Christian Climate Action

Church of England – please exit Exxon!

Join us: Church House, Wednesday 26 May, 2:30pm

On 26 May, the day of the Exxon AGM, Christian Climate Action will be asking and praying for the Church Commissioners of England to ‘exit Exxon’ and divest from all fossil fuels immediately.

Prayer action is happening outside Church House at 2.30pm on Wednesday 26 May, just before the Exxon Mobile AGM, to pray for the Church Commissioners to divest from Exxon Mobile and to invest instead in funds that promote the common good. All are welcome.

Church-goers outside London are being encouraged to silently meditate outside their local Anglican parish churches, publicly calling for the Church to ‘exit Exxon’. Posters and leaflets to explain the vigil are available to download and print.

WHY ARE WE DOING THIS?

HOW CAN YOU GET INVOLVED

Church Commissioners for England

Church House

31 Great Smith Street

London

SW1P 3AZ

Email: commissioners.enquiry@churchofengland.org

WHAT DID THE CHURCH OF ENGLAND SYNOD AGREE TO DO?

In July 2018, the Synod agreed:

‘to divest by 2023 from oil and gas companies not on track to meet the Paris Agreement target of limiting global average temperature rise to well below 2°C’ and that that the Church would begin in 2020 to divest from companies ‘not taking seriously their responsibilities to assist with the transition to a low carbon economy’.

There is not a shadow of a doubt that Exxon Mobile is not taking seriously their responsibilities to assist with the transition to a low carbon economy. Even the Church of England Pensions Board agrees with us and sold all their holdings of Exxon Mobile in October last year because the oil giant failed to set goals to reduce emissions produced by its customers. 

WE HAVE TO STOP DIGGING

Last week the IEA said, “if governments are serious about the climate crisis, there can be no new investments in oil, gas and coal, from now – from this year.”

Yet Exxon Mobile plans to spend $120 billion on new oil and gas in the next 5 years.

Exxon Mobile’s own assessment of its $210 billion investment strategy shows yearly emissions rising 17% by 2025, according to internal projections.

OTHER REASONS TO EXIT EXXON

CALL OFF THE ENGAGEMENT!

The Church Commissioners’ engagement with Exxon Mobile currently comprises supporting an ESG-focused fund, Engine No.1, which nominated four alternative directors to the board with experience in energy transition and innovation. Whether or not these directors are voted in at the AGM we say it is time to call off the engagement with Exxon Mobile and divest.

The Exxon Mobile AGM is 9.30am Central Time on 26 May, which is 3.30pm in the UK.

To find out more about how oil companies are ‘Paris defiant’ see the following report produced by Operation Noah and Bright Now: Church investments in major oil companies: Paris compliant or Paris defiant?