Our new Fossil Free SA #InvestFossilFree campaign calling on asset managers to offer investors fossil fuel-free funds made the front page of Citywire earlier this week. https://citywire.co.za/news/local-managers-respond-to-fossil-free-sas-call-for-fossil-fuel-free-funds/a1468034
At 7pm this evening, we’re running a campaign launch webinar to explain the campaign in greater depth and answer your questions. Do join us: https://fossilfreesa.org.za/events/, meeting link: https://meet.google.com/fph-ojhz-atq
At 7pm this evening, we’re running a campaign launch webinar to explain the campaign in greater depth and answer your questions. Do join us: https://fossilfreesa.org.za/events/, meeting link: https://meet.google.com/fph-ojhz-atq
Fossil Free South Africa
Events
#InvestFossilFree campaign launch webinar <p dir=”ltr” style=”font-size: 16px; font-style: normal; margin-top: 10px; margin-bottom: 10px; color: #757575; font-family: Helvetica…
Our work on divestment in South Africa has now been profiled on US public radio; great to have some recognition of our contribution to this global struggle against exploitation and for human rights! Time to #InvestFossilFree.
https://www.pri.org/stories/2021-03-18/climate-divestment-activists-draw-inspiration-south-africa-s-anti-apartheid
https://www.pri.org/stories/2021-03-18/climate-divestment-activists-draw-inspiration-south-africa-s-anti-apartheid
The World from PRX
Climate divestment activists draw inspiration from South Africa’s anti-apartheid struggle
The global boycott against South Africa’s apartheid regime is credited, in part, for helping to end it. Now, climate change activists are borrowing from the same playbook — pulling dollars from those who fund the fossil-fuel industry. #livableplanet
Dear Fossil Free SA supporter,
It has been a hard few days to watch the devastation of the Cape Town wildfire on UCT. One of the unfortunate impacts of climate change is the growing intensity and frequency of disasters such as wildfires. That, coupled with the fuel load of the alien pine forest on UCT property, may have worsened the fire.
The increase of such disasters as a result of climate change is just one of many reasons FFSA has been calling on UCT to stop investing in the fossil fuels that are leading to climate breakdown. But there is some good news....
After years of putting pressure on the University of Cape Town to divest from climate-breaking fossil fuels, the university has at last formally launched its responsible investment panel (the University Panel on Responsible Investment, or UPRI) and approved a Responsible and Sustainable Investment Policy! The UPRI now has a formal website, here.
This is major progress indeed. But what now? We must ensure that institutional tweaks, however promising, don’t inadvertently become a cover for greenwashing. The conservative asset managers and advisers that serve UCT have shown no signs hitherto of embracing the kinds of systemic change that is needed, and they will be most likely push back to try to ensure UCT's responsible investment strategy does not disrupt their preferred status quo.
We have to keep up the pressure now to ensure that the UPRI and UCT actually embraces the Climate Emergency Investment Plan we proposed and that was endorsed by UCT's Convocation last December:
1. Publicly acknowledge the climate emergency, and that it demands dramatic shifts in investment practices.
2. Immediately divert R300 m from the R7 billion UCT endowment to new fossil free, socially responsible SA equity fund/s; and divest offshore funds.
3. Work together with other SA universities and progressive investors such as philanthropies to foster further such funds.
4. Commit to complete divestment over five years.
What you can do
• If you're part of the UCT community / alumni, you will be able to attend the virtual launch this Thursday, 22 April at 18:30 (Teams link here). We encourage you to attend and to speak out if possible in favour of divestment, and for the UPRI to make determined and principled recommendations echoing our climate emergency investment plan.
• Part of the UCT community or not, you can engage on the panel's call for engagement on fossil fuel divestment, for which the deadline is 14 May.
Thank you for your continued support!
David, Sarah, and the FFSA team
It has been a hard few days to watch the devastation of the Cape Town wildfire on UCT. One of the unfortunate impacts of climate change is the growing intensity and frequency of disasters such as wildfires. That, coupled with the fuel load of the alien pine forest on UCT property, may have worsened the fire.
The increase of such disasters as a result of climate change is just one of many reasons FFSA has been calling on UCT to stop investing in the fossil fuels that are leading to climate breakdown. But there is some good news....
After years of putting pressure on the University of Cape Town to divest from climate-breaking fossil fuels, the university has at last formally launched its responsible investment panel (the University Panel on Responsible Investment, or UPRI) and approved a Responsible and Sustainable Investment Policy! The UPRI now has a formal website, here.
