To: Committee of Management

Divest from Fossil Fuels: Unitarian Church of South Australia

Divest from Fossil Fuels: Unitarian Church of South Australia

Commit to divesting from Listed Investment Companies which hold shares in fossil fuel producing companies by the end of the 2014-15 financial year.

Why is this important?

In the interest of integrity, our Church's shareholdings need to be consistent with our principles.

With climate change threatening our planet so severely, continuing to profit from the production of fossil fuels is inconsistent with our commitment to "respect the interdependent web of all existence" (our 7th principle).

Given the devastating impact climate change is predicted to have on communities, particularly the poorest, profiting from fossil fuels is also arguably inconsistent with our 1st Principle - the inherent worth and dignity of every person; our 2nd Principle - justice, equity and compassion in human relations; and our 6th Principle - the goal of world community with peace, liberty, and justice for all.

In addition, there are strong financial arguments for divestment given that the pace at which the world is moving towards renewables leaves question marks over the long term prospects of fossil fuel producing companies.

Unitarian Church of South Australia, Osmond Terrace, Norwood, South Australia, Australia

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2017-05-07 18:04:27 -0400

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