environmental ministries

Divesting from Fossil Fuel Companies and Shareholder Activism

Divestment and Shareholder Activism

At General Synod 29 in 2013, the United Church of Christ became the first denomination to pass a resolution endorsing both divestment from fossil fuel companies and other strategies such as shareholder activism. These strategies may seem incompatible: get rid of shares, or participate in shareholder actions. In fact, the point of both actions is to send a clear message to fossil fuel companies: we are doing our part to decrease our carbon footprints, and we need them to shift with all due haste away from their “business as usual” practices, which are destroying our planet.

Scientists are clear that our planet is changing because of the amount of fossil fuels we have emitted over the past 200 years. The global temperature has already risen nearly 1˚ Celsius. As a result, extreme weather events are becoming more frequent and more intense, species are going extinct at alarming rates, the ocean has become 30% more acidic, wildfires and droughts are covering vast territories, and more.

As people of faith, we are called to be good stewards of creation, to care for it and heal it, and to live in harmony with it. While we can admit our role in using fossil fuels and work to reduce our carbon footprints as individuals, we must also work collectively to change the system. Scientists and many world leaders have agreed that a rise in global temperature of 2˚C is the maximum that the planet can take and still host life more or less as we know it; some scientists say 2˚C is already too much warming. We are already well on our way to that 2˚ limit. In 2012, scientists estimated that we could emit another 565 gigatons of carbon dioxide by midcentury before we reached that level of temperature rise. However, fossil fuel companies have an estimated 2,795 gigatons of carbon in oil, gas, and coal reserves still in the ground, and the companies indicate that they intend to continue with “business as usual” until all of it is gone. In order to keep making money, they are willing to emit five times more gigatons of carbon emissions than the amount that takes us past the point of no return with our climate.*

Our goal, therefore, is to do nothing less than revoke the social license of fossil fuel companies to continue with “business as usual.”

The UCC has two investment organizations: The United Church Funds, which handles church investments such as endowments; and the UCC Pension Boards, which handles pension plans for clergy and some church staff. In July 2014, the United Church Funds announced the creation of such a fossil-fuel-free investment option, giving all who wish to divest their church endowment funds an easy means to do so. Both the United Church Funds and the UCC Pension Boards are also already involved in shareholder activism with the top fossil fuel companies.

Many congregations manage their own funds, and we as individuals have our own investments and retirement funds as well. We have options. Read on!

Why divest?

Here are four reasons to divest:

  1. Climate change is real and urgent: it could end life as we know it. A draft UN report warns that another 15 years of delay on significant action would exacerbate the problem beyond our current technological abilities to solve it. Which means we still have time to address it if we act now. Divestment is one way to send a clear message to fossil fuel companies that we are serious about changing our carbon footprints and they need to be as well.
  2. Many political leaders in the U.S. and worldwide seem incapable of taking meaningful action on climate change. The fossil fuel companies strongly lobby politicians to maintain the status quo. Divestment sends a clear message to both the fossil fuel companies and our political leaders.
  3. As people of faith, we know that Jesus taught and modeled nonviolent strategies for social change. Divestment is a nonviolent strategy.
  4. Divestment aligns our investments with our values.

People of faith must act to mitigate climate change. The earth is God’s, and we are called to be good stewards of God’s creation, including every living creature. When we are called to love our neighbor, we must recognize that “neighbor” includes future generations. It is a sin to destroy the planet and then to profit from its destruction.

How do we divest?

There are three basic steps to divesting:

  1. Learn what you own.
  2. Decide what you want to exclude, and sell your fossil-fuel assets.
  3. Identify and invest in fossil-fuel-free investments. Report your divestment here and here.

Churches exploring divestment should learn about United Church Funds’ Beyond Fossil Fuels funds. These funds are invested in a way that is consistent with the teachings of the United Church of Christ, and they are also free of the largest domestic oil, gas, and coal companies. Visit United Church Funds for details on how to update your congregation’s portfolio.

In addition to the Beyond Fossil Fuels funds, all United Church Funds clients – in all possible funds – will no longer be invested in coal companies and companies that extract a significant amount of tar sands, one of the most environmentally degrading processes for extracting fossil fuels.

For details on divestment for your personal portfolio, download the pdf documents “Extracting Fossil Fuels from Your Portfolio: A Guide to Personal Divestment and Reinvestment” and/or “Investing to Curb Climate Change.”

Another helpful link: Clean Energy Victory Bonds

What good will divestment do?

