The Pope, BlackRock and big oil companies are increasingly focusing on “climate change”…
(Axios) Pope Francis is hosting a gathering next week at the Vatican with executives of major oil producers and investment firms to talk about how the companies can address climate change, according to several people familiar with the event.
Why it matters: It’s one of the most significant developments showing how corporations are working with other world leaders on climate change amid President Trump’s whole-scale retreat on the issue.
Situational awareness: One year ago today, Trump announced his intention to withdraw America from the Paris climate deal, which now has support from every country except the United States. Three years ago, Pope Francis wrote his encyclical — a papal letter sent to all bishops of the Roman Catholic Church — on the importance of addressing climate change, a first in the church’s history…
The big picture: The Pope, BlackRock and big oil companies are increasingly focusing on climate change as cleaner sources of energy have become more competitive, the impacts of a warmer world have become more apparent, and public pressure to address the issue mounts. This meeting reflects this convergence.
The details: The focus of the gathering is similar to the encyclical (“On Care For Our Common Home”) with an emphasis on the energy transition of a “shared home,” according to people familiar with it. The event is occurring late next week, with two people saying the Pope is likely to talk Saturday.
The University of Notre Dame is helping convene it….