Notes and References: “The Creation Waits”

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[1] On Divestment from Fossil Fuel Companies – from the Presbytery of Boston. Overture submitted by the Presbytery of Boston, with 11 concurrences, for consideration by the 221st General Assembly (2014). Available online at: http://pc-biz.org/Explorer.aspx?id=4587 under “Recommendation and Rationale.”

[2] The term “climate justice” is defined in many ways (http://en.wikipedia.org/wiki/Climate_justice). For me, climate justice means honoring the dignity and ensuring the well-being of all people in our decision-making processes, actions, and policies to mitigate and adapt to climate change. In keeping with our Lord’s example of standing with “the least of these” (Matthew 25:40), climate justice demands paying special attention to the needs and hopes of people who are poor and marginalized, and future generations. These sisters and brothers are least responsible for the greenhouse gas (GHG) emissions that cause climate change, yet they are and will be most affected by its devastating impacts on agriculture, water scarcity, public health, and vulnerability to disasters. Given that these impacts will become more severe the more we allow global temperatures to rise, climate justice requires (but is not limited to) reducing our GHG emissions rapidly enough to limit global warming to less than 2 degrees Celsius.

[3] Becker, A. 2014. Creation care: PC(USA) looks to long-term efforts, not immediate divestment from fossil fuel companies. The Presbyterian Outlook, 20 June 2014. Available online at: http://pres-outlook.org/2014/06/creation-care-pcusa-looks-long-term-efforts-immediate-divestment-fossil-fuel-companies/.

[4] The Power to Change: U.S. Energy Policy and Global Warming. Developed by the Advisory Committee on Social Witness Policy (ACSWP) and approved by the 218th General Assembly of the Presbyterian Church (USA), 2008. Available online at: http://www.pcusa.org/site_media/media/uploads/acswp/pdf/energyreport.pdf. p. 3.

[5] Intergovernmental Panel on Climate Change (IPCC) Working Group (WG) I, 2013: Summary for Policymakers. In Climate Change 2013: The Physical Science Basis.Contribution of Working Group I to the Fifth Assessment Report of the IPCC [Stocker et al. (eds.)]. Cambridge University Press, New York, NY, USA. Available online at: http://ipcc.ch/report/ar5/wg1/docs/WGIAR5_SPM_brochure_en.pdf. pp. 2-5.

[6] IPCC WG I, 2013 (see Note 5). The causes of climate change and clear evidence of human influence (largely through fossil fuel use) are discussed on pp. 9-12 and 15-17.

[7] IPCC WG II. 2014. Summary for Policymakers. In Climate Change 2014: Impacts, Adaptation, and Vulnerability: Contribution of Working Group II to the Fifth Assessment Report of the IPCC [Field et al., (eds.)]. Cambridge University Press, New York, NY, USA. Available online at: http://ipcc-wg2.gov/AR5/images/uploads/IPCC_WG2AR5_SPM_Approved.pdf. pp. 6-8, 12-21.

[8] The IPCC estimates that future rise in the global average temperature could be limited to ~1 degree Celsius above 1986-2005 temperatures (approximately 2 degrees Celsius above pre-industrial levels), based on a “peak-and-decline” scenario in which global greenhouse gas (GHG) emissions peak in 2020 and decline sharply thereafter. However, this would require bold policy action to limit GHG emissions in general and fossil fuel use in particular. Substantial progress towards a completely renewable energy economy that emits no GHGs would be needed by mid-century. See:

[9] The widespread, negative impacts of climate change on crop yields – over and above normal variation in weather – is well documented. Causes include the increased frequency of severe weather (droughts, floods, etc.), shifts in rainfall patterns, as well as direct impacts of higher temperatures (adverse impacts on crop physiology, faster spread of insect pests and diseases). See:

[10] IPCC, WG II, 2014. pp. 6-8, 12-21. See Note 7.

[11] The final text of the Motion to Refer, including a subsequent amendment requesting that MRTI report to the 222nd General Assembly, can be found at: http://pc-biz.org/Explorer.aspx?id=4587 under “Committee Recommendation.”

[12] The text of the Substitute Motion can be found at: http://pc-biz.org/Explorer.aspx?id=4587 under “Minority Report.”

[13] Becker, A. 2014. Fossil fuel divestment not approved. The Presbyterian Outlook, 18 June 2014. Available online at: http://pres-outlook.org/2014/06/fossil-fuel-divestment-approved/.

