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Laudato Sií Reflectiedag

Catholics in support of a sustainable financial system

gepubliceerd: vrijdag, 22 juni 2018
Laudato Sií Reflectiedag

In his opening speech, Jean-Claude Hollerich SJ, Archbishop of Luxemburg and
President of COMECE and «Justice and Peace Europe», insisted on the timeliness of
the event in the immediate aftermath of a recent legislative proposal by the
European Commission and last week’s report of the European Parliament on
sustainable finance. He also referred to the recent Vatican document on the
present economic-financial system, which includes a call for a sustainable
management of savings.
 
Mrs Molly Scott Cato, MEP and rapporteur of last week’s own-initiative report on
sustainable finance, insisted on a dynamic approach regarding the sustainability
of financial products. She also stressed the important role of public financial
institutions like the European Investment Bank in this respect.
 
Mr Martin Spolc (EU Commission) presented the action plan for sustainable finance
and the preparatory work on the taxonomy for a clear and common language across
Europe that could help to avoid the «green-washing» of financial products for
marketing reasons.
 
Ms. Lorna Gold, from the Irish Catholic Development organisation Trocaire and
Vice Chair of the Global Catholic Climate Movement, called for coherence in an
era of climate change and discussed ethical investment as a challenge for the
Church. She also presented the Catholic Divest-Invest Project, inviting Catholic
institutions to start an internal process on fossil fuels divestment and to join
other Catholic institutions worldwide in taking a strong prophetic stand for our
common home.
 
In the afternoon session, best practises coming from a Catholic diocese, a
Catholic bishops’ conference, a religious order and a Catholic bank were
presented.
 
Participants formulated a number of recommendations, which will be presented to
the Laudato Si’ anniversary conference (Vatican, July 2018).
 
They also suggested that the Catholic Church should pay more attention to the
social and environmental injustices caused by an economic and financial system
solely based on short-term profit.
 
As Pope Francis wrote in his encyclical letter Laudato Si’: "We are faced not
with two separate crises, one environmental and the other social. Strategies for
a solution demand for an integrated approach to fighting poverty, restoring
dignity to the excluded, and at the same time protecting nature." (LS 139).
 
As a concrete way to “hear both the cry of the earth and the cry of the poor”,
participants suggested that more and more Catholic organisations and movements
commit themselves to start an internal process on fossil fuels divestment and,
thus, join other Catholic institutions worldwide in taking a strong prophetic
stand for «our common home».
 
In this regard, one forthcoming occasion is the Catholic Divestment Announcement
that will be held during the Global Climate Action Summit in San Francisco, on
September 12-14, 2018.
 
The event was co-organised by the Commission of Bishops’ Conferences in the EU
(COMECE), the Council of Bishops’ Conferences in Europe (CCEE), the Global
Catholic Climate Movement and the network of Justice and Peace Europe.

Bron: www.comece.eu/first-laudato-si-reflection-day-catholics-in-support-of-a-sustainable-financial-system