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Church of England Unloads Exxon Shares on Failed Emission Goals

Its pensions board is now fully divested from the oil giant for not meeting key climate criteria

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Church of England Dumps Exxon Mobil Shares

The Church of England Pensions Board has sold all its holdings of Exxon Mobil Corp. because the oil giant failed to set goals to reduce emissions produced by its customers.

The divestment was completed this week. The proceeds went to an index that aligns with the objectives of the Paris climate agreement, said a spokesperson for the board. Exxon isn’t included in the FTSE TPI Climate Transition Index because it hasn’t set targets for Scope 3 emissions that are generated when customers burn fossil fuels.