by abby mohaupt
Moderator of FFPCUSA
I went to Houston on October 9 to meet with Mission Responsibility Through Investment (MRTI), the denominational committee that does shareholder engagement with publicly traded companies in which the Presbyterian Church (USA) holds stock.
As a committee, they have repeatedly resisted categorical divestment from the fossil fuel industry for several reasons, even as they believe that climate change is real. In broad strokes, there is a sense on MRTI that they must be careful to follow their mandate from General Assembly. Some members of the committee think we can’t lump the worst actors in the industry in the same category as companies who are “better.” If we divest categorically from the fossil fuel industry, some members of MRTI say, we will be shaming members of the PCUSA who work for the industry, and other members and friends of MRTI have said we might push wealthy congregations in Texas (only Texas?) out of the denomination.
This was my fourth or fifth time attending an MRTI meeting, and I was prepared for at least a deep and complicated conversation that could pit us against each other—and I was exhausted just thinking about it. In the cab to the airport after my early morning flight, I could already feel my need for more coffee growing. I said a prayer to be open-hearted.
But then I stuck my head into the room at the church where the committee was meeting, and my heart leapt. I saw the faces of the people gathered around the table, and I remembered that we each had come to the table with a deep faith in Jesus, a deep hope in the church, and a deep call to respond to climate change.
Members of Faithful Action and I joined members of MRTI at the table. A member of MRTI asked me to talk more about FFPCUSA’s recent joining with Presbyterian Peace Fellowship, and I talked about our commitment to working in solidarity with people on the front lines of climate change. A member of MRTI wondered if categorical divestment from the fossil fuel industry would cause another painful schism in the denomination in which wealthy donors (and faithful Presbyterians) would leave, and I wondered if we could serve both God and money. We talked about the metrics for engaging with companies in the 2017-2018 engagement year, and I said I love them and that I wished they meant MRTI would recommend at least a few companies for divestment at the 2018 General Assembly. (Instead, MRTI believes they need to give companies a chance to see the metrics and respond to them.) We talked a little bit about why individual action to respond to climate change isn’t enough, and that we need to raise our collective voices in addition to doing all the things that the denomination already promotes for caring for creation. (If you want to see why your own personal actions aren’t enough, go fill out a carbon footprint calculator like this one, put in all the most eco-friendly options, and see how many earths you still use.) I talked about who we’re accountable to as a church—that we must be accountable to the lives of people who are already suffering because of climate change.
After the roundtable, we heard from staff at Conoco Philips (including about their climate change policy)… and I wondered aloud just how little time we have left to respond to climate change. A member of MRTI wondered aloud how long it would take us to wake up and realize that we belong to each other.
It is urgent that we remember that we belong to each other—that we are called by God to love each other and to speak out on behalf of people who suffer. We have so little time to respond, so little time to wait for the fossil fuel industry to change their policies and business model.
As I hugged members of MRTI and Faithful Action goodbye, I said a prayer of gratitude for our shared commitment to work to respond to climate change. And then I said a prayer for courage for our denomination—that we would divest from an industry that has supplied our addiction to fossil fuels.
The time is now.
At Fossil Free PCUSA, we are accountable to communities on the front line of climate change devastation. We acknowledge that the devastation of Puerto Rico from Hurricane Maria (which was intensified by the reality of climate change) is made worse by systems of oppression like capitalism and white privilege. At this time--because Puerto Ricans are still largely without power and other necessities of survival--we are lifting up a voice from Florida. We recommend, however this piece from "Mother Jones" that shares how Puerto Ricans are talking about climate change, as well as this piece by Alejandra Rosa. We will amplify their voices in the days, weeks, and months to come.
To Members of the MRTI Committee and Rob Fohr
From: Pam McVety, Elder, First Presbyterian Church Tallahassee & Caring for Creation Enabler, Florida
Presbytery, Member, Fossil Free PCUSA
Re: Request to MRTI Regarding Its Work to Address Climate Change
Objective: In light of the growing number of brutal climate enhanced disasters and the short time left for us to cut carbon emissions, I believe the MRTI Committee has strong justification to bring the following recommendation to the 2018 General Assembly along with its required report:
Escalating Extreme Weather Events and Human Suffering: After nearly two decades of work for our denomination on climate change, I became a climate change victim. I was terrorized for a week by Hurricane Irma which, because of the ocean's warming waters, was a record monster storm with wind speeds around 185 mph. Irma killed at least 68 people, destroyed homes and entire communities, and costing all of us billions of dollars. The terror of the long wait as Irma approached and the destruction and suffering the hurricane left in its wake will never be forgotten.
