Vatican Launches Faith-Based Mining Divestment Campaign

The Catholic Church is putting its money where its mission is, launching a global campaign to divest from mining industries that damage the environment and exploit Indigenous peoples.

The Vatican announced the initiative Friday, building on Pope Francis' 2015 environmental teachings that criticized corporations for pillaging Earth's resources at the expense of vulnerable communities. The Churches and Mining Network, an alliance of Catholic and Christian groups active across Latin America, created the campaign to help local churches review their investments and share information with Indigenous groups about extraction happening on their lands.

The human cost became clear at the Vatican news conference when Yolanda Flores, an Aymara leader from Peru, described mothers who fear they're poisoning their children with drinking water contaminated by mining runoff. "The big question is: Who finances this? Who provides the money to poison us?" she asked through tears.

Guatemalan Cardinal Álvaro Ramazzini shared his experience as bishop of San Marcos, where a Canadian mining firm extracted silver and gold from local land. The project brought temporary jobs but enriched shareholders while failing to promote lasting community development or distributive justice.

The Ripple Effect

The campaign reflects a broader shift in how religious institutions handle money. Pope Francis formed an investment committee in 2022 to ensure Vatican securities align with Catholic social teaching while remaining profitable.

Last month, the Vatican bank announced two equity benchmarks that meet Catholic ethical standards, designed to guide investments worldwide. The Morningstar IOR Eurozone Catholic Principles and Morningstar IOR US Catholic Principles give churches concrete tools to match their portfolios with their values.

Cardinal Fabio Baggio, second in command at the Vatican's ecology office, acknowledged the campaign requires looking inward first. While he couldn't confirm whether the Vatican had previously invested in mining corporations, he emphasized the importance of examining one's own practices when launching such efforts.

The movement empowers Indigenous communities with critical information about who profits from extraction on their ancestral lands, giving them knowledge to advocate for their rights and health.

When faith communities move billions in assets toward justice, they create a financial force that protects both people and planet.