Catholic church to make record divestment from fossil fuels

[Shadows]

More than 40 Catholic institutions are to announce the largest ever faith-based divestment from fossil fuels, on the anniversary of the death of St Francis of Assisi. The sum involved has not been disclosed but the volume of divesting groups is four times higher than a previous church record, and adds to a global divestment movement, led by investors worth $5.5tn. A spokesman for the €4.5bn German Church bank and Catholic relief organisation Caritas said that it was committing to divest from coal, tar sands and shale oil. In a symbolically charged move, the Italian town of Assisi will also shed all oil, coal and gas holdings the day before a visit by the Italian prime minister, Paolo Gentiloni, to mark St Francis’s feast day.

The origins of the latest church action lie in last year’s climate encyclical by Pope Francis – himself named after St Francis of Assisi – although the project was advanced by the Global Catholic Climate Movement.

https://www.theguardian.com/environment/2017/oct/03/catholic-church-to-make-record-divestment-from-fossil-fuels?CMP=share_btn_tw

[AtorBoltox]

Why do catholic institutions have investments in anything, let alone an industry as unethical as fossil fuels?

[Dr. Arch]

Why do catholic institutions have investments in anything, let alone an industry as unethical as fossil fuels?

[Mr. Reactionary]

Why do catholic institutions have investments in anything?

[MasterJedi]

Why do catholic institutions have investments in anything?

Because you can't house priests/nuns off of collections alone? You can't do any type of outreach program for the poor without money? Seems like fairly straightforward thing to do.

[Sprouts Farmers Market ✘]

^^
Why do universities have (billions of dollars in) investments in anything when they are already charging every student 60,000 a year?

[DC Al Fine]

Why do catholic institutions have investments in anything?

Because you can't house priests/nuns off of collections alone? You can't do any type of outreach program for the poor without money? Seems like fairly straightforward thing to do.

[Fight for Trump]

Why do catholic institutions have investments in anything?

Because you can't house priests/nuns off of collections alone? You can't do any type of outreach program for the poor without money? Seems like fairly straightforward thing to do.

For once you make a post that isn't terrible...

[I Will Not Be Wrong]

Why do catholic institutions have investments in anything?

Because you can't house priests/nuns off of collections alone? You can't do any type of outreach program for the poor without money? Seems like fairly straightforward thing to do.

For once you make a post that isn't terrible...

Get a job.

[Sprouts Farmers Market ✘]

Why do catholic institutions have investments in anything?

Because you can't house priests/nuns off of collections alone? You can't do any type of outreach program for the poor without money? Seems like fairly straightforward thing to do.

For once you make a post that isn't terrible...

Get a job.

[💥💥 brandon bro (he/him/his)]

^^
Why do universities have (billions of dollars in) investments in anything when they are already charging every student 60,000 a year?

Running a university, especially one conducting world-class research (or really any type of research), is ridiculously expensive. $60K per student per year is pitifully small for the types of services that universities run (paying faculty, administrators, staff, maintaining facilities, accreditations, providing services to students and the community, etc).

[Fight for Trump]

^^
Why do universities have (billions of dollars in) investments in anything when they are already charging every student 60,000 a year?

Running a university, especially one conducting world-class research (or really any type of research), is ridiculously expensive. $60K per student per year is pitifully small for the types of services that universities run (paying faculty, administrators, staff, maintaining facilities, accreditations, providing services to students and the community, etc).

And caring for the poor isn't?

[MasterJedi]

^^
Why do universities have (billions of dollars in) investments in anything when they are already charging every student 60,000 a year?

Running a university, especially one conducting world-class research (or really any type of research), is ridiculously expensive. $60K per student per year is pitifully small for the types of services that universities run (paying faculty, administrators, staff, maintaining facilities, accreditations, providing services to students and the community, etc).

Don't know what super elite colleges either because most aren't even close to $60k for the year. Besides, that probably costs a LOT less than it takes to even run a dorm for a full year.

[dead0man]

^^
Why do universities have (billions of dollars in) investments in anything when they are already charging every student 60,000 a year?

Running a university, especially one conducting world-class research (or really any type of research), is ridiculously expensive. $60K per student per year is pitifully small for the types of services that universities run (paying faculty, administrators, staff, maintaining facilities, accreditations, providing services to students and the community, etc).

And caring for the poor isn't?

plus, court settlements can get really expensive, and we all know those aren't ending any time soon.

[Sprouts Farmers Market ✘]

^^
Why do universities have (billions of dollars in) investments in anything when they are already charging every student 60,000 a year?

Running a university, especially one conducting world-class research (or really any type of research), is ridiculously expensive. $60K per student per year is pitifully small for the types of services that universities run (paying faculty, administrators, staff, maintaining facilities, accreditations, providing services to students and the community, etc).

And the Church does almost all of these activities too in addition to what Santander says. In case it wasn't obvious enough that I was pointing out the lack of thought going on above me with people not understanding all the necessary funds to operate an organization. It's never as simple as collecting payments and having very basic operating costs that perfectly align.

[Mr. Reactionary]

I'd recommend they invest in gold if they didn't already horde $10s of millions worth. Joel Osteen eat your heart out.

[💥💥 brandon bro (he/him/his)]

^^
Why do universities have (billions of dollars in) investments in anything when they are already charging every student 60,000 a year?

Running a university, especially one conducting world-class research (or really any type of research), is ridiculously expensive. $60K per student per year is pitifully small for the types of services that universities run (paying faculty, administrators, staff, maintaining facilities, accreditations, providing services to students and the community, etc).

And caring for the poor isn't?

I'm confused. Did I say anything about paying for the poor? I have zero problems with the church having endowments.

You must be logged in to read this quote.

Right, it does cost less than the cost of running one dorm per year... but also factor in the cost of aid distributed to students in need, maintaining academic buildings including lab space, paying professors, administrative offices, renewing accreditations, funding for graduate students, a campus police staff, etc.

For the record, I'd say the best schools are public research universities and those do have tuition that are much cheaper than $60K. I went to a good public school and spent less than that amount in all four years. I wouldn't send my hypothetical children to a school that cost that much money when there are cheaper alternatives. But I don't see a problem with having an endowment in addition to a high sticker price because that sticker price is still (usually) going to important services.

You must be logged in to read this quote.

I agree with you. Sorry that I misunderstood your post. I see zero conflict in the church having endowments. I am also very happy they are able to divest.