As a life-long Florida resident, I have experienced a lot of hurricanes, but I’ve never experienced anything even approaching the ferocity of Irma. It is clear that living in Florida today constitutes a risk that never existed before in my life. Science confirms that it is undeniably the result of climate change.
Irma was only one of several horrendous weather events this summer. We had four destructive hurricanes, record-breaking floods in southeast Asia and Nigeria that affected 41 million people, and more than 100 fires in the U.S. northwest that burned more than a million acres filling the air with suffocating smoke and ash. Hurricane Maria literally destroyed Puerto Rico. The damages in the U.S. alone will probably top 200 billion dollars, another record. For millions, it seems like the “end-times” as prophesized in the Bible.
We all watched Houstonians wade through sewage tainted waters and later carry the contents of their homes to the streets. We watched in horror as houses out west burned down, taking with them a lifetime of treasures and memories. We saw farmers weeping in Puerto Rico, because every coconut tree, plantain tree and cow is gone. We feel the pain of every parent in Puerto Rico agonizing how they will feed and clothe their children, send them to school and, keep them safe at home, when there is no home, no school or store.
Decreasing Time to Respond: As climate change impacts worsen, the time to act is growing exceedingly short. A September 15, Scientific American article, “The Window is Closing to Avoid Dangerous Global Warming,” says our global climate emissions have to peak by 2020 -- that is, in less than three years -- to avoid locking in a catastrophic multitude of climate change impacts.
Focusing on the Real Victims: It seemed to me at the last General Assembly (GA) that MRTI’s position on divestment was partially motivated by wanting to keep peace in the church and not lose any more members. Development of criteria to evaluate each fossil fuel company for possible divestment was adopted as a safe middle ground. Fossil fuel divestment over a three-year period was considered disruptive to maintaining membership and peace in the church. The decision to push for evaluation criteria over divestment felt to me like a response tilted towards the loud voices of the fossil fuel industry that positioned themselves as “victims.” The GA action calmed them, but did not respond to the real victims, the millions of people being slammed by climate change over and over.
Availability of Fossil Free Funding Options: Tim Clark, CEO of New Covenant Funds visited our church, First Presbyterian of Tallahassee recently. He went over our investments and was full of praise for our role in setting up the Fossil-free common fund. The fund now amounts to more than three million dollars of which 60% currently consists of our own investments. It continues to grow, with more churches and individuals buying in. We are pleased with the returns and grateful for the availability of this fund. It is a model which the greater church could emulate for its funds.
Healing the Church by Divesting: We must heal ourselves before we can heal creation. Divestment begins this process. As people of faith, we must do everything we can to not make the climate crisis worse. Further, when we divest from fossil fuels, it aligns us with a movement that can put global pressure on these companies. As of December 2016, that movement encompassed 688 institutions and $5.5 trillion in global assets. As the church, we need to heal and be part of this powerful world-wide call for justice and accountability by the fossil fuel companies.
My request: Bring your report on the divestment criteria (June 2017, MRTI Company Metrics) to the 2018 GA as directed by the 2016 GA but also bring a recommendation to completely divest from the denomination’s fossil fuel holdings over the next two years. The authority to do this is included in MRTI’s assigned functions in the Presbyterian Mission Agency Manual of Operations. The justification is outlined above.
With your leadership and support, divestment would have a strong chance of being approved by the 2018 General Assembly. Your recommendations, as I observed during the 2014 and 2016 GA’s, exert great influence on how commissioners vote. You are an intelligent, caring and experienced committee, and I know you are not indifferent to the devastating impacts of unmitigated climate change. Please look carefully and prayerfully at the wisdom of prolonging the status quo of our denomination’s fossil fuel investments in light of the brutal experiences so many millions are experiencing from climate enhanced disasters.
We must heal ourselves before we can heal creation and we can do this by divesting.
** endnote: this letter was emailed to MRTI and they are discussing it at their next meeting, on October 9 in Houston.
The Union of Concerned Scientists (UCS) hosted a webinar, September 14, entitled, “Who is responsible for climate damages?” It focused on research by Brenda Ekwurzel, UCS Director of Science, published in Climate Change 2017, entitled “The rise in global atmospheric CO2 surface temperature and sea level from emissions traced to major carbon producers.”
