Divest the Vatican
Pope Francis has been a vocal supporter of the need for climate action, making him a respected leader to Catholics and people of other faiths alike. We know the Pope believes in the need to phase-out fossil fuels, so this week we’re joining 350.org in calling on him to divest. Taking the Vatican’s assets out of any coal, oil or gas investments would be consistent with Pope Francis’s call.
We don’t know exactly how much money the Vatican Bank has, but we do know that it managed an estimated $6.3 billion worth of assets on behalf of its customers, and made a profit of $76 million in 2014. That’s not much compared to the nearly $5 trillion invested in fossil fuel firms, but the bank’s divestment would send a strong moral signal and lead the way for other banks to do the same.
Photo: Marko Vombergar/ALETEIA