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The Church Commissioners and the Church of England Pensions Board said they have divested 12 million pounds ($18.42 million) from their investments in thermal coal and tar sands companies as part of an initiative aimed at promoting transition to a low carbon economy.

Ray Dhirani, corporate stewardship manager on sustainable finance at WWF-UK, said in response:

“WWF welcomes the leadership from the Church of England in selling its shares in coal and tar sands. The writing has been on the wall for so long and it is time for everyone to take the initiative and do what they can to combat climate change which is the single biggest challenge to people and nature.

“The science says 80 per cent of coal must stay in the ground, and we don’t have the luxury of time if we are to keep the global temperature rise to below 2 degrees C. This move by the Church sends a strong signal to government and business that much more can be and should be done to move towards a low carbon economy. Divestment addresses the urgency of the issue and opens up the political space needed for meaningful action around climate change.”

For further information, please contact:

Rebecca Pain, Business Media Communications Manager, rpain@wwf.org.uk 
T: +44 (0)1483 412303 | M: +44 (0)7971 149666

Notes to Editors. 

WWF is one of the world’s largest independent conservation organisations, with more than five million supporters and a global network active in more than one hundred countries. Through our engagement with the public, businesses and government, we focus on safeguarding the natural world, creating solutions to the most serious environmental issues facing our planet, so that people and nature thrive. Find out more about our work, past and present at wwf.org.uk.