She and others quantified the contributions of carbon emissions to global surface temperature rise, finding that nearly two-thirds of the total industrial CO2 and CH4 emissions can be traced to 90 major industrial carbon producers. Emissions traced to these 90 carbon producers contributed ~57% of the observed rise in atmospheric CO2, ~42-50% of the rise in global mean surface temperature and ~26-32% of global sea level rise between 1880 –2010.
This research is important because it lays the groundwork for tracing carbon emissions from producers to climate impacts. Impacts and costs associated with climate change enhanced weather events are costing all of us dearly. The costs from Hurricane Irma and Harvey alone will undoubtedly exceed $200 billion. Currently tax payers and individuals are paying these costs. As this research is perfected and expanded information will be available for policy makers and the legal system to attribute costs to the fossil fuel industry. To read this research go to bit.ly/GAT_SLR.
Fossil Fuel PCUSA Member
by Emily Mikhail
Emily Mikhail is a Young Adult Volunteer serving in Chicago, IL, as well as an elder ordained in her home church of West Plano Presbyterian Church in Texas.
On June 12th, Fossil Free PCUSA attended part of the June MRTI meeting. What was clear throughout the conversation, and what will hopefully be clear here, was that all groups represented at this meeting are very passionate about doing what’s best for the church and the world. All agreed that climate change is a very real problem facing our world, and that fossil fuels have played a part in this. What was in discussion was not that, but how the process to rectify this should look.
When the group representing FFPCUSA arrived, MRTI was discussing criteria for use of divestment based on the directive they were handed at the 2016 General Assembly. Key to this consideration was a focused engagement process on climate change in all industries, but especially fossil fuels. The challenge as identified by MRTI is how to operationalize this into a good process to know how to figure out significant changes. One part of this process is for MRTI to develop a rubric that includes elements of the directive from GA, and then filtering companies already engaged by MRTI through this to see if they are moving forward or backsliding. With this rubric, MRTI would be able to consider who would be good for engagement versus potential divestment, and if divestment, then how that might look. Also discussed was the recent announcement by ExxonMobil to continue to support the Paris Agreement, and what may have brought about that change. Did shareholder engagement help? Or was it because of the Paris Agreement itself, with all but three countries remaining in? Companies look for predictability - they want things stable and want to be able to plan for the future. The Paris agreement standardized and leveled out the playing field, especially across the Northern/Southern hemispheric divide. Companies must conform to global industry standards to stay competitive, and in this case, low carbon is the way to go. So it may be possible that this decision was made with the best long-term interests of the company in mind, not because of engaged shareholders or for the betterment of the environment.
A recurring question throughout the session was why to focus on the fossil fuel industry as the main industry to combat climate change. While oil, coal, and gas make up the supply side, several MRTI members pointed out industries on the demand side that were large emitters and could equally be complicit in the long lasting environmental damage we are seeing today.
Another consideration was that, since PCUSA already does not invest in “sin stocks” (tobacco, alcohol and gambling companies), it would not be outside the realm of possibility to designate other industries into this position as well. This argument has previously been used as a rationale in divesting from other industries or individual organizations. How long should MRTI continue to engage as shareholders and go back and forth with these companies before making this decision? Within FFPCUSA, there is a belief that God’s call to love all creation directs us to be good stewards of the earth, thus the support for divestment from the fossil fuel industry. The harm that the fossil fuel industry has already done to the earth is not in line with being stewards of our resources.
In response to designating the fossil fuel industry as sinful, a gentleman who had previously worked with Synod of the Sun expressed concern over the implications of such a label. In Synod of the Sun, the fossil fuel industry is a huge employer across many levels. There is a desire to continue to support and respect those who rely on the fossil fuel industry for their livelihood, and a concern that some kind of blanket morality statement with regards to fossil fuels will turn these individuals away, especially in a Synod that already has many churches that are on the way to leaving PCUSA. From this, dialogue was suggested about the concerns expressed about the impact of the fossil fuel industry versus supporting livelihoods. While we hold this to be true, we also want to honor and stand with those communities that have been harmed, sometimes irreparably, by the actions of the fossil fuel industry. A further concern from designating the fossil fuel industry was the concern that this was a conversation stopper, and that assigning morality around the issue would polarize individuals. However, this argument in and of itself seems designed to put a roadblock in the conversation of how best to address the damage the fossil fuel industry has done to the environment.