We do not expect to affect the bottom line of the fossil fuel industry by moving our funds elsewhere. Someone else will just buy the funds that we sell. The point of divestment is to send a strong message that it is time to leave fossil fuels in the ground and explore cleaner alternatives instead. We must revoke the social license of the fossil fuel companies to continue with “business as usual” when that means complete destruction of life as we know it.

What good will shareholder activism do?

Shareholder activism puts pressure on fossil fuel companies to do the right thing. If you hold shares in a fossil fuel company, ask for a meeting. Ask fossil fuel companies to provide information about what will happen to their assets still in the ground if/when they are not allowed to extract them. What is their plan to diversify from fossil fuel energy? How transparent are they about where their lobbying money goes (e.g., does it go to promote the fossil fuel industry?)? If they do not provide satisfactory answers, shareholders can bring up these topics at shareholder meetings.

We can do better. There is no time to lose!

Updates

Here are congregations that have divested:

ARIZONA

Church of the Palms UCC, Sun City, Arizona
Shadow Rock UCC, Phoenix, Arizona

CALIFORNIA

Altadena Community Church UCC, Altadena, California
Arlington Community Church, Kensington, California
Brea Congregational UCC, Brea, California
Community Congregational Church UCC, Benicia, California
Community United Church of Christ, Fresno, California
Congregational Church of San Mateo UCC, San Mateo, California
Congregational Community Church of Sunnyvale, Sunnyvale, California
First Congregational Church, Redwood City, California
First Congregational Church of San Jose, San Jose, California
First Congregational Church of Sonoma, Sonoma, California
First Congregational Church UCC, Auburn, California
First Congregational UCC, Long Beach, California
Mission Hills UCC, San Diego, California
Niles Discovery Church, Fremont, California
Pioneer Ocean View UCC, San Diego, California
Skyline Community Church UCC, Oakland, California
Squaw Valley Chapel UCC, Olympic Valley, California
UCC Congregational of San Luis Obispo, San Luis Obispo, California
United Japanese Christian Church, Clovis, California

COLORADO

Christ Congregational UCC, Fort Morgan, Colorado
Christ Congregational UCC, Pueblo, Colorado
Community UCC, Boulder, Colorado
First Congregational UCC, Greeley, Colorado
First Congregational UCC, Longmont, Colorado
Kirk of Bonnie Brae, Denver, Colorado
Lakewood United Church of Christ, Lakewood, Colorado
Park Hill UCC, Denver, Colorado

CONNECTICUT

First Congregational Church of Canterbury UCC, Canterbury, Connecticut
First Congregational Church of Lyme UCC, Lyme, Connecticut
First Congregational Church of Woodstock, Woodstock, Connecticut
North Madison Congregational Church, Madison, Connecticut
North Stonington Congregational Church, North Stonington, Connecticut
Park Congregational UCC, Norwich, Connecticut
The First Congregational Church of Guilford, Guilford, Connecticut
United Church of Chester, Chester, Connecticut
United Congregational Church of Westerly, Pawcatuck, Connecticut

DISTRICT OF COLUMBIA

Cleveland Park Congregational UCC, Washington, District of Columbia
Peoples Congregational UCC, Washington, District of Columbia

FLORIDA

Congregational UCC, Punta Gorda, Florida
UCC at the Villages, Oxford, Florida

HAWAII

Church of the Crossroads, Honolulu, Hawaii
Hanapepe Hawaiian Congregational Church UCC, Hanapepe, Hawaii
Kapaa United Church of Christ, Kapaa, Hawaii
Koloa Union United Church of Christ, Koloa, Hawaii

ILLINOIS

Community Protestant UCC, Mundelein, Illinois
First Congregational UCC, Moline, Illinois
First Congregational UCC, Naperville, Illinois
First Congregational United Church of Christ, Downers Grove, Illinois
Northfield Community Church UCC, Northfield, Illinois
Saint John UCC, Arlington Heights, Illinois
St. John UCC, Freeport, Illinois
St. Nicolai UCC, Chicago, Illinois
St. Peter’s UCC, Champaign, Illinois
St. Peter’s UCC, Frankfort, Illinois

INDIANA

Bethel United Church of Christ, Evansville, Indiana
Bethlehem UCC, Evansville, Indiana
First Congregational United Church of Christ, Indianapolis, Indiana
St. Peter’s UCC, Carmel, Indiana

IOWA

Ames United Church of Christ, Ames, Iowa
First Congregational UCC, Dubuque, Iowa
Urbandale United Church of Christ, Urbandale, Iowa

