Pope’s climate push at odds with U.S. Catholic oil investments

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Pope Francis, shown here in the Vatican gardens, is speaking out against deforestation in his native Argentina.  Photo courtesy of REUTERS/Max Rossi

Pope Francis, shown here in the Vatican gardens, is speaking out against deforestation in his native Argentina. Photo courtesy of REUTERS/Max Rossi

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(Reuters) Dioceses in Boston, Long Island, Baltimore, Toledo, and much of Minnesota have all reported millions of dollars in holdings in oil and gas stocks in recent years.

  • Dominic

    The businesses the Church have investments in are truly not hypocritical to the Pope’s call for a cleaner Earth. Yes, it is good that Church leaders are reassessing their investments now, but the current arrangements are simply acceptable good business practices.
    Again, the Pope’s call for change is not new, nor is it religiously binding. His message is a warning of global chaos if we do not start addressing environmental factors now. His voice adds spiritual arguments to a cacophony of voices saying the same thing.

  • Betty Clermont

    The original article has a “factbox”: “(Arch) dioceses Boston – $190.9 million in investments. Chicago – $1.65 billion portfolio. Baltimore – $110 million portfolio. The Catholic Community Foundation of Minnesota, which invests for Catholic dioceses in Minnesota, reported investments totaling $260.2 million. Many other dioceses, including those of New York and Los Angeles – America’s largest – did not provide detailed information on their holdings. Christian Brothers Investment Services, which invests for Catholic dioceses, religious institutes, educational institutions and health care organizations – $6 billion under management.”
    So much for this pope’s “poor Church.” He has never instructed his Vatican, bishops, superiors of religious orders to divest any of their assets to help the poor.

  • Dominic

    And your proof is where? The Catholic Church is not a Charity, it is a religious institution that supports numerous charitable outlets.

  • Debbo

    “Dioceses covering Boston, Rockville Centre on Long Island, Baltimore, Toledo, and much of Minnesota have all reported millions of dollars in holdings in oil and gas stocks in recent years”

    And these are the dioceses filing bankruptcy to protect those holdings and reduce payments to the victims of their abuse? For shame!

    Dominic said, “simply acceptable good business practices.” That’s not an acceptable excuse. Good Business Practices have enabled countless bad behaviors by companies who have used it to excuse discrimination, poluting, worker exploitation, legislative bribery, etc.