There are also already some initiatives in place around going fossil free. The Board of Pensions recently introduced a fossil free fund option, which is a great step forward. However, they are unable to advertise this option, so it has been spread largely by word of mouth. Additionally, the Presbyterian Foundation’s subsidiary, New Covenant Trust Company (NCTC),is providing fossil free managed strategies to congregations, as well as individuals. Furthermore, the Foundation has committed to designate 1 percent of its endowments for investments targeting climate change. All of these are positive changes, but FFPCUSA still believes more needs to be done.
MRTI members expressed the importance of maintaining the conversation of their actions with regards to the fossil fuel industry as a both/and conversation, and for MRTI, this means exploring both what it means to continue to engage as shareholders and what might necessitate divestment. FFPCUSA very much respects the work MRTI does, but disagrees as to how the timeframe of the process as it stands now addresses the urgency of the problem at hand, and believes that the underlying moral imperative for the church, in keeping with God’s covenant with all things alive and yet to be born (Genesis 9), is to withdraw its support from companies that profit from destroying creation.
Caring for Creation NotesGlobal Chorus of Objection to the U.S. Withdrawal from Paris Climate Accord
by Pam McVety
This article originally appeared in the Florida Pelican, the Presbytery of Florida's newsletter.
I knew it was coming, so days before the President withdrew from the Paris Climate Accord, I sent our local newspaper an opinion piece about the dangers of his refusal to participate with the rest of the world in addressing climate change. Nevertheless, on June 1, when the President actually announced his intent to withdraw the U.S. from the accord, I was shaken. A devout and quiet Presbyterian friend, Gary Paton was moved to describe this action as “callous and arrogant” and I agree. We are not alone in our reactions. The world is stunned and at last count, 1,200 states, cities, businesses and universities have stepped forward to reassure the world that Americans are serious about cutting carbon emissions.
Virtually all countries on this planet support cutting carbon emissions and are part of the Paris Climate Accord. A majority of Americans and major companies and businesses support it. American “big” businesses that oppose our withdrawal include Apple, General Electric, Google, Facebook, Goldman Sachs, Tesla, Morgan Stanley, PepsiCo, Walmart and Walt Disney. Even large oil companies such as ExxonMobil and Chevron argue against withdrawal.
Faith groups are also speaking out. Our Church's Stated Clerk, J. Herbert Nelson, issued a statement of disappointment at the President's move, and asked us to continue to work toward an environmentally safe world. The Episcopal Church and Evangelical Lutheran Church in America took an even stronger stand, “denouncing” the President’s actions. Major Jewish, Muslim and Hindu organizations condemned the President’s withdrawal, as did several Catholic leaders.
World leaders, governors, mayors and other elected officials are opposed to the withdrawal and say that they will move forward to cut emissions on their own without the President.
The President by taking this action revealed his intent to support the fossil fuel industry and a couple of well known billionaires over the welfare of you and me, his base of supporters, the coal industry, future generations and the more than seven billion people living on the Earth.
His justification focused on the "costs" of the climate accord, claiming that they were unfair to Americans. He was wrong. The accord is not unfair to Americans: we volunteered our own emission targets, as did every other country. His job numbers and cost figures, as well as his interpretation that a 0.2 degree C cut is a “tiny, tiny” amount, have all been refuted and he completely ignored the benefits that come from tackling climate change. He also ignored the heavy costs and irreparable damage to the planet that will be incurred by business as usual. The President is completely out of sync with the global chorus calling for action to cut carbon emissions.
My Presbyterian friend, Gary Payton, attended the 2015 UN Conference of Parties (COP21) in Paris as an observer for our denomination. He reported, “Paris shook me out of my comfortable American perspective and introduced me personally to the suffering of sisters and brothers happening today from climate change.” One story he shared was from the President of Kiribati, Anote Tong who described the dire circumstance of his Pacific Island nation, which is being consumed by rising ocean water – the destruction of his culture, the disappearance of homes and communities, and the displacement of the entire population. President Tong described their situation as “a disaster that never goes away.” The expectation is that the island nation will completely disappear in the lifetime of its youngest citizens because of sea level rise from warming waters and melting glaciers.
