Download Overture for Divestment from Fossil Fuel Companies

Overture for Divestment from Fossil Fuel Companies
In the last four months, the Sessions of Oswego Presbyterian and Ridgefield-Crystal Lake Presbyterian
approved an overture to the 222nd General Assembly supporting fossil fuel divestment by the
Presbyterian Foundation and Board of Pensions. On April 12 Blackhawk Presbytery will decide
whether to concur on this overture to GA 2016 in Portland, Oregon.
In February 2014, Blackhawk considered the overture, and it was defeated by three votes. Nevertheless,
the overture was endorsed by 12 Presbyteries and proceeded to GA 2014. There it was referred to
PC(USA)’s Committee on Mission Responsibility Through Investment (MRTI) for two years of study.
Much has happened in those two years. Our planet has experienced record high temperatures and
extreme weather events, and the level of CO2 in the atmosphere has continued to rise. The Pope has
issued his Laudato Sii Climate Change encyclical, PC(USA) Stated Clerk Gradye Parsons has affirmed
the moral conviction that we must turn from practices that harm the creation, and many institutions
have decided to divest from fossil fuels.
Meanwhile, a revised overture to GA 2016 has been developed that incorporates responses to concerns
expressed at GA 2014 and at MRTI meetings since then. It asks that the Foundation and Board of
Pensions stop buying directly held fossil fuel stocks, while selling what they currently have within 3
years. It directs the denomination to invest in renewables, helping to create the solution. It allows for
keeping a “seat at the table”, so we can participate in shareholder action. It also encourages the
continuation of advocacy and programs to educate all levels of the church about these issues.
As of mid-March, 24 Presbyteries have concurred in the 2016 overture, more than double those of 2014
and a number likely to increase further. We believe that divestment is an essential tool that institutional
and personal investors can use to influence the course of climate change. We pray that Presbyterians
will join the faithful chorus of the UCC, Unitarians, Methodists, and Episcopalians in denominational
divestment.
For the text and rationale of the overture, visit http://www.fossilfreepcusa.org/resources/overture-2016/
For frequently asked questions about divestment, see http://www.fossilfreepcusa.org/fossil-free101/faq/
For curricula on climate justice, go to http://www.fossilfreepcusa.org/resources/curriculum/
~ Oswego Presbyterian Earth Care Team and Ridgefield-Crystal Lake Presbyterian Earth Care and Compassion,
Peace, and Justice Teams