Four Church of England cathedral charities have started the process to drop their accounts with banks that fund fossil fuel companies.
Durham, Southwark, Truro and Worcester cathedrals are the latest to have joined the wider movement among faith organisations to cut ties with high street banks that finance fossil fuel projects.
Christian Aid switched from Barclays to Lloyds in 2023, while the Greenbelt festival also moved away from Barclays to the Co-operative Bank at the end of 2023.
The move by the four cathedrals came ahead of a Christian Climate Action campaign where it will hold vigils and protests at cathedrals across the UK from the second weekend of Lent.
Christian Climate Action is a grassroots Christian group that urges the church to take action on climate change.
The group is calling on cathedrals to move away from the five major high street banks – Barclays, HSBC, Santander, NatWest and Lloyds – to those that do not fund fossil fuel projects.
In recent times, secular charities have also distanced themselves from banks that finance fossil fuel projects.
Oxfam made the move to cut ties with Barclays at the start of 2024 while the British Medical Journal announced later that year that it will no longer accept advertisements from banks that fund fossil fuel companies.
Climate emergency
The Dean of Worcester, Stephen Edwards said: “In 2021 Worcester cathedral, like many organisations, declared a climate emergency.
“This, together with our journey through the eco church programme has focussed on the wider implications of the climate crisis and how we can make a difference across the cathedral’s activity.
“We began exploring alternative banking arrangements last year and are working to seek the best ethical and sustainable approach to financial processes.
“In doing so we live out our values as a Christian organisation proclaiming the kingdom of God.”
Mark Coleman, a retired vicar from Rochdale and a supporter of Christian Climate Action, said: “Fossil fuel companies might be the ones extracting and burning fossil fuels, but it’s the big five banks making that financially possible.
“These banks are funding climate collapse, and all the suffering, extinction, wars, and political chaos that comes with that.
“As Christians, we are called to speak up for the poor and against the powers causing oppression.”
Civil Society has asked the four cathedrals and the five banks to comment.
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