KANSAS 

Fairmount United Church of Christ, Wichita, Kansas
St. Peter’s UCC, Inman, Kansas

MAINE

Blue Point Congregational UCC, Scarborough, Maine
Deer Isle Sunset Congregational, Deer Isle, Maine
Dover – Foxcroft Congregational UCC, Dover-Foxcroft, Maine
First Congregational UCC, Waterville, Maine
First Parish Congregational, Yarmouth, Maine
The Congregational Church of Boothbay Harbor, Boothbay Harbor, Maine
West Parish Congregational UCC, Bethel, Maine

MARYLAND

Apples UCC, Thurmont, Maryland
Bethesda UCC, Bethesda, Maryland

MASSACHUSETTS

Central Congregational Church UCC, Chelmsford, Massachusetts
Christ Church United Lowell, Massachusetts
Church of Covenant Federated, Boston, Massachusetts
Community Congregational UCC, Lynnfield, Massachusetts
Congregational Church of Grafton UCC, Grafton, Massachusetts
East Congregational UCC, Milton, Massachusetts
First Church in Cambridge Congregational UCC, Cambridge, Massachusetts
First Church in Marlborough Congregational UCC, Marlborough, Massachusetts
First Congregational Church of Stoneham, Stoneham, Massachusetts
First Congregational Church UCC, South Hadley, Massachusetts
First Congregational Church UCC Amherst, Amherst, Massachusetts
First Congregational UCC, Brimfield, Massachusetts
First Congregational UCC, Natick, Massachusetts
First Congregational UCC, Shrewsbury, Massachusetts
First Congregational UCC, Southampton, Massachusetts
First Congregational UCC, West Tisbury, Massachusetts
First Congregational UCC, Williamstown, Massachusetts
First Parish Congregational Church UCC, Newbury, Massachusetts
First Parish UCC, Westwood, Massachusetts
Hadwen Park Congregational UCC, Worcester, Massachusetts
Hancock United Church of Christ, Lexington, Massachusetts
South Congregational Church of Barnstable UCC, Centerville, Massachusetts
South Congregational Church, Amherst, Massachusetts
South Congregational Church UCC, Andover, Massachusetts
The Congregational Church of Westborough UCC, Westborough, Massachusetts
The Eliot Church of Newton, Newton, Massachusetts
The Federated Church of Orleans, East Orleans, Massachusetts
The Plymouth Church in Framingham, Framingham, Massachusetts
The Second Church in Newton UCC, Newton, Massachusetts
Townsend Congregational, Townsend, Massachusetts
Trinitarian Congregational UCC, Warwick, Massachusetts
Trinity Congregational Church UCC, Gloucester, Massachusetts
Waquoit Congregational Church UCC, East Falmouth, Massachusetts

MICHIGAN

Congregational Church of Birmingham, UCC, Bloomfield Hills, Michigan
Edgewood UCC, East Lansing, Michigan
First Congregational Church of Benzonia UCC, Benzonia, Michigan
First Congregational UCC, Charlotte, Michigan
Plymouth Congregational UCC of Grand Rapids, Grand Rapids, Michigan

MINNESOTA

First Congregational UCC, Mankato, Minnesota
First UCC of Northfield, Northfield, Minnesota
Lyndale Congregational UCC, Minneapolis, Minnesota
Mayflower UCC of Minneapolis, Minneapolis, Minnesota
Plymouth Congregational, Minneapolis, Minnesota
Prairie Community Church UCC, Lester Prairie, Minnesota
United Faith Community, Buffalo, Minnesota

MISSOURI

Southwood UCC, Raytown, Missouri
United Church of New Cambria, New Cambria, Missouri

MONTANA

Community UCC, Red Lodge, Montana
University Congregational UCC, Missoula, Montana

NEW HAMPSHIRE

Atkinson Congregational Church UCC, Atkinson, New Hampshire
First Congregational Church of Dunbarton UCC, Dunbarton, New Hampshire
Nelson Congregational Church, Nelson, New Hampshire
Pilgrim United Church of Christ Brentwood/Kingston, Brentwood, New Hampshire
Sanbornton Congregational UCC, Sanbornton, New Hampshire
Stratham Community Church UCC, Stratham, New Hampshire

NEW JERSEY

First Congregational Church, Montclair, New Jersey
Old First Church, Middletown, New Jersey
Union Congregational UCC, Montclair, New Jersey

NEW MEXICO

First Congregational UCC, Albuquerque, New Mexico
United Church of Santa Fe UCC, Santa Fe, New Mexico