This is major progress indeed. But what now? We must ensure that institutional tweaks, however promising, don’t inadvertently become a cover for greenwashing. The conservative asset managers and advisers that serve UCT have shown no signs hitherto of embracing the kinds of systemic change that is needed, and they will be most likely push back to try to ensure UCT's responsible investment strategy does not disrupt their preferred status quo.
We have to keep up the pressure now to ensure that the UPRI and UCT actually embraces the Climate Emergency Investment Plan we proposed and that was endorsed by UCT's Convocation last December:
1. Publicly acknowledge the climate emergency, and that it demands dramatic shifts in investment practices.
2. Immediately divert R300 m from the R7 billion UCT endowment to new fossil free, socially responsible SA equity fund/s; and divest offshore funds.
3. Work together with other SA universities and progressive investors such as philanthropies to foster further such funds.
4. Commit to complete divestment over five years.
What you can do
• If you're part of the UCT community / alumni, you will be able to attend the virtual launch this Thursday, 22 April at 18:30 (Teams link here). We encourage you to attend and to speak out if possible in favour of divestment, and for the UPRI to make determined and principled recommendations echoing our climate emergency investment plan.
• Part of the UCT community or not, you can engage on the panel's call for engagement on fossil fuel divestment, for which the deadline is 14 May.
Thank you for your continued support!
David, Sarah, and the FFSA team
We invite you to join UCT students, alumni, and the Fossil Free South Africa community to take part in this pivotal moment in the campaign to get UCT to Divest from Fossil Fuels.
Send an email expressing your support for fossil fuel divestment to upri-group@uct.ac.za by 14 May at the latest.
For those that are in Cape Town, we also invite you to join us for a protest at UCT on Tuesday 11 May at 1pm. (spaces are limited due to covid-19 precaution.)
Register here: http://bit.ly/uctmayprotest Find out more about the campaign, and inform your email submission, here: http://bit.ly/uctdivestcampaign
Send an email expressing your support for fossil fuel divestment to upri-group@uct.ac.za by 14 May at the latest.
For those that are in Cape Town, we also invite you to join us for a protest at UCT on Tuesday 11 May at 1pm. (spaces are limited due to covid-19 precaution.)
Register here: http://bit.ly/uctmayprotest Find out more about the campaign, and inform your email submission, here: http://bit.ly/uctdivestcampaign
Google Docs
DIVEST UCT PROTEST - 11 MAY - REGISTRATION
Date of protest: 11 May 2021
Time: 1pm
Location will be emailed to you directly.
NB: Wear masks and observe physical distancing at all times.
Due to Covid-19 precautions we will be limiting the number of attendees to 50 people. Therefor everyone who attends…
Time: 1pm
Location will be emailed to you directly.
NB: Wear masks and observe physical distancing at all times.
Due to Covid-19 precautions we will be limiting the number of attendees to 50 people. Therefor everyone who attends…
Please support calls for the University of Pretoria to support the principles of climate justice.
https://awethu.amandla.mobi/petitions/university-of-pretoria-to-endorse-the-climate-justice-charter
https://awethu.amandla.mobi/petitions/university-of-pretoria-to-endorse-the-climate-justice-charter
We're still working our asset manager campaign, please see our newsletter from last week if you haven't already done so.
http://eepurl.com/hC9YW9
Here's another take on why this is so important:
https://www.opendemocracy.net/en/oureconomy/welcome-age-asset-manager-capitalism/
http://eepurl.com/hC9YW9
Here's another take on why this is so important:
https://www.opendemocracy.net/en/oureconomy/welcome-age-asset-manager-capitalism/
The #DivestWits campaign is gaining momentum! Some of the Wits staff who are calling for the university to divest from fossil fuels have written this piece published in Daily Maverick: bit.ly/3kb6viN
Daily Maverick
Climate crisis: Decarbonising window will close for universities like Wits if they don’t lead the way
Almost 200 universities, including Oxford, Cambridge, Soas and Yale, have divested from fossil fuels. On home soil, Wits would only be the third university thus far in low- and middle-income countries to divest. Wits must step up and lead.
