British Friends defend large BP investment (UPDATED)

The Friend: British Friends defend large BP investment (UPDATED). Britain Yearly Meet, the organisation of Quakers across England, Scotland and Wales, has a higher proportion of its investments in the oil giant than in any other business. BYM say it has engaged with BP on issues such as renewable energy. The World Development Movement (WDM) urged Friends to consider selling their shares in the light of BP’s role in ‘fuelling climate change’. But BYM says that it is having a positive effect on BP.

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Comment by Elizabeth Eames Roebling on 6th mo. 30, 2010 at 5:50pm
In a blog posted here on Quaker Quaker a few days back, I called on US Quakers to reconsider our investments in oil corporations (with a wider concern for myself personally since most multinationals are based in the US and we therefore perhaps must scrutinize more carefully)..

I was pleased to read that British Friends engage with the corporate leaders

In my conversation with Friends Fiduciary, which about 10 years ago, held more than 200 million dollars in corporate Quaker institutional funds, the Friend that I spoke with said that they did not vote the shares, nor did they turn their proxies over to larger groups of assemled religious groups of conscience to vote on their behalf.

I do know where FUM funds are held or how.

Do any other Friends know?


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