The Moral Argument to Divest from Fossil Fuels

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Jenny Phillips, Coordinator of Fossil Free UMC, with Bill McKibben, a United Methodist Sunday School teacher and Coordinator of 350.org

My prayers are with my friends and colleagues who will be at the upcoming United Methodist General Conference, working to pass legislation to screen fossil fuels out of United Methodist investment portfolios.  There are both economic and moral reasons to do so.

The economic argument is that investors in fossil fuels face “stranded assets” and the resulting financial loss as coal, oil, and gas companies are unable to extract and burn all the reserves upon which their projected profits and stock values are based.  United Methodists advocate for strong environmental regulations and a widespread switch to renewable energy sources, but if these changes take place, many of the reserves will be unavailable.  Furthermore, as we have seen with the bankruptcy of Peabody Coal and the recent downgrading of Exxon Mobil stock, it is quite clear that market forces related to fossil fuels are volatile.

Still, the moral argument is strongest:  it is wrong to profit from wrecking the planet.  Ending our addiction to fossil fuels should override arguments based on economic self-interest or the economic interests of our denomination.

As United Methodists and as followers of Christ, we should have no part in investments in fossil fuels, which pollute the atmosphere with the persistent greenhouse gases that are causing climate change, bringing disaster upon people, harming creation, and foreclosing the future.  Rather, we should be investing ourselves and our money in renewable, life-sustaining, and regenerative enterprises.  By doing so, we step away from institutional complicity in destroying creation, affirm our deepest values, and offer a vision of hope for a transformed world.

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