The Episcopal Church is on a roll these days. Just days after voting to allow
gay marriages to be performed in their churches, church leaders have voted to divest more than $350 million of their interests
from the fossil fuel industry.
“The vote says that this is a moral issue and that we really have to think about where we are putting our money,” said Betsy Blake Bennett, archdeacon in the Episcopal diocese of Nebraska, who supported divestment.
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The immediate impact of the vote is symbolic. The measures covers some $380m in church holdings, but does not cover the denomination’s biggest asset, the $9bn pension fund, or some $4bn controlled by parishes and dioceses. The resolution encourages those congregations to begin looking at divestment.
It's another step towards progress for the Episcopal Church. This makes them the third major denomination in recent years to divest their
sizable interests out of the fossil fuel industry, joining
other organizations in the move towards a future not dependent on oil.