American Catholic institutions have big investments in oil, gas, and coal; they seem to be ignoring the pope’s call to divest. Although hundreds of other Catholic institutions worldwide are divesting from fossil fuels to fight climate change, not a single diocese in the U.S. has followed suit.
The U.S. Conference of Catholic Bishops notes that it updated its investment guidance to align with Pope Francis’s 2015 encyclical, but does not require divestment from fossil fuels. The pope had planned to attend a climate conference in Dubai, but due to health concerns, a senior official may read his speech or use a video link instead.
The rift between U.S. Catholic bishops and the pope on addressing global warming has led to this divergence in approach. Some dioceses in the U.S., including Chicago, San Francisco, and Erie, Pennsylvania, are investing in energy assets and leasing land to drillers without disclosing specific details.
In contrast, Catholic institutions in other countries have been leading the charge to divest from fossil fuels. Over 354 Catholic institutions in more than 50 countries have divested, but the U.S. dioceses seem to be reluctant to follow their lead.
The U.S. Catholic hierarchy’s tendency towards conservative leanings and fear of upsetting politically conservative Catholics are seen as reasons for this reluctance to divest from fossil fuels. This has led to criticism from some experts and advocates for change.
