Jesuits in Britain, London, is cutting fossil fuels from its £400 million ($518.1 million) equity portfolio, a spokesman for the charity said.
The remainder of the Catholic religious order's portfolio is in real estate, bringing total assets up to £531 million. "These, too, we are looking to make as green as possible," the spokesman noted in an email.
Companies whose major income is derived from the extraction of fossil fuels will be excluded from equity exposure by the end of the year. More than half of the divestment process has been completed. Figures were not immediately available.
Equity investments are run by three money managers: AXA Framlington, CCLA Investment Management and Cazenove Capital Management, the spokesman said.
Regarding reinvestment of the assets, he said there is an ongoing process to ensure all other companies in which the order invests are "as environmentally friendly as possible — whether those be mining companies, utilities or banks."