One week after the Anglican Diocese of Perth announced that it will divest from fossil fuels, Canberra has also decided to divest from the coal, oil and gas companies responsible for climate change.

“The Anglican Church of Australia views climate change as a deeply moral issue," said Dr Beth Heyde, chair of the Public Affairs Commission of General Synod. 

"In July General Synod acknowledged with deep regret that it is future generations and other forms of life who will bear the real cost of our heavy dependence on carbon-based energy, recommending that all dioceses review the ecological sustainability of their investments.”

Following these recommendations, the Canberra and Goulburn Diocese reviewed its investments and voted to exclude from its investment portfolio companies that are principally involved in fossil fuel extraction and/or have large ‘downstream’ fossil fuel exposure in energy generation, fossil fuel pipelines or other dedicated fossil fuel transport.

“The diocese accepts that it is both ethical and responsible to divest from fossil fuel stocks," Dr Heyde said.

"The concerns of the Church about the social justice issues of climate change, due to fossil fuel consumption, will also be communicated to other relevant companies in the diocesan portfolio.

“The urgently needed shift away from fossil fuels will not occur without intense, sustained public pressure. Our local action is part of an accelerating global movement that is underpinning expressions of concern about climate change with divestment action.”

The Canberra announcement comes just two weeks after the Australian National University announced it will divest from a handful of mining companies including gas company Santos and oil company Oil Search.

“I commend the ANU’s step towards fossil fuel divestment and look forward to further divestment announcements from institutions in the nation’s capital, Australia and globally. It simply makes no sense to profit from climate change,” Dr Heyde said.

The past week has also seen divestment commitments from Melbourne’s Moreland City Council, $8bn super fund Local Government Super and Glasgow University.