[14] For example: During the debate in committee, I kept a transcript in order to gain a better sense of the conversation and concerns of the church on the issue of fossil fuel divestment. In reviewing these notes, I counted at least six occasions on which financial asset managers (primarily from the Board of Pensions) interjected after debate had already begun and advocated for their views on the overture.

[15] Smith, S. A Place at the Table: Overture Advocate Testimony before Committee 15 (Immigration and Environmental Issues), 221st General Assembly of the Presbyterian Church (USA), 18 June 2014. Available online at: http://www.fossilfreepcusa.org/advocacy-for-fossil-free/advocate-statements-at-the-221st-pcusa-general-assembly/sue-smith/.

[16] In the interest of transparency about my own contributions to the PC(USA) funds, the stewardship of which I seek to influence, I divide my 10% tithe between contributions to my local church (some of which supports the salaries and PC(USA) pensions of our faithful staff), PC(USA) mission causes (e.g., Hunger Program, Disaster Assistance), and other organizations working for social and environmental justice.

[17] United Nations Framework Convention on Climate Change Conference of Parties (UNFCCC COP). 2009. Report of the Conference of the Parties on its fifteenth session, held in Copenhagen from 7 to 19 December 2009. United Nations Office, Geneva, Switzerland. Available online at: http://unfccc.int/resource/docs/2009/cop15/eng/11a01.pdf

[18] See Note 4.

[19] Hansen, J., M. Kharecha, M. Sato, V. Masson-Delmotte, F. Ackerman et al. 2013. Assessing “Dangerous Climate Change”: Required Reduction of Carbon Emissions to Protect Young People, Future Generations and Nature. PLoS ONE 8(12): e81648. DOI: 10.1371/journal.pone.0081648. Available online at: http://www.plosone.org/article/fetchObject.action?uri=info%3Adoi%2F10.1371%2Fjournal.pone.0081648&representation=PDF.

[20] Leaton, J., N. Ranger, B. Ward, L. Sussams, and M. Brown. 2013. Unburnable Carbon 2013: Wasted capital and stranded assets. Carbon Tracker and the Grantham Research Institute, LSE. Available online at: http://carbontracker.live.kiln.it/Unburnable-Carbon-2-Web-Version.pdf.

[21] IPCC WG I, 2013, p. 21. See Note 5.

[22] IPCC WG III, 2014, p. 13. See Note 8.

[23] This list draws on the conditions proposed in the essay by the Rev. Fletcher Harper (cited below), with slight modifications that represent the even-more-stringent emissions limits that most recent IPCC reports indicate are needed to limit the increase in Earth’s temperature to less than 2°C. See: Harper, F. Divest and Reinvest Now!: The Religious Imperative for Fossil Fuel Divestment and Reinvestment in a Clean Energy Future. Available online at: http://greenfaith.org/programs/divest-and-reinvest/divest-reinvest-now-with-discussion-questions. p. 10.

[24] According to the Center for Responsive Politics, oil and gas companies alone spent nearly $145 million to lobby the U.S. Congress in 2013, or about $400,000 per day. See: Center for Responsive Politics. Oil & Gas Lobbying, 2013. Available online at: http://www.opensecrets.org/industries/lobbying.php?cycle=2014&ind=E01.

[25] Bread for the World Institute. 2010. Work in a Sustainable Economy. In A Just and Sustainable Recovery: Hunger Report 2010. Available online at: http://files.bread.org/institute/hr10/2010-hunger-report.pdf. pp. 20 & 33-46.

[26] The Unitarian Universalist Association Joins Fossil Fuel Divestment Movement. UUA Press Room, 28 June 2014. Available online at: http://www.uua.org/news/pressroom/pressreleases/296102.shtml.

[27] Fossil Free PC(USA), Response to ACSWP Advice & Counsel on Overture 15-01, 11 June 2014. Available online at: http://www.fossilfreepcusa.org/resources/ (Click “ACSWP Response”). Editorial Note: The Advice & Counsel memorandum from the Advisory Council should be read in connection with the proponents’ critique: http://pc-biz.org/PC-Biz.WebApp_deploy/(S(cxh53fueahpxrojaul0kfdo4))/Explorer.aspx?id=4587

[28] Code of Federal Regulations (CFR), 2013. Title 17, Chapter II, Section 240.14a-8: Shareholder proposals. Available online at: http://www.gpo.gov/fdsys/pkg/CFR-2013-title17-vol3/pdf/CFR-2013-title17-vol3-sec240-14a-8.pdf. p. 216. Editorial Note: This ruling means that shareholder proposals need to focus on matters of policy, not on the implementation of policy; such proposals are also not binding on Boards of Directors even if they receive over 50% of the vote, although even much lower numbers can indicate significant dissent since without conscious effort shares are automatically voted with management. 

