Catholic religious order Jesuits in Britain will ditch fossil fuel companies from its $500 million equity portfolio by the end of the year, it said on Wednesday, citing corporate failure to respond quickly to the threat of climate change. Asset managers responsible for more than $14 trillion have divested from the sector in recent years, though many more prefer to remain invested and engage with companies to change their business strategies. Some companies have sought to address investor concerns, including BP’s ( BP.L ) pledge this month to reduce its carbon emissions, though critics have said that such measures have not gone far enough. Jesuits in Britain, which has 400 million pounds ($517.5 million) invested with three money managers to finance its work, […]