Engaging with universities and asset managers

EcoMaties had asked students at a Stellenbosch University residence to create something from trash that told a story relating to the climate crisis. One made a robot “because in twenty years time, there might be only robots, not people, roaming around Earth.”

“That might seem a little morbid, but it tells us something about the climate anxiety young people are experiencing,” observed our campaigner Sandrine Mpazayabo.

This tale sprang from one of our many engagements with university students, and some lecturers at UCT and Stellenbosch University this year − who were far more receptive to our divestment message than than the asset managers Allan Gray and Ninety One, whom we’ve also met.

We were trying to persuade them to set up fossil fuel-free investment funds for people wanting them, including the many investors who have signed letters to these companies on our website (if you haven’t signed yet, please do so).

At UCT, we engaged with students during Plaza Day with Green Campus Initiative, and took part in Campuswide Conversations, a safe space to talk about difficult issues; at Stellenbosch, we presented during Orientation Week and at residences with EcoMaties (where that robot was made from trash), met with health science lecturers supportive of our cause, and showed the documentary Temperature Rising at the Neelsie Cinema.

Our aim is to grow our body of student support, to pressure other universities to follow UCT’s example in committing to divest from fossil fuel companies − we’re continuing to ask the UCT vice-chancellor’s office for progress on the university’s 2022 divestment decision − and to cut all ties with fossil fuel companies.

We’re consistently telling students that they can do something to help avert climate breakdown. They are more powerful than they may think!

And the best way to combat climate anxiety is to take action.

“Ninety One and Allan Gray balk”

We have been trying to meet with Ninety One and Allan Gray representatives in person for several years. At last, both agreed to meetings early this year, possibly due to the pressure placed on both companies when our Investment Justice Walk planned to go past their offices late last year.

Sadly, they gave short shrift to our request that they create a fossil fuel-free fund, Ninety One rather less dismissively than Allan Gray.

Ninety One’s core reason was that it would be too expensive and laborious; Allan Gray cited similar financial and practical constraints, with other concerns including that divestment would reduce accountability over companies like Glencore and Anglo American when they de-list or unbundle parts of their business. The interactions left us dismayed.

“Allan Gray kept talking about risk, but Allan Gray himself was a risk taker and trailblazer. He might actually have been open to the concept of divestment,” observed our campaigner Sandrine Mpazayabo. “Maybe the company should revisit their organisational values and those of Allan Gray himself.”

“Why they are wrong”

Ninety One also believed its clients are more worried about feeding their families today than what the world might look like in 10 years’ time. This might be true, but we heartily disagree with its stance.

Firstly, it IS possible to set up South African funds that are very largely fossil fuel-free, as has already been done by Efficient Wealth, Old Mutual and Sanlam, whose offerings are listed in our Planet A Investment Guide. (Readers, please consult it and consider these funds, if you haven’t already!)

Secondly, climate breakdown will make all South Africans poorer, making it increasingly hard for them to provide that food they’re already struggling to give their loved ones. Meanwhile, the evidence is that a large majority of South Africans want far greater action on climate change.

Thirdly, every institution must do what it can to avert the growing climate crisis. There can be no backing out because the process seems too onerous and awkward. The effects of climate breakdown will cause us all far more pain, financially and practically, than failing to act.

“Persevering in the long, hard battle”

“Even having these asset managers agree to meet with us, is progress, and our team is carrying on with the long, hard battle,” said Sandrine.

“We’re considering our next steps and welcome your ideas. Both asset managers said they are open to feedback from their clients, so we encourage our supporters to contact them.

“They might be more open to you than they were to us.”