| Resolution Number: | 2022-C016 |
|---|---|
| Title: | Establish a Shareholder Strategy to Address Carbon-Intensive Lending |
| Legislative Action Taken: | Concurred |
| Final Text: | |
Resolved, That the 80th General Convention of The Episcopal Church direct the Executive Council (Domestic & Foreign Missionary Society aka DFMS) and its Committee on Corporate Social Responsibility (CCSR), in conjunction with the Church Pension Fund (CPF), to establish and coordinate shareholder strategy addressing Carbon-Intensive Lending by U.S. Banks and other financial lending institutions; and be it further
Resolved, That the CCSR and CPF identify banks and financial lending institutions within the DFMS and CPF portfolios that are carbon-intensive lenders and initiate the appropriate shareholder strategy with these institutions to slow global warming; and be it further
Resolved, That the General Convention supports joint efforts with the Church of England National Investing Bodies (NIBs) in achieving the goals of the Paris Climate Agreement; and be it further
Resolved, That the General Convention make this coordination a priority for the triennium under the Episcopal Church’s Covenant for the Care of Creation by authorizing reasonable costs to be treated as investment management expenses.
| Citation: | General Convention, Journal of the General Convention of...The Episcopal Church, Baltimore, 2022 (New York: General Convention, 2023), pp. 548-549. |
|---|
Legislative History
| Author: | California |
|---|---|
| Originating House: | House of Bishops |
| Originating Committee: | Environmental Stewardship and Care of Creation |
House of Bishops
The House of Bishops Committee on Environmental Stewardship and Care of Creation presented its Report #3 on Resolution C016 (Climate Change - Carbon-Intensive Lending) and moved adoption.
Original Text of Resolution:
(C016)
Resolved, the House of Deputies concurring,
That the 80th General Convention of The Episcopal Church direct the Executive Council (Domestic & Foreign Missionary Society aka DFMS) and its Committee on Corporate Social Responsibility (CCSR), in conjunction with the Church Pension Fund (CPF), to establish and coordinate shareholder strategy addressing Carbon-Intensive Lending by U.S. Banks and other financial lending institutions; and be it further
Resolved, That the CCSR and CPF identify banks and financial lending institutions within the DFMS and CPF portfolios that are carbon-intensive lenders and initiate the appropriate shareholder strategy with these institutions to slow global warming; and be it further
Resolved, That the General Convention supports joint efforts with the Church of England National Investing Bodies (NIBs) in achieving the goals of the Paris Climate Agreement; and be it further
Resolved, That the General Convention make this coordination a priority for the triennium under the Episcopal Church’s Covenant for the Care of Creation by authorizing reasonable costs to be treated as investment management expenses.
Motion carried
Resolution adopted
(Communicated to the House of Deputies in HB Message #200)
House of Deputies
The House of Deputies Committee on Environmental Stewardship and Care of Creation presented its Report #12 on HB Message #200 on Resolution C016 (Climate Change - Carbon-Intensive Lending) and moved concurrence.
Motion carried
The House concurred
(Communicated to the House of Bishops in HD Message #305)
Resolution Concurred by Both Houses, July 11.
| Abstract: | The 80th General Convention directs the Executive Council to establish a shareholder strategy that addresses Carbon-Intensive Lending by financial institutions. |
|---|