The City of Cape Town has committed to divesting from fossil fuels! Tucked away in a recent statement about the City’s green bonds, Mayor Patricia de Lille added:
I am taking this a step further and I have informed our Finance Directorate that we are going to divest from fossil fuel assets and companies in favour of greener and cleaner investments which are in line with our vision of a sustainable future. We are going to instruct investors looking after our money not to put our money into fossil fuel-related companies or for it to be used to fund the development of dirty and unsustainable projects. We want our investments to be aligned with our principles of resilience and sustainability.
Fossil Free SA, together with 350 Africa, has been campaigning for the city to divest since late 2016.
Also, following up on our May workshop, we’ve published an oped in Business Day on divestment: ‘Signs are the climate is right for divesting from the fossil fuel industry’.
Come to Fossil Free SA’s next community event on 26 July, 5.30 for 6pm, at 75 Harrington Street, Cape Town, to find out more about how you can join the global movement to divest from fossil fuels.