I am upset with the dangerous recklessness of the President, but optimistic that the world will change for the better without him. The big issue is whether it will change fast enough to avoid the worse effects of climate change. Most of the world and significant parts of our country are moving forward to cut emissions and switch to renewable energy and energy efficiency. These alternative forms of clean energy are here to stay. Their costs are dropping dramatically and they employ more people than fossil fuels in nearly every state. Clean energy jobs outnumber fossil fuel jobs by more than 2.5 to 1 according to the Department of Energy.
It is tragic that the President could have done so much good for so many. He could have helped to create more jobs, protect more Americans from fossil fuel pollution and made our economy more competitive on the world stage by supporting and even accelerating our move to clean energy. Instead, he has slowed down the momentum, created confusion in the business community and thrown more people, businesses and homes in harm’s way. He also has exposed American businesses to a possible trade tariff on our exports.
In spite of the President’s injudicious action, we are in the midst of a dramatic change and much is happening that moves us in the right direction. Some watchers are even optimistic that our nation may meet its Paris Climate Accord reduction target despite the President's withdrawal. I don’t know, but I am resolved to remain optimistic.
What I do know is that not participating in the global effort to cut carbon emissions hurts real people in very serious ways. We need to pray for our President, speak out, demand better and act wisely.
by abby mohaupt
The Reverend abby mohaupt is the moderator of Fossil Free PCUSA. She is a PhD student in the Religion, Culture, and Ecology program at Drew Theological School in Madison, NJ.
I’m sitting now in a café, drinking café Americano, after talking with one of the teachers at the Spanish school I’m attending. To say that our conversation about future tense went off track would be an understatement. At some point, we began to talk about climate change. We talked about how some people don’t believe in it and that we are afraid about the future.
And then I asked her about the Paris Accords, and how people in the United States talk about how Nicaragua also didn’t sign, but because it believes the Accords weren’t strong enough.
She asked me about the power of money—and if I believed in it.
She asked me if I believed that a country like Nicaragua—ready to sell itself to China for a canal in its big fresh water lake—really was better than any other country, with higher standards for climate change.
She asked me if I remembered that they’ve had the same president for decades, and that while my president will do dumb things, we can get rid of him in four years if we want to. They won’t.
She wondered why Nicaragua—a small country (her words)—couldn’t just sign the document with all the other countries. What would it hurt to work with the rest of the world in the face of global crisis?
We sat together, pondering those questions, looking for hope.
So, that’s the perspective of one person from Nicaragua, telling her own story about her country and climate change. It's a perspective that challenges my perspective and how I tell the story as an American, and I'm grateful.
From June 16:
Tomorrow I will board a plane to travel to Nicaragua for the third time in three years. The first two trips were part of a class I co-taught at Stanford University on Liberation Theology. My colleagues and I took about ten students each trip to visit with Christian base communities and to hear their stories. We also met with eco-activists and went to visit Lake Nicaragua, which has been threatened with a canal that would destroy the ecosystems dependent on the lake.
There are two stories from those trips that have stuck with me and emphasize some of the environmental issues in the country.
The first is from one of the base communities in a small town. The community told us about how they’ve been there since the revolution (which led to land reform and access to land for people who are poor) but that they have struggled to access clean water. There was a pipeline to a water tank, but the owner of the water tank refused to give the community access to the water despite years of negotiations. Instead, he blew up the tank. Sitting with the community as they told this story, I was struck by the hospitality and care the community showed us, even as they struggled for something as necessary to life as water. What would my mentality be if I were struggling for life?
The second story is from our visit to Lake Nicaragua our second year. One of our master’s level students was interested in doing her thesis on the canal, and so had done a lot of additional research on the efforts to save the lake. She was prepared to see the beautiful lakeside, a place that had inspired environmental activism. On our trip, we drove to the lake via the highway and entered a park where there were many families gathered to picnic. We went on a boat ride and swam in the lake, but when I turned to look at this particular student, she was crying. “I thought it would be pristine,” she said. “But there’s litter here too. I wanted it to be perfect.” Together we reflected on how the lake was worth fighting for even if people littered the land around it and perhaps because the place was well-worn. Still, her tears and her hopes for a place worth saving have stayed with me. I have wondered what it means to care for a place.
My trip to Nicaragua this year is on the heels of a U.S. Presidential decision that connects these two countries. The United States joined Syria and Nicaragua as the only three countries who will not be part of the Paris Accords.
Nicaragua did not sign the Paris Accords because its government felt that agreement was not strict enough, and that the agreement did not hold governments in the developed world accountable for their disproportionate contributions to climate change.