We have two things to share this week:
- Our (sceptical) analysis of Sasol’s new “green” climate targets: https://fossilfreesa.org.za/2021/10/26/sasol-industrial-scale-greenwash/
- Sign-ons welcome: A letter to News24 calling for enhanced climate coverage: https://docs.google.com/document/d/1nveMxR6MGeRTzm8DjD9WuHv3NWMl4qD22Y9IIiXPIhU/edit
- Our (sceptical) analysis of Sasol’s new “green” climate targets: https://fossilfreesa.org.za/2021/10/26/sasol-industrial-scale-greenwash/
- Sign-ons welcome: A letter to News24 calling for enhanced climate coverage: https://docs.google.com/document/d/1nveMxR6MGeRTzm8DjD9WuHv3NWMl4qD22Y9IIiXPIhU/edit
The global climate summit @COP26 #COP26 finishes today. South Africans: here are two actions you can take right now to support a safer climate. 1. Support UCT students in asking UCT to stop investing in fossil fuels: https://bit.ly/3n5NsJk 2. If you have investments, ask for fossil fuel-free options: http://bit.ly/invest-fossil-free
Change.org
5,623 people signed and won this petition
Urge UCT to Adopt Comprehensive Fossil Fuel Divestment Plan
Two bits of good news:
- Our comms person, Jo-Anne, has had an article published on Fin24: https://www.news24.com/fin24/opinion/opinion-are-my-investments-supporting-fossil-fuel-companies-20220119
- And ANC veteran and former minister of intelligence Ronnie Kasrils has agreed to officially endorse our call for the GEPF to offer a fossil fuel-free option.
- And if you missed it, here’s our 2021 end-of-year newsletter: https://us16.campaign-archive.com/?u=6c778b742eb7c470a3964de3e&id=f77631f002
- Our comms person, Jo-Anne, has had an article published on Fin24: https://www.news24.com/fin24/opinion/opinion-are-my-investments-supporting-fossil-fuel-companies-20220119
- And ANC veteran and former minister of intelligence Ronnie Kasrils has agreed to officially endorse our call for the GEPF to offer a fossil fuel-free option.
- And if you missed it, here’s our 2021 end-of-year newsletter: https://us16.campaign-archive.com/?u=6c778b742eb7c470a3964de3e&id=f77631f002
Business
OPINION | Are my investments supporting fossil fuel companies? | Business
It seems that most of us are supporting fossil-fuel companies financially. Are we happy to continue doing so? asks Jo-Anne Smetherham.
Over the past nearly two years, we have been asking people to sign to our #InvestFossilFree campaign for fossil fuel-free funds from SA asset managers.
We set ourselves a threshold of 90 signatures for action, the age of Archbishop Tutu, who until his death was the most forthright and prominent public advocate for fossil fuel divestment in South Africa.
I’m very happy to say that we have now reached that threshold, with 93 signatories. We are ready to send our first letter in this campaign to Allan Gray, insisting that they now offer their clients fossil-free investment options. We have not targeted Allan Gray – you have – more Allan Gray clients have signed on than for any other asset manager.
Since we launched the campaign, there have been several key developments for us in the climate-investment nexus:
• The climate crisis has sharply worsened – please read our oped in from last week in Business Day on the subject – and global greenhouse gas emissions cuts of 50% or more in the current decade, and rapid elimination of the fossil fuel industry, are absolutely vital steps. There is no more ‘remaining carbon budget’. https://www.businesslive.co.za/bd/opinion/2022-11-01-david-le-page-climate-emergency-is-far-worse-than-acknowledged/
• The University of Cape Town, following our long campaign with students, elected to divest from fossil fuels in March this year, and has already taken important steps towards that goal, which we hope to be able to publicise soon.
• South Africa’s first significantly fossil-free fund, the Select BCI ESG Equity Fund, was established in March last year, and has performed well over the past 18 months. (We have had many conversations with the managers of this fund prior to and since its establishment, but have no financial interest in it.) This is a significant indication that fossil fuel divestment is good for the climate and good for your investments in South Africa.
• Fossil Free SA has established a new campaign, Clean Creatives SA, asking the ad and PR pros who greenwash fossil fuels to pledge to not work with the industry any more; and we recently also launched a Climate Reporting Guide for journalists.
Before we send our joint letter to Allan Gray, we would like to take a moment to ask you again to please share this campaign with as many of your friends and family as you feel comfortable doing.
We are delighted with our 92 signatories, but believe there are many more people out there with investments who would like to have a liveable planet on which to enjoy those investments. And we would like to move fast to putting pressure on other asset managers. (Old Mutual is likely to be the next letter to ‘mature’.)
Divestment is by no means the only climate solution, but it remains a very powerful solution. We cannot afford to still have money invested in fossil fuels that should be invested in climate solutions. We believe our asset managers are smart enough, if they are pushed, to offer you respectable returns after divesting. So let’s push them.
SIGN ON NOW TO FOSSIL FREE SA’S #InvestFossilFree campaign for the option of fossil fuel-free funds from top SA asset managers:
https://bit.ly/divest-assetmanagers
We set ourselves a threshold of 90 signatures for action, the age of Archbishop Tutu, who until his death was the most forthright and prominent public advocate for fossil fuel divestment in South Africa.
