Today 62 faith institutions announced their divestment from fossil fuel companies, sending a strong signal to negotiators at the UN climate summit in Brazil on the urgent need for fossil fuel phase out, given the harmful climate, biodiversity and human rights impacts of extracting, transporting and burning fossil fuels.

Today’s list of divesting institutions includes five Catholic dioceses (four in Italy and one in Canada), Catholic religious orders in France, Belgium, Germany, Austria, Switzerland, the Netherlands, the UK and the US, Catholic and Protestant banks in Germany and 42 members of the Arbeitskreis Kirchlicher Investoren (AKI), a network of institutional investors in the German Protestant Church. A full list of divesting institutions is here.

For the first time, a Catholic diocese in Canada has announced its divestment from fossil fuel companies. Its decision is especially significant as Canada – with the US, Australia and Norway – is among those most responsible for fossil fuel expansion since the Paris Agreement. Together, these four countries increased fossil fuel production by nearly 40% between 2015 and 2024, while production in the rest of the world combined fell by 2% during the same period.

In Italy, which has been hit by extreme heat, wildfires and floods in recent months, the calls for divestment from numerous Catholic bishops and the Community of the Diaconate are especially significant. They provide clear evidence of the strong support for fossil fuel phase out within the Catholic Church in Italy.

With support from Christians for Future, Church institutions in Germany feature strongly in the announcement, including 42 members of the Arbeitskreis Kirchlicher Investoren (AKI) – among them the Protestant Church in Germany and the two church cooperative banks, Evangelische Bank and Bank für Kirche und Diakonie, which announce that they base their investments on their joint guidelines with exclusion criteria for coal and unconventional oil and gas. In the Catholic Church, the Jesuit Central European Province (covering Germany, Austria, Switzerland, Lithuania and Latvia), Pax-Bank für Kirche und Caritas and Steyler Bank are today announcing full divestment from fossil fuel companies.

During his address last month at the Raising Hope Conference, Pope Leo XIV renewed his call for courageous and coordinated climate action, urging institutions and citizens alike to take responsibility for shaping a just future. “Everyone in society, through non-governmental organizations and advocacy groups, must put pressure on governments to develop and implement more rigorous regulations, procedures and controls.” 

His words echo the strong call from Church leaders across the Global South. In July, Catholic bishops from Africa, Asia, Latin America, and the Caribbean issued a joint appeal ahead of COP30, urging an end to fossil fuels and transformative action grounded in dignity, solidarity, and justice. “Abandoning fossil fuels is not only necessary to reduce emissions, but also to repair an ecological and moral debt to the Global South,” they stated. The World Council of Churches has described COP30 as a ‘kairos moment’ – a decisive time – that must centre the voices of Indigenous peoples, young people and frontline communities.

Globally, more than 1,700 institutions, with combined assets of over $40 trillion, have made some form of fossil fuel divestment commitment. Faith groups have led the way, with more than 600 faith institutions around the world making divestment commitments.

Religious institutions manage a combined $3 trillion of investments globally. As well as divesting from fossil fuels, faith communities are calling on governments and banks to phase out their support for fossil fuels and to scale up investment in clean energy. More than 600 faith institutions have supported calls for a Fossil Fuel Non-Proliferation Treaty.

Faith institutions ending fossil fuel investments send a strong signal to national governments at COP30, the UN climate negotiations in Brazil. While the Nationally Determined Contributions (NDCs) pledged by global governments continue to fall short, people of faith across the world are taking action through the People’s Determined Contributions (PDCs).

The leadership of faith groups adds to the growing calls to bring an end to the fossil fuel era, in contrast to the actions of major oil and gas companies. In recent weeks, a Paris court has ruled that French oil giant TotalEnergies misled consumers by claiming to be a “major player in the energy transition”, while continuing to produce more fossil fuels. Total is building the vast East Africa Crude Oil Pipeline (EACOP) across Uganda and Tanzania, which would worsen the climate emergency, endanger vulnerable communities and cause significant harm to ecosystems. The company has also faced criticism over its decision to restart the controversial Mozambique LNG project, despite the Netherlands launching an investigation into a massacre at the Mozambique gas plant.