Climate change has created sacrifice zones, areas that will be destroyed or altered as temperatures and sea levels rise. In her book This Changes Everything Naomi Klein describes sacrifice zones as isolated, poor places where “residents lack political power, usually having to do with some combination of race, language and class.” These are places and people that have been written off by privileged people. This dismissal is what the Nicaraguan government believes the Paris Accords continue.
There have been some efforts at responding to the inequity and to creating a solution. The Greenhouse Development Rights were created to “recognize the West’s greater responsibility for climate change.” Such a treaty understands the lighter responsibility of countries that are not in the developed West and begins to balance the political scales of global power. It and other economic endeavors like the “Marshall Plan for the Earth” also seek to address the injustice of how industrializing countries “whose people have contributed little to the climate crisis” must give up future development in the reality of climate change. This concept of climate debt is intimately connected with global economic and political power. Naomi Klein describes it as such:
The climate is changing as a result of two-hundred-odd years of accumulated emissions, that means that the countries that have been powering their economics with fossil fuels since the Industrial Revolution have done far more to cause temperatures to rise than those that just to in on the globalization game.
Understanding the difference in responsibility for climate change requires recognizing and listening to contexts and the people in them. It also requires a willingness to understand global power and assumption.
This trip to Nicaragua, I will spend the bulk of my time in language school, so that I can better listen to the stories of the people. But I’ll also be exploring a variety of industries and interviewing several people who dream of a world that is more just. I’ll spend time learning more about a place in this world that is worth protecting—as this whole planet is.
 Naomi Klein. This Changes Everything (New York, NY: Simon and Schuster, 2014) 310.
 Klein 417.
 Klein 409.
by Gary Payton
On Thursday, June 1st, the car I was traveling in was T-boned at an intersection by an extraordinarily reckless driver. The vehicle was damaged but drivable, and I’ve moved on from the scene of the accident with greater wisdom and resolve. The vehicle? The global climate movement. The other driver? Well, let’s just say he used to be in real estate.
The details of President Trump’s Paris Agreement withdrawal announcement are now all too well known to us. So, in the days since the Rose Garden “car wreck” I’ve reflected deeply on my own climate movement journey and where I go from here.
In December 2015, I attended the UN Conference of the Parties (COP21) as an official “observer” with the support of the PCUSA’s Office of Environmental Ministries. My goal was to “bear witness” to the critical negotiations and share that story via the PCUSA’s Eco-Justice Journey blog, the Idaho Conservation League, and public presentations. As an environmental advocate, for months I’d prepared “in my head” – studying the UN processes, absorbing the environmental positions of multiple nation states, and deepening my knowledge of the impacts of climate change.
The reality of Paris, however, changed my outlook forever. It was the “in the heart” experiences which took me to a different place. For years, I’d written and spoken in future tense of climate change and its impacts. I regularly framed remarks in the context of my two grandchildren and the world they’d experience in decades to come. My days at COP21 radically altered that framework. Paris shook me out of my comfortable American perspective and introduced me personally to the suffering of sisters and brothers happening today from climate change.
Over a modest lunch with a Maryknoll sister from the Philippines, I heard her personal story of on-going ministry with the victims of Typhoon Haiyan in 2013. The most violent cyclone or hurricane to ever hit landmass killed over 6,000 men, women, and children; destroyed whole communities; and, injured and displaced tens of thousands more. Haiyan’s strength came from warmer waters in the Northwest Pacific exacerbated by climate change.
Standing in a circle of young activists from Southern Africa, I spoke with Michael Haduyu who was part of a team which had bicycled 8,000 kilometers through 8 countries carrying the message of climate change impacts. All along the route, he and team members urged the nations’ negotiators to remember the common people displaced by crop failure, drying rivers, and altered rain patterns – impacts directly affecting the lives of people who in no way were major contributors to the greenhouse gas emissions changing our world.
I listened respectfully to Anote Tong, the President of Kiribati, as he described the dire circumstance of his Pacific island nation being consumed by rising ocean water – the destruction of culture, the disappearance of homes and communities, and the displacement of an entire population. Described as “a disaster that never goes away,” the expectation is that the island nation will completely disappear in the lifetime of its youngest citizens. Sea level rise: a direct result of climate change advanced by melting polar and glacial ice worldwide.
What distressed me most in the Rose Garden announcement was the total disregard for the fate of citizens of the world, anyone outside the United States. I found the callousness, the arrogance, to be overwhelming. In the name of jobs and American industry we would willing withdraw from the Agreement, further alienate tens of millions of global citizens, and risk accelerating some of the worst coming impacts of climate change?
