Investment Justice Walk will spotlight SA asset managers still investing in fossil fuels
Cape Town, 29 October 2024 – Fossil Free South Africa (FFSA), with partner civil society organisations, invites the public and media to join our inaugural Investment Justice Walk on Friday, 15 November 2024.
This event will highlight the critical need for accelerating ethical and socially responsible investment to secure human rights in South Africa, particularly in relation to the climate breakdown that is bringing worse droughts, floods and other extreme weather events for societies across our country – and world.
Starting at St. George’s Cathedral, the walk will pass those historical and modern landmarks of Cape Town that tell the story of how finance has been used to mould society, for good and ill.
This encompasses the shareholder capitalism of the Dutch East India Company, ethical responses to slavery and apartheid, and the investment choices of present-day financial institutions such as Standard Bank, Allan Gray and Ninety One Asset Managers.
These latter two financial firms, ironically located on a foreshore threatened by climate-induced sea-level rise, continue (along with many industry peers) to invest in and fund the fossil fuel companies that are breaking our global climate and making themselves the biggest human rights abusers of our era.
Along the way, speakers will address topics including:
The Dutch East India Company’s role in establishing shareholder capitalism
How divestment helped end slavery and apartheid
The Parliamentary Pension Fund's investments in fossil fuels and other
controversial sectors, and key issues to be raised at COP 30
Community members will explain how they are directly affected by the climate events brought about by fossil fuel companies
Corporate climate accountability: The walk will end at the V&A Waterfront, where
we will challenge asset managers Ninety One and Allan Gray to more closely align their investments with science-based targets for reducing climate-breaking carbon emissions.
Investment Justice Walk details
Date: Friday, 15 November 2024.
Time: 09h30 – 12h30
Starting point: Outside St. George's Cathedral, 5 Wale Street, Cape Town City
Centre. (We recommend parking in Mandela-Rhodes Place public parking
garage, access from Burg Street.)
End point: Outside Allan Gray, 1 Silo Square, Victoria & Alfred Waterfront.
We’ll provide: Refreshments en route and transport back to the starting point after the walk has ended (from V&A back to St George’s Cathedral).
What to bring: Water, sunscreen, comfortable walking shoes, a warm top and a hat.
Sign-up/RSVP: Members of the public can sign up for the Investment Justice Walk at bit.ly/ffsajusticewalk.
For more information
Sandrine Mpazayabo: sandrine@fossilfreesa.org.za / +27 62 365 8220
Steph Cookson: steph@fossilfreesa.org.za / +27 76 090 9486
