Catholic prelates have committed to divest their fund deposits of firms investing in
“dirty energy” such as coal plants, as a concrete response to Pope Francis’ encyclical letter on the environment “Laudato Si.”“They adopted it so they will divest…you divest from coal but you invest into renewable ,” Father Edwin Gariguez, executive secretary of the Catholic Bishops’ Conference of the Philippines National Secretariat for Social Action, Justice and Peace/Caritas Philippines, said.
“I challenged the body, we need to really find ways on how to live the Laudato Si as a Church in the Philippines,” he added. In a separate interview, San Carlos Bishop Gerardo Alminaza said the Philippine Bishops have been in the forefront of caring for the environment as this is an integral part of their discipleship or following the Lord.
The prelate said it was saddening that depositors and shareholders are not keen on asking where their money is invested and where their profits are coming from for as long as they don’t incur losses or that they grow richer from their investments.