I’m very happy to say that we have now reached that threshold, with 93 signatories. We are ready to send our first letter in this campaign to Allan Gray, insisting that they now offer their clients fossil-free investment options. We have not targeted Allan Gray – you have – more Allan Gray clients have signed on than for any other asset manager.
Since we launched the campaign, there have been several key developments for us in the climate-investment nexus:
• The climate crisis has sharply worsened – please read our oped in from last week in Business Day on the subject – and global greenhouse gas emissions cuts of 50% or more in the current decade, and rapid elimination of the fossil fuel industry, are absolutely vital steps. There is no more ‘remaining carbon budget’. https://www.businesslive.co.za/bd/opinion/2022-11-01-david-le-page-climate-emergency-is-far-worse-than-acknowledged/
• The University of Cape Town, following our long campaign with students, elected to divest from fossil fuels in March this year, and has already taken important steps towards that goal, which we hope to be able to publicise soon.
• South Africa’s first significantly fossil-free fund, the Select BCI ESG Equity Fund, was established in March last year, and has performed well over the past 18 months. (We have had many conversations with the managers of this fund prior to and since its establishment, but have no financial interest in it.) This is a significant indication that fossil fuel divestment is good for the climate and good for your investments in South Africa.
• Fossil Free SA has established a new campaign, Clean Creatives SA, asking the ad and PR pros who greenwash fossil fuels to pledge to not work with the industry any more; and we recently also launched a Climate Reporting Guide for journalists.
Before we send our joint letter to Allan Gray, we would like to take a moment to ask you again to please share this campaign with as many of your friends and family as you feel comfortable doing.
We are delighted with our 92 signatories, but believe there are many more people out there with investments who would like to have a liveable planet on which to enjoy those investments. And we would like to move fast to putting pressure on other asset managers. (Old Mutual is likely to be the next letter to ‘mature’.)
Divestment is by no means the only climate solution, but it remains a very powerful solution. We cannot afford to still have money invested in fossil fuels that should be invested in climate solutions. We believe our asset managers are smart enough, if they are pushed, to offer you respectable returns after divesting. So let’s push them.
SIGN ON NOW TO FOSSIL FREE SA’S #InvestFossilFree campaign for the option of fossil fuel-free funds from top SA asset managers:
https://bit.ly/divest-assetmanagers
BusinessLIVE
DAVID LE PAGE: Climate emergency is far worse than acknowledged
The usual divergence between policy and reality will be worse this year at COP27
Hello all, hope you are well. Here’s our recent Business Day oped on our not-quite-so-recent divestment survey: https://www.businesslive.co.za/bd/opinion/2023-05-31-david-le-page-uct-and-anglicans-lead-fossil-fuel-divestment-in-sa/
BusinessLIVE
DAVID LE PAGE: UCT and Anglicans lead fossil fuel divestment in SA
Despite its hi-tech gloss the finance industry is all too often driven by custom and tribalism
https://fossilfreesa.substack.com/p/in-how-many-ways-is-uct-still-fossil
Our recent event at UCT, a collaboration with students and the UCT Film and Media Studies dept: exploring the influence of the fossil fuel industry on campus.
Our recent event at UCT, a collaboration with students and the UCT Film and Media Studies dept: exploring the influence of the fossil fuel industry on campus.
Fossil Free South Africa
In how many ways is UCT still fossil-fuelled?
Exploring the influence of the fossil fuel industry on campus
Hi all, for those interested, Fossil Free South Africa is hosting an intro webinar to a fossil fuel advertising ban campaign for the City of Cape Town tomorrow at 11am. If you are interested in joining for it, please join at this link https://bit.ly/FossilFreeAdBanLaunch
A powerful new video animation from Greenpeace France calling out fossil fuel sponsorship of the Rugby World Cup to greenwash their image. The new video, titled ‘‘TotalPollution: A Dirty Game’ reveals that the e global fossil fuel industry extracts enough oil to fill a rugby stadium every 3 hours and 37 minutes - that’s almost 7 stadiums every 24 hours.
https://www.instagram.com/p/Cwjz2_FvQmP/
https://www.instagram.com/p/Cwjz2_FvQmP/
Instagram
Greenpeace International 🌍 (@greenpeace) • Instagram reel
416 likes, 7 comments - greenpeace on August 29, 2023: "Rugby doesn’t need fossil fuels, neither does our planet.
The only way to win the game for cli..."
The only way to win the game for cli..."
Our end of year newsletter - thank you for your interest and support, do get in touch any time, and best wishes for the holidays and 2024 - we have big plans for the year ahead 🌈 https://fossilfreesa.substack.com/p/triumphs-and-transformations-ffsas
Fossil Free South Africa
Triumphs and transformations: FFSA's 2023 journey
Highlights from 2023, and our greetings to you for 2024