CHRISTIAN campaigners are planning a series of prayer vigils at cathedrals, urging them to modify banks away from ones that spend money on fossil-fuel corporations.
It comes as quite a few cathedrals have recently made a commitment to modify to banks which have ruled out investing in fossil fuels. Worcester, Durham, Truro, and Southwark Cathedrals are the newest to vary to maneuver their banking. They join Sheffield, Chelmsford, and Derby Cathedrals, who either already bank with alternative providers, or are within the means of moving.
The Dean of Worcester, the Very Revd Stephen Edwards, said this week: “In 2021, Worcester Cathedral, like many organisations, declared a climate emergency. This, along with our journey through the Eco Church programme, has focused on the broader implications of the climate crisis and the way we are able to make a difference across the cathedral’s activity.
“We began exploring alternative banking arrangements last yr, and are working to hunt the most effective ethical and sustainable approach to financial processes. In doing so, we live out our values as a Christian organisation proclaiming the Kingdom of God.”
On Facebook, Dean Edwards thanked the efforts of the campaign group Christian Climate Action for encouraging the Church to maneuver on this direction. Over the subsequent few months, Christian Climate Action is carrying out a series of vigils at cathedrals across the UK. Starting on the second Sunday of Lent, Christians might be urging cathedral finance departments to modify from considered one of the large five banks — Barclays, HSBC, Santander, NatWest, and Lloyds — to a bank that doesn’t spend money on fossil fuels.
The Revd Mark Coleman, a retired vicar from Rochdale and a supporter of Christian Climate Action, said: “Fossil-fuel corporations could be those extracting and burning fossil fuels, nevertheless it’s the large five banks making that financially possible. These banks are funding climate collapse, and all of the suffering, extinction, wars, and political chaos that comes with that. As Christians, we’re called to talk up for the poor and against the powers causing oppression.
”So, let’s try this, speak up for those on the front lines of the climate crisis, drop the banks which can be funding systematic suffering, and reward those which can be doing the fitting thing.”
Since the Paris Agreement in 2015, the world’s 60 largest banks have provided $6.9 trillion in financial commitments to the fossil-fuel industry, with $673 billion in fossil- fuel financing in 2023 alone.
The director of movement constructing on the JustMoney Movement, Rosie Venner, said: “Many big banks proceed to finance sectors which can be fuelling the climate crisis and usually are not moving swiftly enough to take a position in solutions like renewable energy. At JustMoney Movement, we support a variety of churches and Christian organisations to think about their funds as a part of how they look after creation, and we’re encouraged to see more Cathedrals taking such motion with their funds.
“In doing so, they strengthen the movement advocating for a greener, fairer banking sector. As Christians, switching to a greener bank is a way of affirming our commitment to act justly and love our neighbours. When we do that collectively, we send a strong message that things need to vary, in order that greener banking becomes the norm.”
Joe Ware is Senior Climate Journalist at Christian Aid.
