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Church of England Devises an Index for Climate-Conscious Investing

"Many investors would like to use their money to help tackle climate change, but figuring out how has not always been easy. Now a fund that benefits 38,000 current and retired clergy and other employees of the Church of England could offer a potential solution.

The Church of England Pensions Board, which manages 2.8 billion pounds (or $3.7 billion), this week announced an index that rewards companies working to curb their carbon-dioxide emissions in line with the targets of the 2015 Paris agreement, and bars companies that are perceived as environmental laggards.

The church’s pension board is transferring £600 million to the new index, which it helped design with FTSE Russell, an index provider."

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