To Divest or Not to Divest: Is this a Financial or a Ministry Question?

The goals are similar and the arguments are compelling, but the means are divergent. There are those who claim that divesting pulls us away from the tables with fossil fuel companies and leaves us with no way to change their ways. On the other side, there are those who advocate that the fossil fuel companies exist in order to extract, refine, and distribute fossil fuels for the world to burn and pollute the air. Sitting at tables with these companies is going to do nothing to change their primary—and, in many cases, their only—purpose. Both groups are trying to curb the rapid climate change we’re experiencing, which has resulted in more violent and radical weather, and stop the damage that is being done to the earth as a result of burning fossil fuels.

The Presbyterian Peace Fellowship, Presbyterians for Earth Care, and the Fossil Free PC(USA) movement argue that time is running out. Climate experts are saying that in the next two to seven years the drastic changes in our climate that are linked to human over-use of fossil fuels may be irreversible in time for life to be saved on this planet. Therefore, we must divest from companies who produce fossil fuels and re-invest in companies offering or researching alternative, renewable, and clean energy sources, and actively advocate for a more swift shift to cleaner energy sources (e.g., solar, algae, etc.).

Others do not necessarily disagree that we must do something to curb humanity’s voracious consumption of fossil fuels and the resulting pollution that is contributing significantly to the destruction of our planet. But they are saying that divesting from fossil fuel companies removes the voice of the church from the tables of negotiation and any hope of changing the tide of climate change that is before us. These folks believe the church can be a part of the change, but only if we stay engaged with companies who are producing the materials that we are burning.

Then there is a third group: those concerned about jobs. Within the Presbyterian Church we have coal miners, oil rig workers, oil refinery employees, as well as managers, accountants, and executives in companies that have vested interests in the production and use of fossil fuels.

What will happen to these people if the PC(USA) divests from fossil fuels? In reality, nothing. No jobs will be lost. No pensions will be destroyed. Our divestment will not bankrupt the oil companies.

What our investments can do, if re-directed, is help spur the research and development of alternative and cleaner energy. What our investments can do is help motivate public opinion to put pressure on our government and on oil companies to be a part of the solution. Some companies have ventured into other sources of energy, but none have completely withdrawn from oil extraction, refining, and distribution.

Another question that has been suggested previously is: If your entire business is making a product that proves to be unhelpful, but your livelihood is dependent on the making of this product, what would it take for you to close your business or radically change what you produce? Answer, again: nothing, because they will not change what is making them a lot of money. By engaging fossil fuel companies, are we not asking, in essence, a rhinoceros to become a zebra? It’s just not going to work. Add to the fact that our investments in these companies is a drop in their pools of investment income.

Though the Board of Pensions and the Foundation have only about 3% of its investments in fossil fuels, with over $10 billion worth of investments, we’re talking over $300 million. While Item 08-01, which calls for the PC(USA) to divest from fossil fuel companies, failed, the energy and intentions to make a difference is evident, and more people are getting on the environmental justice bandwagon.

This week we heard several times from both the Board of Pensions and the Foundation that their primary responsibility is to those who have money invested with them. The issue of legal and fiduciary responsibilities was raised too many times to defend their investment practices. In addition, Frank Spencer, president of the Board of Pensions (of which I and nearly every minister in the PC(USA) is a member), once again reiterated his mantra that the BoP is not subject to the General Assembly (technically true). Spencer dropped a bomb shell of a revelation during committee meeting that the BoP has not, and will not in the near future, be divesting from three companies that are on the divestment list—Caterpillar, Hewlett Packard, and Motorola—despite divestment being approved at the 221st General Assembly. The leadership of these financial giants were clear: the ministry of Jesus Christ is second to the almighty dollar. And the assembly agreed in a 332-178 vote to reject an overture to divest that had 29 presbytery concurrences (the original Item 08-01).

So, is our structure broken when these investment arms of the church focus more on finances than on ministry? The same issue came up during the Way Forward debates. As it stood prior to the assembly voting on the Way Forward report, the Presbyterian Mission Agency (PMA) also served as the trustees for the denomination’s parent corporation (so-called “A Corp”). Most of our churches are religious corporations as defined by their states. In most of these churches, the session serves as the board of trustees (unicameral). In those rare cases where a church has a separate board of trustees for the corporation (bi-cameral), it is the session that still serves as the primary board of directors of the organization and oversees the trustees. The ministry comes before the business characteristics of our churches.

It seems to me that the accounts and lawyers are taking over directing the ministries of the Church. This is nothing against accountants and lawyers. We need them. They have a job to do: advise a council or body of the potential consequences of an action or situation. They will always advise of the dangers and negative consequences—that’s their job. It is the ministry leaders’ job to discern whether or not those consequences outweigh the need the ministry task at hand. Too often our ministry leaders are led into the paralysis of fear when the lawyers and accountants start spouting their warnings of what “may” (or “may not”) occur.

We have seen what happens when the lawyers and accountants take over the ministry. In fact, it’s in our scriptures. Jesus railed against the scribes for their strict and over-protective interpretations of Jewish law. He turned over the tables of the money changers and merchants in the Temple square, claiming they turned a place of worship into a den of robbers (where robbers “hide” their stolen goods). It was a lucrative business that kept the priests and the temple staff well fed and in power. Is this the way we are going? Shall we not divest because it does not serve our financial interests, regardless of the harm we participate in as a result? Shall the trustees now lead the church instead of the spiritual leaders (namely, ruling and teaching elders)?

I say, No! Ministry and our call to justice from God through Jesus shall always take precedence when there are questions about the legal or financial implications. We ruling and teaching elders are compelled by Christ to speak out and hold Christ’s church accountable when she loses her way—to turn over the tables of injustice, so-to-speak. As our Book of Order states, “The Church is to be a community of faith, entrusting itself to God alone, even at the risk of losing its life.” (F-1.0301) For the sake of the gospel we must be willing to place the needs of God’s most vulnerable over our own. For the sake of a prophetic truth we must be willing to take risks and push back against the empire that places profit over being prophetic: give to Caesar what belongs to Caesar, but give to God what belongs to God (and in truth, everything and everyone belongs to God!).

To divest or not to divest is a question of justice: for the earth, for the poor who suffer most as a result of climate change, for our children and grandchildren and great children, for the “good” work God has done in creating. To divest or not to divest is a spiritual question and a justice question, over and against any financial profits we may be benefiting from. As one commissioner suggested: we cannot profit from fossil fuels and still claim to be the prophetic church. Amen!