I said I’d walked away from last week’s “car wreck” with greater resolve and wisdom. My reflections come in the form of questions which you may be asking yourself.
May we each go from the shock of June 1st with greater wisdom and resolve as we heed “the cry of the earth and the cry of the poor.”
by Sue Smith
Sue Smith is the Vice-Moderator of Presbyterians for Earth Care, a member of the First Presbyterian Church of Rumson (NJ), and a GreenFaith Fellow.
I have to admit, when I read the Presbyterian News Service story, Faith-based investors gain ground with ExxonMobil on climate change, my first thought was that this could be the death knell of fossil fuel divestment. It sounded like the proof that having a seat at the table was the most important thing. However, on closer look, this actually could be a new beginning for the divestment movement.
Let’s look at the proposal itself. The article states that the proposal urges “ExxonMobil to better assess the company’s climate change related risks.” That is true. It goes on to say, “The proposal calls on the oil giant to align itself with the 2015 Paris Climate Agreement asking for a global target of keeping global temperature rise to 2 degrees C or less.” This is not exactly what the proposal calls for. Here is the proposal:
RESOLVED: Shareholders request that beginning in 2018, ExxonMobil publish an annual assessment of the long-term portfolio impacts of technological advances and global climate change policies, at reasonable cost and omitting proprietary information. The assessment can be incorporated into existing reporting and should analyze the impacts on ExxonMobil’s oil and gas reserves and resources under a scenario in which reduction in demand results from carbon restrictions and related rules or commitments adopted by governments consistent with the global agreed upon 2 degrees target. This reporting should assess the resilience of the company’s full portfolio of reserves and resources through 2040 and beyond, and address the financial risks associated with such a scenario.1 (Emphasis the author’s)
This proposal calls on Exxon Mobil to report, not do, not align.
The Presbyterian Church’s Office of Faith Based Investing and Corporate Engagement, and other faith-based investors, must be commended for their work on this issue. They are the ones that kept talking with the company, kept bringing shareholder resolutions. It was this hard work that finally brought the institutional investment management firms, who normally vote with management, to the table to push management to change their ways. But make no mistake, it was the institutional investment management firms that got the vote to the 62%. And the reason the church was behind the proposal is very different from the institutional investors.
The press said that BlackRock voted against management and Vanguard had likely done the same.2 This is how BlackRock and Vanguard make proxy decisions:
BlackRock votes (or refrains from voting) proxies for each Fund for which it has voting authority based on BlackRock’s evaluation of the best long-term economic interests of shareholders.3
Vanguard: The overarching objective in voting is simple: to support proposals and director nominees that maximize the value of a fund’s investments—and those of fund shareholders—over the long term.4
Compare these to the stated purpose of the PCUSA engagement: “We believe Jesus Christ is at the heart of everything we do, and that includes how we invest our money. As ambassadors of the values and ethics of the Presbyterian Church (U.S.A.), MRTI works to ensure that the companies included in the portfolios of the Board of Pensions and Foundation understand the mission goals set by the General Assembly and hopefully work towards aligning their policies and practices to them.”5
Two very different values – maximizing value for shareholders versus maximizing the values of the Jesus we follow.
The big win is this – the large institutional investment management firms are now at the table. They will push ExxonMobil, because at the end of the day it is shareholder value that ExxonMobil will respond to. Where does this leave faith-based investors, including the PCUSA? I believe there is now no room for them at the table. The big boys are seated there now. The PCUSA provided the prophetic witness to get them at the table.
Now it is the time for a new prophetic witness. Let the big boys move ExxonMobil to do the right thing regarding renewable energies. That is the future of shareholder value. The church now needs to raise its moral voice more than ever. The church can no longer invest in the fossil fuels that ruin God’s good creation. In Genesis, “God said, ‘Let us make humankind in our image, according to our likeness; and let them have dominion over the fish of the sea, and over the birds of the air, and over the cattle, and over all the wild animals of the earth, and over every creeping thing that creeps upon the earth.’” (Gen. 1:26. NRSV). We were not given dominion over the very fundamentals of creation – air, water, earth, and firmament. It is not OK for us to ruin those very fundamentals.