NEW YORK

Church of the Nativity UCC, Buffalo, New York
Mt. Sinai Congregational Church UCC, Mount Sinai, New York
Scarsdale Congregational Church UCC, Scarsdale, New York

NORTH CAROLINA

Congregational Church of Pinehurst, Pinehurst, North Carolina
Elon Community Church UCC, Elon, North Carolina
First Congregational UCC, Asheville, North Carolina
High Country UCC, Vilas, North Carolina
Umstead Park United Church of Christ, Raleigh, North Carolina

NORTH DAKOTA

First Congregational Church UCC, Garrison, North Dakota

OHIO

Olmsted Community Church UCC, Olmsted Falls, Ohio
The United Church of Granville, Granville, Ohio

OKLAHOMA

Mayflower Congregational UCC, Oklahoma City, Oklahoma

OREGON

Medford Congregational UCC, Medford, Oregon
Riverside Community Church, Hood River, Oregon
United Church of Christ, Beavercreek, Oregon
United Church of Christ, Forest Grove, Oregon

PENNSYLVANIA

Carversville Christian Church UCC, Carversville, Pennsylvania
Faith United Church of Christ , Hazleton, Pennsylvania
Grace Christian Fellowship United Church of Christ, Philadelphia, Pennsylvania
Quentin United Church of Christ , Quentin, Pennsylvania
St. John’s UCC, Lansdale, Pennsylvania
St. John’s, Jonestown, Pennsylvania
Tabernacle United Church, Philadelphia, Pennsylvania
United Christian Church, Levittown, Pennsylvania

RHODE ISLAND

Newman Congregational Church UCC, East Providence, Rhode Island

TENNESSE

Pilgrim Congregational UCC, Chattanooga, Tennessee

TEXAS

Central Congregational UCC, Dallas, Texas
The New Church – Chiesa Nuova UCC, Dallas, Texas

UTAH

Congregational UCC, Ogden, Utah
Holladay UCC, Holladay, Utah

VERMONT

First Congregational Church in Thetford, Thetford, Vermont
Grace Congregational UCC, Rutland, Vermont
Second Congregational Church of Bennington, Bennington, Vermont
Weybridge Congregational UCC, Weybridge, Vermont

VIRGINIA

Hope UCC, Alexandria, Virginia
Rock Spring Congregational United Church of Christ, Arlington, Virginia
Wellspring UCC, Centreville, Virginia

WASHINGTON

All Pilgrims Christian Church UCC, Seattle, Washington
Bethany United Church of Christ, Seattle, Washington
First Congregational UCC, Bellingham, Washington
Keystone Congregational UCC, Seattle, Washington
Lummi Island Congregational Church UCC, Lummi Island, Washington
Northshore UCC, Woodinville, Washington
Plymouth Congregational Church UCC, Seattle, Washington
Prospect (Congregational) UCC, Seattle Washington
Richmond Beach Congregational UCC, Shoreline, Washington
Spirit of Peace UCC, Sammamish, Washington
University Congregational, Seattle, Washington
Wayside UCC, Federal Way, Washington

WISCONSIN

Bethany UCC, Oshkosh, Wisconsin
Community of Hope UCC, Madison, Wisconsin
Ebenezer UCC, Sheboygan, Wisconsin
Evangelical & Reformed UCC, Waukesha, Wisconsin
First Congregational UCC, Wisconsin Rapids, Wisconsin
First Congregational UCC, Madison, Wisconsin
First Congregational UCC, Oshkosh, Wisconsin
First Congregational UCC, River Falls, Wisconsin
First Congregational UCC, Sheboygan, Wisconsin
Grace Congregational UCC, Two Rivers, Wisconsin
Grace United Church of Christ, Wausau, Wisconsin
Hope United Church of Christ, Sturgeon Bay, Wisconsin
Memorial UCC, Fitchburg, Wisconsin
Middleton Community Church, Middleton, Wisconsin
Mount Vernon Zwingli UCC, Mount Vernon, Wisconsin
Pilgrim UCC, Fond du Lac, Wisconsin
Pilgrim UCC, Grafton, Wisconsin
Plymouth Congregational UCC, Madison, Wisconsin
Somers Community UCC, Kenosha, Wisconsin
St. Paul’s United Church of Christ, Colgate, Wisconsin
Trost Center, DeForest, Wisconsin
United Church of Christ, Elcho, Wisconsin
United Church of Christ, Mc Farland, Wisconsin