1. …for creation Moving Beyond Fossil Fuels Faith Communities and Fossil Fuel Divestment

2. …for creation Desmond Tutu on Climate Change

3. …for creation Desmond Tutu FREEZE NEW FOSSIL FUEL EXPLORATION HOLD THOSE RESPONSIBLE FOR CLIMATE CHANGE ACCOUNTABLE ENCOURAGE GOVERNMENTS TO STOP ACCEPTING FOSSIL FUEL MONEY DIVEST FROM FOSSIL FUELS AND INVEST IN A CLEAN ENERGY FUTURE

4. …for creation

5. Divesting from Fossil Fuels > 300 Colleges & Universities Dozens of cities & counties Denominations worldwide Individual churches Endorsements Commitments www.gofossilfree.org http://greenfaith.org/programs/divest-and-reinvest

6. …for creation

7. www.fossilfreepcusa.org

8. …for creation What do Presbyterians Divest From? Alcohol Tobacco (Gambling) (Pornography) Human Rights (Apartheid) WMDs Nuclear Weapons Chemical / Biological Weapons Assault Weapons http://www.pcusa.org/resource/2014-general- assembly-divestment-list/ http://www.pcusa.org/resource/2014-general- assembly-divestment-list/

9. …for creation Historical Categorical Divestment Phased Selective Divestment Divestment Principles and Criteria – http://www.presbyterianmission.org/media/uploa ds/mrti/pdfs/1984_&_1985_divestment_strategy _policy_&_south_africa_policy.pdf pp 29,30 http://www.presbyterianmission.org/media/uploa ds/mrti/pdfs/1984_&_1985_divestment_strategy _policy_&_south_africa_policy.pdf How do we divest?

10. …for creation Seven Criteria for Divestment 1.The issue on which divestment is proposed should be one reflecting central aspects of the faith. 2.The issue on which divestment is proposed should be one that the church has addressed by a variety of educational and action efforts, such as: – Correspondence with companies – Discussion with company managers and directors – Statements, questions, and shareholder resolutions at stockholder meetings – Legal action against companies 3.The analysis supporting the proposed action: – Should be clearly grounded in the church's confession and unambiguously present in the social policy of the General Assembly – Should clearly define the behavior and stance of the corporate entities whose policies or practices are at issue – Should state the ends sought through divestment

11. …for creation 4.The decision should be taken after consultation with the ecumenical community, whenever possible. The implementation of a divestment action should ordinarily be in solidarity with other Christian bodies. 5.Efforts should be made to examine the probable effects and consequences of the action with affected communities, particularly Presbyterians. 6.The proposed action should be sufficiently precise that the effect of its application can be evaluated. 7.Any proposed divestment action should include provision for: – Informing appropriate church constituencies – Giving appropriate public visibility to the action – Engaging other governing bodies and members in advocacy for the ends that prompt the divestment – Giving pastoral care to those directly affected. Seven Criteria for Divestment

12. …for creation Mission Responsibility Through Investment – Presbyterian Foundation – BOP – ACSWP – ACREC – ACWC – PMA – at-large Who is MRTI? Alphabet Soup…

13. …for creation Presbyterian Foundation: ~$1.7 Billion Board of Pensions: ~$8.6 Billion How much money?

14. …for creation BOP Holdings, Dec 2014 CompanyBOP Market Value% BIP Royal Dutch Shell19,996,784$ 0.231% Total15,801,562$ 0.183% BP11,111,088$ 0.129% Apache8,386,576$ 0.097% Chevron7,582,074$ 0.088% Occidental7,206,794$ 0.083% Suncor Energy6,744,648$ 0.078% ConocoPhillips6,290,985$ 0.073% Vale5,730,932$ 0.066% Rio Tinto5,556,856$ 0.064% Exxon Mobil5,041,714$ 0.058% BG4,474,587$ 0.052% Tullow Oil4,366,113$ 0.051% EQT3,908,358$ 0.045% Pioneer Nat’l Resources3,893,694$ 0.045% ENI3,689,935$ 0.043% Southwestern Energy3,616,492$ 0.042% Canadian Nat’l Resources3,534,185$ 0.041% CLP Holdings3,477,469$ 0.040% CompanyBOP Market Value% BIP Inpex3,357,718$ 0.039% Range Resources3,230,606$ 0.037% Woodside Petroleum3,001,368$ 0.035% Itochu2,903,080$ 0.034% BHP Billiton2,765,448$ 0.032% Hess2,385,886$ 0.028% EOG Resources1,824,971$ 0.021% Talisman Energy1,765,396$ 0.020% Marathon Oil1,737,425$ 0.020% Pacific Rubiales Energy1,309,345$ 0.015% Continental Resources1,114,079$ 0.013% FirstEnergy1,095,740$ 0.013% Ultra Petroleum998,907$ 0.012% Consol Energy916,374$ 0.011% Cenovus Energy814,990$ 0.009% Anadarko Petroleum591,328$ 0.007% Noble Energy471,954$ 0.005% Encana212,211$ 0.002% Totals 37160,907,670$ 1.86%

15. …for creation Members  Congregations / Sessions  Presbyteries (at least two!)  General Assembly Committees – decision / referral Plenary Vote What’s an Overture?

16. …for creation Who agreed on Fossil Fuel Divestment?

17. …for creation The Fossil Fuel Divestment Overture (1) Overture 1. Express its profound concern… 2.a. stop new direct investments 2.b. divest the rest in three years 2.b.i. work with managers 2.b.ii. Establish fossil free options Commentary same as 2014 don’t buy more shares in specific fossil companies the clock keeps ticking… “the rest” is defined by the Carbon Underground 200 most investing is done through fund managers; they must create the products we want Foundation has already done this; harder for the Board of Pensions

18. …for creation The Fossil Fuel Divestment Overture (2) Overture 2.b.iii. Seek out renewables 2.b.iv. continue shareholder engagement 2.b.v. don’t make stupid choices Commentary Many divestment actions call for reinvestment; similar to positive investment in Palestine; limited options This is BIG! MRTI constantly says we can’t “lose our seat at the table. ” It only takes $2000. Investment institutions have a legal ‘fiduciary duty’ to act in the best interest of their clients

19. …for creation The Fossil Fuel Divestment Overture (3) Overture 2.c. Report on your progress 3. Call upon the Stated Clerk 4. provide instructional materials Commentary We want to know how it’s going We want the fossil fuel companies to know what we’re doing. Teach everybody, from members to congregations to presbyteries. All of the above is appropriate here.

20. …for creation