If we think it is morally problematic to invest in alcohol, tobacco, and gambling because of their negative effects on persons and society; but we think it is not morally problematic to invest in fossil fuel companies, then that it is a deeply flawed view of moral and social responsibility.
Only one of the above mentioned industries threatens the very future of human civilization on earth, and that industry, the fossil fuel industry, has spent billions of dollars to spread demonstrably false information about climate change and to influence politicians to keep allowing them to continue harming people and the planet.
My church, the United Methodist Church, and the company that manages its pension and benefits investments, Wespath, continue to make this grievous error in the name of keeping a seat at the table to influence the oil and gas companies. It is not working.
These same fossil fuel corporations are the ones working behind the scenes to keep us from making gains for climate justice and to keep us from moving towards clean and renewable energy. These same companies are investing in an infrastructure of pipelines and technology that will keep us dependent on fossil fuel for another generation while climate scientists are telling us that the vast majority of oil and gas must stay in the ground. Despite their public claims to the contrary, these same companies have helped bring people like Donald Trump and Scott Pruitt to power, and now they have removed the USA from the Paris Climate Agreement. By continuing to invest in these fossil fuel companies, the United Methodist Church is complicit with the very entities most responsible for creating an unlivable climate for human civilization.
Time and time again the United Methodist Church’s investments in fossil fuel companies undercut our prophetic witness for the care of creation. We United Methodists stood side by side with the people of Standing Rock and wrote statements of support for the water protectors there, only to have our witness tainted by the news that our church was financially invested in the very companies that were building the Dakota Access Pipeline. Talk about an example of not putting our money where our mouth was!
Recently, Wespath has touted the fact that our engagement with Occidental and Exxon Mobil helped sway stockholder votes to make these companies take into consideration and report to the stockholders about the impact of climate change and climate change mitigation on the activities and financial value of these companies. Days later the United States pulled out of the Paris Climate Accord based on the false science that these companies have been supporting for decades. The stockholder resolutions that Westpath is so proud of will have negligible impact, if any, on the actual extraction practices of these companies, while the United States federal government’s decision to withdraw from global cooperative action on climate change will likely bring devastating consequences to all life on earth.
What good are returns on our pension and benefits investments if we do not have a livable climate for human civilization? What good is a seat at the table of the planet destroyers if they keep on destroying the planet? While they may occasionally give us some crumbs that fall off the table to keep us satisfied that we are doing some good, they continue funding the merchants of doubt and the merchants of death that will lead to unspeakable suffering for all life on earth. It is time to stop taking seats at the tables we should be turning over and fully engage the prophetic witness for climate justice that is needed in fiercely urgent times like these.