Fossil Fuel Divestment
In 2014, the Franciscan Sisters of Mary (FSM) took a decisive step in aligning their investment practices with their mission of compassionate care for creation by initiating a comprehensive divestment from fossil fuel companies. Recognizing the environmental and social impacts of the fossil fuel industry, FSM chose to redirect their investments toward more sustainable and ethically responsible avenues.
This divestment was not merely a financial maneuver but a reflection of FSM’s deep
commitment to environmental stewardship and social justice. By withdrawing financial
support from industries contributing to climate change, FSM aimed to embody their
values in tangible ways. Their actions served as a testament to the power of faith-based
organizations in influencing positive environmental change.
Beyond divestment, FSM actively engaged in spreading awareness and encouraging
similar actions among other institutions. They shared their experiences and strategies at
various conferences and webinars, including the 2015 conference at the University of
Dayton, the 2016 webinar sponsored by the Global Catholic Climate Movement, and the
2017 conference at the Pontifical Lateran University in Rome. Through these platforms,
FSM advocated for a shift in investment practices that prioritize environmental
sustainability and ethical responsibility.
Catholic Impact Investing Collaborative and FSM Involvement
The Catholic Impact Investing Collaborative (CIIC), pronounced “seek,” is a global network of Catholic institutions committed to aligning their financial resources with the principles of
Catholic Social Teaching. Founded in 2014 by Catholic leaders in finance, including John O’Shaughnessy of the Franciscan Sisters of Mary (FSM), CIIC provides a platform for Catholic asset owners and financial intermediaries to share experiences, build relationships, and promote impact investing as a means to serve people and the planet. CIIC’s mission is to accelerate and expand the stewardship of financial resources in service to people and planet, fostering an economy rooted in solidarity, justice, and ecological flourishing.
The Franciscan Sisters of Mary have been integral to the development and growth of CIIC. Recognizing the need to move beyond traditional socially responsible investing, FSM embraced impact investing to more effectively align their investment program with their mission of compassionate care of creation. Under the leadership of John O’Shaughnessy, FSM not only transformed their investment strategy but also played a pivotal role in establishing CIIC, using their experience to inspire and guide other Catholic institutions on similar journeys.
Through their continued involvement with CIIC, the Franciscan Sisters of Mary have contributed to the broader Catholic impact investing movement. They have shared their insights and experiences, helping to build a community of practice among Catholic investors.
FSM’s commitment to aligning their financial resources with their faith and values exemplifies the transformative potential of impact investing within the Catholic community.
