Quakers plan to convert to low carbon investments

Quakers in Britain are planning to convert their fossil fuel investments into low carbons ones, after having a revelation about its climate change commitments. The religious group’s central body – […]

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Quakers in Britain are planning to convert their fossil fuel investments into low carbons ones, after having a revelation about its climate change commitments.

The religious group’s central body – known as the British Yearly Meeting – currently has £21 million invested in the stock market, with 3% sunk into BG Group and 1.2% invested in Statoil.

A member of one of the group’s committees said: “Investing in companies who are engaged in fossil fuel extraction is incompatible with Quakers’ commitment to become a low-carbon community.”

Quakers in Britain has announced its support for Operation Noah, a charity calling for churches and religious communities to cut out fossil fuel investments for its Bright Now campaign. The movement is trying to encourage the complete decarbonisation of the British economy by 2030.

Operation Noah chair Isabel Carter said: “We wish to congratulate the Quakers on taking leadership on this vital issue. We urge other churches in the UK to think seriously about following this example.”

The final decision on whether to press ahead with the plans will be made later this month.