Calling fossil fuel investments sinful, global interfaith coalition outlines moral standards for climate finance

The World Council of Churches and other international faith organizations are pressing the financial industry to adopt a set of moral standards to address climate change that would steer assets away from fossil fuels and deforestation and make portfolios excluding both the default option for clients.

And they're inviting other religious congregations to join the push through their local banks and fund managers.

At least 10 groups, including Faith for Climate Network and Laudato Si' Movement, on Feb. 24 outlined five moral standards for climate finance and requested that all asset managers worldwide adopt and implement them. Among their main targets: BlackRock and Vanguard, two of the largest investment asset managers in the financial world.

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