I have my doubts - and indeed expressed them personally to a senior member of this campaign.

'A campaign to include RE in the new English baccalaureate has won the support of 110,000 people, including faith leaders and 100 MPs.

Before last year’s election, Mr Cameron said that any petition with more than 100,000 signatures would be debated in Parliament.'  (Telegraph.)

This is problematical and perhaps not as worthy a goal as it appears at first sight.
I know of a school (undoubtedly representative of many) where atheism is purveyed in RE.
RE is the problem subject as it can embrace sickening multi-faith attitudes, faithlessness, apostasy and the calculated avoidance of teaching basic Bible precepts. It is frequently a vehicle for New Age, faithlessness and crackpot opinions.
(Apparently, Bible knowledge can be accessed - if a student so chooses - at some indeterminate time in their future!!?? Perhaps we should take similar views with Mathematics - a lesser topic which does not prevent souls from disappearing into a lost eternity.)
Religious Studies as an examination course however, can be a reasonable option wherein - with some clever manoeuvring - it is just about possible to teach a Christianity-based course.
Today, we have to worry massively about WHO is delivering this vital part of a curriculum to a child.