As followers of Jesus we are called to go out to the ends of the earth. We are not called to sit in the upper room looking at our shareholder value. Remember the words of Paul, “Beloved, I do not consider that I have made it my own; but this one thing I do: forgetting what lies behind and straining forward to what lies ahead, I press on toward the goal for the prize of the heavenly call of God in Christ Jesus.” (Phil. 1:13-14, NRSV). The future is renewables. It is time to divest from fossil fuels and strain forward to the future of renewables.
1 ExxonMobil 2017 Proxy Statement, http://ir.exxonmobil.com/phoenix.zhtml?c=115024&p=irol-reportsproxy, accessed June 4, 2017.
2.https://www.washingtonpost.com/news/energy-environment/wp/2017/05/31/exxonmobil-is-trying-to-fend-off-a-shareholder-rebellion-over-climate-change/?utm_term=.23eae5c62e6a, accessed June 4, 2017
3 https://www.blackrock.com/corporate/en-br/about-us/investment-stewardship/voting-guidelines-reports-position-papers, accessed June 4, 2017.
4 https://about.vanguard.com/vanguard-proxy-voting/voting-guidelines/, accessed June 4, 2017.
5 https://www.presbyterianmission.org/story/0617-invest/, accessed June 4, 2017.
by Sue Smith
Sue Smith is the Vice-Moderator of Presbyterians for Earth Care, a member of the First Presbyterian Church of Rumson (NJ), and a GreenFaith Fellow.
I still get emotional thinking about it. On October 14, 2016, the Synod of the Northeast of the Presbyterian Church (USA) overwhelmingly approved a commissioner’s resolution brought by Rick Ufford-Chase and me to divest from fossil fuels. While I am thrilled with the outcome, that is not what makes me emotional. It was the grace-filled conversation that evolved in the course of the debate.
Advocating for the resolution, I tried to address the questions that I consider noise in this debate by using my own divestment decision as an example. We still drive gas-powered automobiles; until there is less oil extracted from the ground and car manufacturers are forced to find other means of powering cars or we build up our public transportation infrastructure, most of us will be driving cars. We lose our seat at the table; look at the history of Exxon’s response to shareholder resolutions, our seat is meaningless. It doesn’t matter, someone else will buy the stock; true, we live in a market economy, anyone can buy any investment they want.
But I am a Christian who loves the awe-filled story of creation in Genesis 1 and the intimate story of creation in Genesis 2, and who takes seriously the call in both of those stories to steward, care for and tend all of creation. In the end, the only question that mattered for me, and the one I posed to the assembly, was, do we fund our futures owning companies that have in their hands the oil & gas reserves that can do great damage to our communities and all of creation?
Rick talked about the history of the grassroots movement for fossil fuel divestment in the Presbyterian Church, and spoke to the inevitability of approval, most likely at the next General Assembly. Rick also answered the other question that always seems to come up: what do we say to our members who work in the fossil fuel industry? His answer spoke to the dichotomies around this issue. If we don’t do this, what are we saying to all the people around the world who are being harmed by the growing use of fossil fuels? And yes, we have to show care for our people whose jobs may be affected by the transition to renewable energy.
But here the conversation changed. Harold Delhagen, the Synod Leader, first made a statement to the effect that it is easy to divest – sell the stock; there are plenty of other stocks to meet investment objectives. It is a one-time event. What do you do afterwards to address the hard questions around the issues raised by climate change and environmental degradation? That became the focus of the conversation - imagining the possibilities of what we could be and do. Divestment was non-contentious. A very different divestment conversation from any that I had been part of previously.
The Synod has a structure that allows for this conversation of possibilities to continue beyond the assembly, Synod Networks. These are “ways people gather together to move our ministry and church forward. They are spaces where we gain strength, share resources and educate ourselves and others.” That night five of us gathered to start the formation of a new network: the Clean Climate Network. Our vision is to be a “Carbon Neutral regional faith community that inspires other faith communities and regions. To support the Synod in becoming a leader in claiming our moral voice to combat climate change.” It was an energy-filled discussion.
I have learned to look at divestment differently through this experience. Divestment is a clear pronouncement that the harm being done to God’s creation by our fossil-fueled economy is an important issue for the church and for individuals. More important is the work that needs to be done afterwards. How are we church in the face of environmental degradation and climate change? How do we minister to the communities that suffer from the results? How do we pastor to people who lose jobs in a changing economy? How do we inspire congregations and individuals to live more lightly on the earth? How are we to be true stewards of all of God’s creation?