The City of Cape Town has committed to divesting from fossil fuels. This means they will withdraw their money from supporting fossil fuel assets and companies that are not committed to stopping climate change. The commitment is a fantastic start – now, we are requesting a clear timeline and roadmap for the City’s divestment.
What is divestment?
Divestment is the opposite of an investment – it simply means moving pensions, savings, and investments that are unethical or morally ambiguous. Fossil Fuel investments are a financial risk for investors and an environmental risk for the planet, so we’re calling on people, councils, universities, and churches to divest from these companies.
We are sending one clear message: it is time to end the age of fossil fuels — because that’s what it really means to solve the climate crisis. Fossil fuels are history, our future is in clean, renewable sources of energy.
“It makes no sense to invest in companies that undermine our future. We need an apartheid-style boycott to save the planet” – Desmond Tutu 2014