United Church Funds has improved its Beyond Fossil Fuel Fund offerings in order to increase impact and meet the desires of UCF’s current and potential investors.
The Beyond Fossil Fuels Fund is an equity fund that initially limited its investment to US companies. It now invests in global companies, and avoids those that produce oil, coal or gas. In order to make it easy for churches and institutions to invest, UCF also improved the Beyond Fossil Fuels Balanced Fund, which now consists of the Beyond Fossil Fuels equity fund and a divested fixed income fund. Previously, the Beyond Fossil Fuels Balanced Fund had exposures to fossil fuel companies in the fixed income and international equities asset classes. Investors were aware of these exposures but challenged UCF to focus on eliminating direct investments in fossil fuel companies.
“On behalf of UCC churches and institutions that place climate concerns among their top investing priorities, I applaud UCF’s continual process of improvement on the Beyond Fossil Fuels Funds. I am glad that the United Church of Christ’s Covenanted Ministries have benefitted from these improvements, and I encourage all churches in the UCC to explore these funds,” said John Dorhauer, General Minister and President of the United Church of Christ.
“By examining what investors want in a climate-sensitive investment option, and in working with our investment managers, we believe we have created a fund which combines reasonable risk and return expectations with a reduced exposure to those companies producing fossil fuels. Now we ask the UCC to have intentional conversations about whether this fund is right for their church or institution,” said Don Hart, President of United Church Funds.
“The Beyond Fossil Fuels Fund and the Beyond Fossil Fuels Balanced Fund are just two of the ways UCF expresses its profound disquiet about how business as usual will impact the planet and communities. We continue to be an active shareholder by bringing climate concerns to corporate boardrooms. In addition, we are lessening exposures to fossil fuels producers in many of our other funds as well. When our children ask what we did to stop climate change, we will be able to say we were part of the solution,” said Katie McCloskey, Director of Social Responsibility.
For more information on any of our climate-friendly options, email us here.