'We must take a stand against companies that do not align with our principles and that put their profits ahead of the common good'
The Catholic church in Greater Manchester and Lancashire is selling shares it has in oil and gas giants BP and Shell, saying they are 'no longer ambitious enough' over the threat posed by global warming.
It's not known exactly how many shares the diocese has in BP and Shell, both public limited companies, or when they were acquired. The statement, in full, said: "As a diocese our investments are guided by the principle of stewardship, putting our care for people and our common home at the centre of all that we do.
"We must take a stand against companies that do not align with our principles and that put their profits ahead of the common good. We will therefore divest from both companies by the end of 2023. This ends our direct investment in fossil fuel production.Shell and BP were last month named among 12 oil firms accused of greenwashing over the amount of renewable and low-carbon energy they produce.
Shell and BP generated just 0.02 per cent and 0.17 per cent of energy from renewable sources in 2022 respectively, the analysis claimed. Meanwhile, the companies' investment in green energy was a fraction of that in fossil fuels over the year, found the study.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Heavy rain to hit Greater Manchester with 'unsettled' week forecastThunderstorms hit some parts of the UK overnight
Read more »
LIVE: Heavy rain hits Greater Manchester ahead of 36-hour Met Office warningForecasters say flooding is 'likely' in our region over the next few days
Read more »
Man held in prescription drugs crackdown in Greater ManchesterPolice raided a home in Salford following the seizure in August of drugs worth more than £2m.
Read more »
The hotels near Greater Manchester shortlisted for the boutique hotelier awardsSeveral hotels in the north are in the running for an award, including those in the Lake District and the Yorkshire Dales
Read more »
Cheapest house in Greater Manchester with huge potential for first-time buyerThe bargain £65,000 property would suit someone wanting to take on a renovation project for their first home
Read more »
Hour-by-hour Greater Manchester weather forecast as rain warning in placeThe yellow weather warning extends through until Wednesday evening
Read more »