Our Task Force has submitted four pieces of climate justice legislation to this year’s Annual Conference Session. The Resolution for Conference Fossil Fuel Divestment asks the California-Nevada conference to transition all investment portfolios to low carbon and eventually fossil free funds and to report on progress in 2026.
The full text of the divestment resolution is as follows:
Resolution for California-Nevada Conference Fossil Fuel Divestment
Resolution
Be it Resolved that:
The California-Nevada Annual Conference will endeavor to meet the goal that all California-Nevada Conference boards and agencies investment portfolios will be transitioned to “fossil free” through screening out companies that own coal, oil, and gas reserves[1] and companies whose core business[2] is to produce coal, oil, and gas.[3] Investments in “low carbon” portfolios (containing under 2% of such companies) can be seen as an interim goal as we move toward investments that are fossil free.
Be it Further Resolved that:
Using the definition of “fossil free” given above, the goal for Conference boards and agencies is that by the 2026 Annual Conference Session, they would be fully transitioned to fossil free or transitioned to “low carbon” with a plan and timeline for transitioning to fossil free.
Be it Further Resolved that:
The Council on Finance and Administration will report on California-Nevada’s progress on fossil fuel divestment at the 2026 Annual Conference Session.
Background
In June 2024, the California-Nevada Annual Conference Session Annual passed a Recommendation that called for the Conference Council on Finance and Administration to host a Summit on Fossil Fuel Divestment. This Summit was held at the Conference Center on March 25-26, 2025. The purpose of the Summit was to: 1) to “uphold best practices for investment management,” 2) to “identify sound financial strategies to screen out fossil fuels from our conference investment portfolios,” and 3) to “make a report, including recommendations, to the 2025 Annual Conference.” The Summit was geared toward Cal-Nevada boards and agencies with investment portfolios, but presentations were livestreamed and recorded.
Watch here: Summit Presentations on Fossil Fuel Divestment.[4]
The Summit on Fossil Fuel Divestment demystified the issue of fossil fuel divestment and offered practical information and guidance to identify sound financial strategies to screen out fossil fuels from our Conference investment portfolios. In addition, the spiritual and moral reasons for divesting from fossil fuels, the primary cause of climate change, are clear. Jesus said, “Do to others as you would have them do to you” (Luke 6:31). In “The General Rules,” John Wesley said, “First: By doing no harm, by avoiding evil of every kind, especially that which is most generally practiced….” In secular terms, as Rev. Jim Antal reminded us, the simplest moral reason is that “It is wrong to profit from wrecking the planet.”
Key points acknowledged and discussed during the summit,
- The extraction and burning of fossil fuels is actively harming people and planet;
- There are sound moral and biblical principles to support divesting from fossil fuels;
- Funds divested from fossil fuels are already available at Wespath, demonstrating a commitment to the good management of fossil-free, socially responsible investments:
- A growing number of local churches and annual conferences are opting to invest in fossil free funds, and many fossil-free investment portfolios have outperformed their non-fossil-free counterparts, creating increased earnings to support ministry;
- Oil and gas investments have chronically underperformed in the market, and engagement with oil and gas companies has proved to be a failing strategy.
Following the public presentations, representatives of boards and agencies holding investments made by members or churches in the California-Nevada UM Conference met for discussion. They committed themselves to working with their agencies to achieve the goal of “fossil free.” They agreed that each board and agency would report back by May 1, 2025 to the Conference Council on Finance and Administration on their plans for transitioning investments out of fossil fuels. Their statement began with the following acknowledgement:
“We agree that fossil fuels continue to drive climate change and that their production and usage harms the planet, especially poor and minority communities and countries. For these reasons, swiftly moving toward renewable forms of energy and away from fossil fuels is a crucial issue. To be faithful stewards of creation is to honor the planet and the people who live on it.”
[1] The MSCI Ex Fossil Fuels Index identifies funds that exclude fossil fuels, and some divestment efforts use this metric: either the company owns reserves or it doesn’t.
[2] According to Wespath’s explanation on Investment Exclusions, a “core business” is one that accounts for 10% or more of a company’s revenue derived from the objectionable products and/or services and discontinuing the activity would materially change the nature of the company’s operations.
[3] Wespath’s Social Values Choice funds exclude companies that own reserves but also those that engage in “production” of coal, oil, or gas. This resolution proposes to use the same standard for “fossil free” funds as Wespath.
[4] Speakers included: Bishop Sandra Olewine, William Morris, from the California-Pacific Annual Conference, an organizer with GreenFaith and Young Evangelicals for Climate Action (YECA), The Rev. Jim Antal, author of Climate Church, Climate World, Jake Barnet from Wespath, Julia Frisbie, Executive Director of the Faith Foundation Northwest, and Daniel Cohn, analyst for Institute for Energy Economics and Financial Analysis. The order of the speakers on the recording is as follows: 00:00 Burke Owens (Intro), 2:51 Bishop Sandra K. Olewine, 11:55 William Morris, 1:25:47 Jim Antal, 2:12:26 Jake Barnett, 2:36:31 Julia Frisbee, 3:04:00 Daniel Cohn.