What it's about:
Forty Roman Catholic groups have shunned investments in fossil fuels and urged others to follow suit.
The coalition was the largest number of Catholic institutions - in countries including Australia, South Africa, Britain and the United States - to team up for a shift to greener energies, the Global Catholic Climate Movement said.
The "joint divestment from fossil fuels is based on both their shared value of environmental protection and the financial wisdom of preparing for a carbon-neutral economy," it added.
The Pope credits Saint Francis, known for his poverty and love of nature, in a 2015 encyclical urging action to halt global warming to safeguard the planet.
Why it's noteworthy:
The move follows many investors, such as pension funds, sovereign wealth funds and universities, that have sold fossil fuel stocks especially since the 195-nation Paris climate agreement set a goal of phasing out use of fossil fuels this century.
"Today's announcement is a further sign we are on the way to achieving our collective mission," said Christiana Figueres, the U.N.'s climate chief at the time of the 2015 agreement. "We still have a long way to go, however."
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