A new report from Urgewald has shown that the fossil fuel industry is planning 33% more short-term expansion than in 2021, the year in which the International Energy Agency (IEA) stated that no new oil and gas fields are necessary to meet demand in a 1.5°C world. The report highlights ExxonMobil, Chevron, CNPC and Petrobras plans to drill for oil and gas in an ecologically sensitive area of the Amazon River, after permission was recently granted by the Brazilian government.

A full list of the 62 institutions divesting from fossil fuels and statements from leaders can be found here.

Relevant images available under Creative Commons license

• Diagrams done by LSM Comms Team 

Statements from leaders:

Cardinal Augusto Paolo Lojudice, Archbishop of Siena-Colle di Val d’Elsa-Montalcino and Bishop of Montepulciano-Chiusi-Pienza: “Our commitment to divestment is not only an economic decision, but also a moral one: a testimony that faith must illuminate every aspect of life, including the way we care for our Common Home. Decarbonization is an act of justice, of love for the poor, and of hope for future generations, as Pope Francis has shown us. This commitment also expresses our solidarity with those suffering the consequences of conflicts often fueled by dependence on fossil fuels, a theme addressed repeatedly by Pope Leo XIV, who called for a remedy for the fact that “our earth is falling into ruin”.”

Archbishop Paolo Giulietti, Archbishop of Lucca: “The Church’s commitment to a serious ecological conversion, aimed at protecting the earth and its creatures, also involves specific community decisions that improve institutional practices and inspire personal decisions. The progressive abandonment of fossil fuels and the use of renewable energy is one of these: in addition to the energy community project, we are also adhering to ‘fossil-free’ investment processes. I hope that our entire diocesan community will take steps towards sustainability that expresses respect for creation and love for the Creator.”

Dr Jörg Mayer, Chair of the Arbeitskreis Kirchlicher Investoren (AKI): “The members of the AKI, which includes the Protestant Church in Germany and the regional churches, are united by the conviction that investing money does not mean abdicating responsibility. On the contrary: By excluding companies that derive more than 5 percent of their revenues from the extraction of coal or from unconventional oil and gas production, they assume responsibility before God and humanity for what happens to their money. Coal, oil sands and oil shale are the fossil fuels with the worst greenhouse gas and environmental footprints. At AKI, the application of these exclusion criteria is supplemented by other instruments of ethical and sustainable investment, such as giving preference to companies that have committed to science-based climate targets. We also apply the formative tool of engagement, i.e., the active influence of investors on investment objects with the aim of improving companies’ climate management.”

Fr Thomas Hollweck SJ, Provincial of the Jesuits in Central Europe: “Climate change threatens our environment and life on our planet. Those particularly affected are the poorer people in the Global South, who contribute least to the causes of climate change and have only limited means to protect themselves. When we Jesuits commit ourselves to the preservation of creation, we in Europe in particular are called upon to take responsibility and stand alongside the people in the regions that are most affected. Divesting from fossil fuel energy production is a concrete contribution to this. Our financial investments, which we need for the education and retirement provision of members of the order, for example, already follow ethical guidelines. We will now tighten these guidelines and consistently divest from all fossil fuel investments. In this way, we are contributing to a future worth living – for us and for coming generations.”

Heike Hardell, Senior Church Councillor and Finance Director for the Evangelical Lutheran Church in North Germany (Nordkirche): “As the Evangelical Lutheran Church in North Germany, we take responsibility for ensuring that our financial resources are used in accordance with our mission – for the well-being of humanity and creation. Therefore, we have established clear exclusion criteria for investments in fossil fuels in our investment guidelines. By participating in the joint divestment announcement, we are publicly reaffirming what we have already enshrined in our financial practices: we do not invest in the destruction of creation, but in its preservation. As a Church, we also want to send a signal: for an economy that promotes life, for climate justice that knows no borders. Our actions are based on the belief that God has entrusted this earth to us – and that we are to shape it with responsibility and respect.”

Lorna Gold, Executive Director, Laudato Si’ Movement: “We celebrate today’s news that 62 faith institutions have joined the global divestment movement. Fossil fuel divestment is a moral imperative in response to the growing climate crisis, and we urge all Catholic institutions to join the movement. As global governments continue to fall short on climate action, it is hugely encouraging to see faith groups taking a lead by divesting from fossil fuel companies and scaling up investment in climate solutions.”

