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HOME Opinion / Commentary NEWS Wrecking the climate is bad business YOUR TORONTO As concern for “climate justice” grows, faith groups and other communities are looking at ways to ensure their funds are not invested in fossil fuel companies. OPINION Editorials Tw eet 95 0 Commentary Readers' Letters Public Editor Corrections Editorial Cartoon

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RICK MADONIK / FILE PHOTO Updated Ford’s bid to rush approval of The international fossil fuel divestment campaign has gained a toehold in Toronto. Last month, island airport plan denied Trinity-St. Paul’s United Church unanimously voted to ensure that its own funds are not invested Updated Dustin McGowan will start for Jays in the world’s 200 largest fossil fuel companies. in home opener What is ‘conscious uncoupling'? April Reimer's Twitter horror story familiar By: Stephen Bede Scharper Christianity, Published on Mon Mar 24 2014 to women: Mallick “It’s wrong to profit from wrecking the climate.”

So declares the moral shibboleth powering an international fossil fuel divestment campaign, which recently found a toehold in downtown Toronto. April Reimer's Twitter horror story Last month, Trinity-St. Paul’s United Church unanimously voted to ensure that its own familiar to women: funds are not invested in the world’s 200 largest fossil fuel companies. Mallick The vote emerges from a growing concern over “climate justice,” which asserts that while wealthy industrialized nations are the most responsible for carbon emissions engendering climate change, the most destructive effects of climate change are often The Grid: What it's like to give birth at home-- felt by impoverished groups who are the least responsible for global warming. when you weren't planning to

Dustin McGowan to Groups such as 350.org, spearheaded by U.S. environmentalist Bill McKibben, are start Jay s' home advocating the divestment option, and through its Toronto chapter have recently opener petitioned the to also divest its fossil fuel investments. The Kit: Stylish wellies you won't be Ireland: Canadian-Irish For Jeanne Moffat, a member of the Trinity-St. Paul’s Climate Justice Group who embarrassed to wear search for their roots advanced the motion, failure to act on the issue would violate the community’s “call to justice.”

Moffat claims that it is time to signal large fossil fuel companies that their “social Building an education license” to continue on this deleterious road has “expired.” in the trades Double the fun http://www.thestar.com/opinion/commentary/2014/03/24/wrecking_the_climate_is_bad_business.html 1/5 3/26/2014 Wrecking the climate is bad business | Toronto Star For Moffat, in light of increasing fossil fuel emissions, “courageous moral leadership” is needed to address our “moral duty” to future generations.

While Trinity-St. Paul’s is the first Christian congregation in Canada to divest from the fossil fuel industry, it joins other religious groups around the globe taking similar action, including the United Church of Christ (Massachusetts Conference) in the U.S., the Auckland Diocese of the Anglican Church in New Zealand, and the Uniting Church of New South Wales and the Australian Capital Territory.

Moreover, the Church of England recently passed a motion to consider redirecting its investments in an effort to confront climate change.

According to the Church of England’s official statement, the passing of the motion seeks to ensure that the church’s investment policies are “aligned with the theological, moral and social priorities” of the church on climate change. Editorial Board Describing the threat of climate change as a “giant evil,” Right Rev. Stephen Croft, Bishop of Sheffield, last month proclaimed that the vast devastation of “this great Meet the Star’s editorial board demon,” if unchecked, is “unimaginable.” The Atkinson Principles The Anglican Church currently has holdings of US$8.5 billion with Royal Dutch Shell, British Petroleum, BHB Billiton, a mining and petroleum company, and mining firm Rio Tinto among its top 10 investments. The Star's Public Editor

Interestingly, while faith groups and other concerned communities are rejecting or The Star's Public Editor welcomes reader comments and complaints about news and questioning such investments for moral reasons, others are reconsidering them from a feature content in the print and online editions. strictly financial vantage. About the Public Editor University of Toronto adjunct professor and Mercer Ltd. partner Jane Ambachtsheer in a recent conversation noted that many investors are wondering how climate change Recent Corrections will affect their investments, and are seeking investments that will optimize their Report an Error “retirement security.”

For Ambachtsheer, a key question is whether the issue of climate change can be Most Popular addressed in a manner that “maintains (or enhances) long-term investment objectives” while also responding to stakeholder concerns. Comics

In a May 2013 Mercer report entitled “Fossil Fuel: To Divest or Not to Divest Is Not Malaysia plane crash: Satellite spots 122 Video the Right Question,” co-written by Ambachtsheer, the complexities and risks of fossil objects in ocean that could be plane debris fuel divestment are explored. The report concludes investors can consider climate change and sustainability issues “within the context of their current investment Man who defrauded LCBO sentenced to 45 structure and objectives.” months in penitentiary Perhaps “divestment,” in the long run, might eventually be viewed as “reinvestment” in NDP wants probe of Pan Am security sustainable and life-giving social and commercial enterprise. contract that went to U.S. firm As recent reporting by Carol Goar in these pages has suggested, the clean technology Mayor Susan Fennell altered her industry in Canada, with as its epicentre, now employs more than the forestry, 2013 pay ahead of salary report release aerospace and pharmaceutical industries, generating 2,300 jobs alone last year, upping the total number of jobs to 41,000. This industry spawns $5.8 billion in export April Reimer's Twitter horror story familiar revenues, is tops in research and development investment and exhibits promising to women: Mallick resilience, continuing to show growth even during the 2008-2009 financial debacle. The wolves are howling for Carlyle's blood. The fossil fuel divestment moves by Trinity St. Paul’s and the investment risks posed Are they right? by climate change in the Mercer study both point to the wisdom of moving away from a Malaysia Airlines: Relatives’ anger boils over climate changing, fossil fuel extracting economy to a life-affirming, clean and more at officials: ‘It’s all lies. Not a shred of truth!’ equitable financial — and moral — environment. Jennifer Pan murder trial: Father woke up It turns out wrecking the climate is bad business all around. with gun to his head: DiManno Stephen Bede Scharper is associate professor of environment at the University of Rob Ford’s bid to rush approval of island Toronto. His column appears monthly. [email protected] airport plan denied

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