The Most Rev Justin Welby described climate change as “the most pressing investment challenge of our time”, and urged the investment community to take “environmental, social and governance factors” into account when making decisions.

Mr Welby’s comments come a day after he confirmed he would be willing to chair a citizens’ forum on Brexit “in principle” after being approached by senior MPs, but conditions on him accepting the role “have not yet been met”.

In a video message for the Global Ethical Finance Initiative (GEFI) ahead of this autumn’s world summit on ethical finance in Edinburgh, Mr Welby said: “Money is not morally neutral – it can do harm and it can do good.

“At the very least it is the responsibility of investors to take account of environmental, social and governance factors in their investment decisions and in their stewardship of their assets.

“At its best, ethical finance can drive positive change in the world, while still being responsible for its investors.

“It can ensure that while meeting investors’ risk return requirements, investments benefit people and planet.

“I’d like to focus for the next few moments on the most pressing investment challenge of our time – climate change.

“Because frankly, the investment community has still not sufficiently stepped up to the plate on this.

“I’ve seen for myself the devastation of climate change – I’ve seen…

The letter comes a day after the Archbishop of Canterbury confirmed he would be willing to chair a citizens’ forum on Brexit “in principle” after being approached by senior MPs. 

But the Most Rev Justin Welby said conditions to him accepting the role “have not yet been met”. He told MPs they must not use a public forum as a way of attempting to stop Brexit. 

He said: “It is an unexpected privilege to be asked to chair this proposed citizens’ forum on Brexit.” 

The bishops said in their letter they “support this move to have all voices in the current Brexit debate heard.” 

 25 Bishops have signed the letter, in which they raise concerns about the potential cost of a no deal Brexit to those least resilient to economic shocks. 

 In the letter they said as bishops with pastoral responsibilities in communities across urban and rural England, “we respond to the call by Jesus to tell the truth and defend the poor. We also recognise that our obligations go beyond England and impact on relations with the wider UK and our neighbours in the EU. 

“Exiting the EU without an agreement is likely to have a massive impact on all our people and the Government is rightly preparing for this outcome. 

 “The Government believes that leaving the EU on 31 October is essential to restoring trust and confidence. It is unlikely, however, that leaving…

Priests and bishops in China need to be approved by the state and align with the country’s official church – a law which the Vatican has contested since its introduction in 1951. 

As a result, the country’s 12 million Catholics have been split between the government-run Chinese Patriotic Catholic association in which the Communist Party select clergy members and the Vatican lead Catholic Church that operates underground. 

The relationship between the Holy See and Beijing has been strained by the disagreement for decades. 

A deal was agreed in September last year to allow both authorities to have a say on the appointment of bishops. 

On Monday Yao Shun received the papal mandate – a response of the Pope, for his ordination as Bishop of Ulanqab, Inner Mongolia. 

Although the Vatican has informally recognised a number of Chinese bishops in the past, it confirmed ordination of the new bishop, who it named as Antonio Yao Shun, was “the first to take place in the framework of the Provisional Agreement between the Holy See and the People’s Republic of China”. 

Despite efforts to restore relations between Beijing and the Holy See, the agreement made last year sparked controversy among Catholic leaders. 

Hong Kong’s outspoken Cardinal Joseph Zen accused the Vatican of “selling out” by endorsing government appointed bishops and called the deal “a major step toward…