Revd Prof Dr Jerry Pillay, General Secretary of the World Council of Churches: “In this Kairos moment we are facing today, people of faith have to pay special attention not to be unconsciously or inadvertently complicit with the very root-causes fuelling the climate emergency. Verifying with our financial service providers that church assets are not used to finance fossil fuel expansion is a moral imperative towards children and future generations. We therefore encourage all people of good will to use tools available and verify that their banks, pension funds and insurances do no harm by supporting what is responsible for 90% of today’s CO2 emissions – fossil fuels. Let’s together accelerate the transition to renewable energies through responsible financial choices.”

Georg Sauerwein, Christians for Future, which coordinated the announcement in Germany: “Nearly all major Protestant institutions in Germany, but also Catholic institutions like the Jesuits, have joined this divestment announcement. Christians for Future views this as an important sign: In contrast to the current rollback of climate policies in politics, important Christian cornerstones of our society are still committed to a path of climate justice.”

Revd Dr Rachel Mash, Coordinator of Green Anglicans: “In the face of so much bad news, we celebrate the commitment of 62 faith institutions to divest. Christian climate scientist Dr Katharine Hayhoe reminds us that the giant boulder of climate action isn’t sitting at the bottom of an impossibly steep hill with only a few hands trying to push it up, but rather it is already at the top and rolling down the hill with millions of hands pushing it in the right direction – that gives us hope. It isn’t going fast enough yet, but for each new hand that joins, it will go a little faster: ‘Every action matters… Every choice matters.’ Investment is a significant action that faith communities can take.”

Agnes Richard, Canada Chapter Animator of Mouvement Laudato Si’ Movement – Canada: “Mouvement Laudato Si’ Movement – Canada is very happy to welcome the Archdiocese of Gatineau in the Province of Québec, Canada to those committed to promoting a clean energy economy. While the Archdiocese of Gatineau has completely divested their financial assets from fossil fuels nearly a decade ago, they are committed to maintaining this path far into the future. We need to be continually vigilant that business as usual from a highly polluting energy sector can no longer continue and must be discouraged at every opportunity.”

Guidelines for Ethically-Sustainable Investment in the German Protestant Church, p. 64:

“A climate-sensitive investment strategy for church investors follows Christian values in an impact-oriented approach. In such a strategy, investments need to be made in a socially-responsible manner that is compliant with social standards, as well as ecological and intergenerational justice, taking into account our Christian values. Stopping the climate crisis is, therefore, of particular importance, since all ethically-sustainable goals are equally affected: It is not only the respect and conservation of all non-human life that applies here, but also the responsibility towards the people who suffer the most through climate change, even though they contribute the least; so too is the responsibility towards future generations.”

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About Laudato Si’ Movement: Laudato Si’ Movement is a global movement of grassroots leaders and member organisations, mobilising and inspiring the Catholic community to achieve climate and ecological justice. (laudatosimovement.org)

About the World Council of Churches: The World Council of Churches is a fellowship of 356 Churches from more than 120 countries, representing over 600 million Christians worldwide. It includes most of the world’s Orthodox churches, scores of Anglican, Baptist, Lutheran, Methodist and Reformed churches, as well as many United and Independent churches. Read its Save Children’s Lives resource on responsible banking: https://oikoumene.org/resources/publications/save-childrens-lives

About Green Anglicans: Green Anglicans is a movement started by the Anglican Church of Southern Africa which is focused on empowering, encouraging and holding the church accountable in caring for the earth that God has graciously placed us in. (greenanglicans.org)

About GreenFaith: GreenFaith is a grassroots, international, multi-faith climate justice organization with staff in 12 countries across Africa, Asia, Europe and the Americas. GreenFaith campaigns to stop new fossil fuel development, to upscale renewable energy development in an ethical manner, and to pressure historic climate polluters – governments and corporations – to pay for the damage they have caused.  (greenfaith.org)

Contact: Susana Salguero, Laudato Si’ Movement: susana.salguero@laudatosimovement.org, +507 6090 5032