Catholic church in Greater Manchester sells it shares in gas giants BP and Shell after 'taking a stand'
manchestereveningnews.co.ukThe Catholic church in Greater Manchester and Lancashire is selling shares it has in oil and gas giants BP and Shell, saying they are 'no longer ambitious enough' over the threat posed by global warming.
In a strongly-worded statement critical of both global companies, the Diocese of Salford said it wanted to 'take a stand against companies that do not align with our principles and that put their profits ahead of the common good'.
The Manchester Evening News understands the church's share holding in the companies represents a small percentage of its total investment portfolio, around three per cent. READ MORE: Police and forensics on scene as murder probe launched after death of woman READ MORE: Man dies after being hit by car on M62 with motorway fully shut It's not known exactly how many shares the diocese has in BP and Shell, both public limited companies, or when they were acquired.
Making the announcement the diocese, headed in Greater Manchester by the Bishop of Salford, the Right Reverend John Arnold, said it believed that in recent weeks, both BP and Shell 'have altered their stance and are no longer ambitious enough in their decarbonisation pathways and transition plans'.
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