Filipino bishops pledge to divest from ecologically destructive companies, institutions

The Catholic Bishops' Conference of the Philippines (CBCP) has announced its decision to distance itself from organizations involved in ecologically destructive practices.

CBCP President and Kalookan Bishop Pablo Virgilio David reaffirmed their commitment to divest from financial institutions engaged in anti-life industries such as extractive mining and illegal logging.

This decision emerged from the CBCP's mid-year plenary assembly, held from July 6 to 8, resulting in several ecological resolutions.

Bishop Gerardo Alminaza, vice president of Caritas Philippines, noted that they have published scorecards in recent years to identify financial institutions the Church should avoid.

“In 2022, we made it clear that without explicit policies moving away from fossil fuels like coal and gas, by 2025 we will be forced to withdraw our savings or investments from them,” explained Bishop Alminaza.

Bishop David clarified that the focus is on the investments of Church institutions, not the personal savings of the bishops.

Additionally, the CBCP has vowed not to accept donations from individuals and companies involved in environmentally harmful businesses.

The conference is working on finalizing a list of such companies and has encouraged the faithful to help identify those profiting from anti-ecological projects.

Bishop Alminaza emphasized ongoing dialogues with willing companies to promote better environmental practices.

Moreover, the CBCP agreed to co-sign a joint letter requesting the Vatican to celebrate the Feast of Creation in unity with other Christian churches.

They also decided to elevate the existing ecology desks in each diocese to integral ecology ministries.

Bishop David announced that the CBCP will soon release a pastoral statement supporting ecological solid waste management efforts by government and non-government agencies.