[29] Ceres. Shareholder resolutions (Search terms: Issues – Greenhouse gas emissions; Company – ConocoPhillips). Available online at: http://www.ceres.org/investor-network/resolutions/#!/subject=Greenhouse%20Gas%20Emissions&year=&company=ConocoPhillips&filer=&sector=&status=&memo=&all. Note that this database only includes shareholder resolutions from 2011 to the present; many resolutions may have a longer history.

[30] Ceres. Shareholder resolutions: ConocoPhillips GHG Emissions 2014. Available online at: http://www.ceres.org/investor-network/resolutions/conocophillips-ghg-emissions-2014.

[31] Jones, S. Union Becomes the World’s First Seminary to Divest from Fossil Fuels. Time Magazine, 10 June 2014. Available online at: http://time.com/2853203/union-fossil-fuels/.

[32] Cardwell, S. Foundations Band Together to Get Rid of Fossil-Fuel Investments. New York Times, 29 January 2014. Available online at: http://dealbook.nytimes.com/2014/01/29/foundations-band-together-to-get-rid-of-fossil-fuel-investments/.

[33] On Calling All Presbyterians to Take Positive and Immediate Steps to Live Carbon Neutral Lives. Commissioner’s Resolution submitted by Bob Crabtree (Presbytery of Florida) and Dale Francis (Presbytery of Lake Erie) and approved by the 217th General Assembly (2006). Available online at: http://pc-biz.org/Explorer.aspx?id=1361. For the 2008 statement (The Power to Change: U.S. Energy Policy and Global Warming), see Note 4.

[34] Jacobsen, M.Z. and M.A. Delucchi.  A Path to Sustainable Energy by 2030.  Scientific American, November 2009: 58-65. Available online at: http://www.stanford.edu/group/efmh/jacobson/Articles/I/sad1109Jaco5p.indd.pdf.

[35] Jacobsen, M.Z. et al. 2014. 100% Wind, Water, Sunlight (WWS) All-Sector Energy Plans for the 50 United States. Available online at: http://www.stanford.edu/group/efmh/jacobson/Articles/I/USStatesWWS.pdf.

[36] For example, a recent study of renewable energy finance concluded that, “The main reason for the 12% decline [in renewable energy investment] in 2012 was investor concern over policies to support renewable energy in… Europe and the U.S.” See: McCrone, A. et al. 2013. Global Trends in Renewable Energy Investment 2013: Key Findings. Frankfurt School-UNEP Collaborating Centre for Climate and Sustainable Energy Finance. Available online at: http://fs-unep-centre.org/sites/default/files/attachments/gtr2013keyfindings.pdf. p. 13.

[37] Center for Responsive Politics, 2013. See Note 24.

[38] Ansar, A., B. Caldecott, and J. Tilbury. 2014. Stranded assets and the fossil fuel divestment campaign: what does divestment mean for the valuation of fossil fuel assets? Stranded Assets Program, Smith School of Enterprise and the Environment, University of Oxford, UK. Available online at: http://www.smithschool.ox.ac.uk/research/stranded-assets/SAP-divestment-report-final.pdf

[39] Carrington, D. Campaign against fossil fuels growing, says study: Investors being persuaded to take their money out of fossil fuel sector, according to University of Oxford study. The Guardian, 7 October 2013. Available online at: http://www.theguardian.com/environment/2013/oct/08/campaign-against-fossil-fuel-growing

[40] “Christ is Alive!” #246 in Glory to God: The Presbyterian Hymnal. Text by Bryan Wren, 1968, rev. 1995. Text © 1975, rev. 1995, Hope Publishing Company.

[41] See Note 4.

[42] Schappacher, E. United Church Funds announces fossil-fuel-free investment fund, 2 July 2014. Available online at: http://www.ucc.org/news/UCF-fossil-fuel-free-investment-fund-07012014.html. For more information about the UCC 2013 resolution on fossil fuel divestment and United Church Funds’ “Beyond Fossil Fuels” initiative, visit: http://ucfunds.org/beyond-fossil-fuels/.

[43] Bread for the World Institute, 2010. See Note 25.

[44] https://wp.stolaf.edu/sustainability/

[45] http://blogs.cornell.edu/gep/

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