
The decision to divest from ConocoPhillips and Duke Energy was made by MRTI’s 13-member committee, which includes elected members from the Advocacy Committee for Women and Gender Justice, the Advisory Committee on Social Witness Policy, the Advocacy Committee for LGBTQIA+ Equity, the Racial Equity Advocacy Committee, and three at-large representatives.
Related reading: “Why fossil fuel divestment is back before the General Assembly” by Fred Milligan, The Creation Action Network of Presbyterian Young Adults and Presbyterians for Earth Care
“We do not take this lightly. Our goal is for these and other companies to change harmful practices. We could re-evaluate these two companies in four years and change our decision,” said Carter.
Under long-standing Presbyterian policy, divestment is considered a final step when corporate engagement fails to produce meaningful change. The recommendation would place both companies on the denomination’s Divestment/Proscription List, prohibiting further investment until they meet the church’s environmental standards.
“MRTI takes seriously both community impacts as well as broader systemic impacts from these companies on the environment,” Carter said. “The divestment recommendations for these two companies are due primarily to a lack of policy and practice around addressing their increase in greenhouse gas emissions and continued fossil fuel development and reliance.”
Related reading: “MRTI adds 10 fossil fuel companies, four countries to divestment list” by Gregg Brekke, Outlook reporting
The MRTI recommendation comes as the denomination considers broader action on fossil fuels. OVT-34, from the Presbytery of Susquehanna Valley, asks the PC(USA) to stop investing in all fossil fuel companies by 2030 and to stand by communities affected by climate injustice.
The 227th General Assembly’s decision will signal how far – and how fast – the church is willing to act on its climate commitments.
