Following a motion that passed with almost universal approval the Church will sever ties with firms that do not meet the terms of the Paris climate agreement by 2023.
The General Synod – the decision-making body for the entire Church – said it broadly supported the current investment strategy – which is based on engaging with companies rather than removing investment.
However an amendment put forward by Canon Giles Goddard of the Church’s environmental working group asked that the investing bodies assessed all companies’ progress in five years’ time.
At this point bodies such as the Church pensions board will disinvest from any that are still not complying.
A spokesperson for the Church of England said: ‘Synod’s vote makes clear that the Church must play a leading role and exercise its moral leadership on the urgent issue of climate change’…