Finance
Vatican Launches Project Encouraging Disinvestment From Mining Sector
Published by Global Banking & Finance Review®
Posted on March 20, 2026
3 min readLast updated: March 20, 2026
Quick Summary
The Vatican on March 20, 2026, launched an international campaign encouraging divestment from the mining sector, urging faith-based investors to pull out unless companies uphold workers’ rights and environmental protection. The initiative builds on prior Vatican-led faith-consistent investing effort
Vatican Launches International Project to Encourage Disinvestment from Mining
Vatican's Initiative and Its Impact on the Mining Sector
By Joshua McElwee
Introduction to the Disinvestment Project
VATICAN CITY, March 20 (Reuters) - The Vatican on Friday launched an international project encouraging disinvestment from the mining sector, in an unusual initiative by the Catholic Church to steer investments away from a specific industry.
Officials said the new initiative, backed by senior Church leaders and about 40 other faith-based institutions, would push companies to treat their workers justly and protect the local environment near their operations, or risk loss of investments.
Concerns Over Social and Environmental Impacts
"In many regions of the world, the expansion of the mining industry has generated profound social tensions and serious environmental impacts," Cardinal Fabio Baggio, a Vatican official, said at a press conference.
He called the new effort "an act of consistency with our faith (and) with the defense of human dignity".
Pope Francis' Advocacy and Previous Disinvestment Efforts
Pope Francis, who died last year, made many passionate appeals during his 12-year tenure for mining companies to adopt more stringent business practices, but the Vatican had not previously launched a disinvestment initiative.
It did however urge Catholics in 2020 to disinvest from the armaments and fossil fuel industries.
Details and Goals of the New Project
Ethical Investment and Faith-Based Action
Rev. Dario Bossi, one of the coordinators of the new project, said it would invite Catholics and faith groups "to withdraw investments from the mining sector as an ethical response to its social and environmental impacts".
Lack of Specific Targets
The Vatican did not provide a list of organizations involved in the new initiative, and did not specify any mining companies that could be a target for disinvestment.
Global Demand and Industry Response
Amid a surge in global need for batteries and other high-tech items, demand for the likes of lithium, cobalt and copper is expected to triple by 2030, and quadruple by 2040, according to the International Energy Agency.
Some mining companies have acknowledged a need to change their business practices. In 2001, a group of industry CEOs launched the International Council on Mining and Metals, which advocates for responsible mining practices.
Calls for Justice and Responsible Leadership
Guatemala Cardinal Alvaro Ramazzini, who was part of Friday's launch, said the new Vatican initiative would seek "to make governments and business leaders understand that what is legal does not always correspond to the value of justice".
(Reporting by Joshua McElwee; Editing by Jan Harvey)
Key Takeaways
- •The Vatican’s new divestment campaign, backed by Church leaders and about 40 faith institutions, targets mining firms that violate social and environmental standards (apnews.com).
- •The initiative draws on earlier Vatican stances urging disinvestment from fossil fuels and armaments, reinforcing Catholic Social Teaching and faith-driven investment frameworks such as Mensuram Bonam (weforum.org).
- •It aligns with broader Catholic engagement on mining ethics, including the Churches and Mining Network, the Catholic Peacebuilding Network’s 2025 report, and calls for accompaniment and solidarity with mining-affected communities (kroc.nd.edu).
References
- Vatican launches campaign to encourage divestment from mining industries
- The Vatican City calls for Catholics to stop investing in fossil fuels | World Economic Forum
- Catholic Peacebuilding Network releases new report on the problems of global mining and potential responses, using Catholic Social Teaching lens // News // Kroc Institute for International Peace Studi
Frequently Asked Questions about Vatican launches project encouraging disinvestment from mining sector
1What is the Vatican's new disinvestment project?
The Vatican's project encourages faith-based groups to withdraw investments from the mining sector due to social and environmental concerns.
2Who is backing the Vatican's disinvestment initiative?
Senior Church leaders and about 40 other faith-based institutions are supporting the initiative.
3Why is the mining sector being targeted for disinvestment?
The mining sector has been linked to social tensions and environmental impacts, prompting the Vatican's call for ethical investing.
4Did Pope Francis support disinvestment measures during his tenure?
Yes, Pope Francis called for disinvestment from certain harmful industries and advocated for responsible mining practices.
5Are specific mining companies targeted by the Vatican's initiative?
No, the Vatican has not named specific mining companies or organizations as targets for disinvestment.
