CAPE TOWN – Fossil Free South Africa, with 17 partner organisations, is calling on South Africa’s biggest asset managers – Allan Gray, Coronation, Investec, Old Mutual, Stanlib – to build decarbonised accessible unit trusts and funds, and for the Public Investment Corporation to invest the Government Employees Pension Fund solely in climate-safe, fossil fuel-free investment vehicles.
‘For years, South Africans have wondered why our economy is struggling to serve all our people. The answers are complex; our history, corruption and state capture are undoubtedly massive drags on the economy, but it seems we continue to underestimated the invisible costs of our extractive economy and reliance on fossil fuels, particularly the damage to health and environment caused by Eskom and Sasol,’ said David Le Page, coordinator of Fossil Free SA.
The full costs of our reliance on non-renewable resources are substantial factors holding back our development. For example, a new study recently published in the SA Journal of Science estimates lifetime external costs of coal power from Eskom’s Kusile station will be between R1,4 to R3,2 trillion. While the immediate impacts of climate change, such as the Cape Town drought escalates and threatens the jobs of nearly 45 000 people in the Western Cape.
Meanwhile, the global fossil fuel divestment movement continues to expand. From Copenhagen, Seattle, Paris to Melbourne and Oxford. To date, global commitments, have reached over 700 institutions across the world, representing over $5 trillion under management. No less than 48 developing countries have 100% renewable energy targets.
‘Worldwide, people demand more action on climate change and have a right to fossil free investments that protect the future of their children,’ added Ahmed Mokgopo, 350Africa Divestment Campaigner. At Rocking the Daisies, we are expediting the divestment call and asking festival-goers to “Play hard, tread lightly” and keep the party going for climate change.
Join the movement
Festival-goers can take the following actions in support of a more secure climate right now.
Find out more about divestment – ‘How to become a Di-activist’ – a talk by FFSA member Mellony Spark at the TEDxCapeTown event.
Sign up for the FFSA mailing list (tinyletter.com/FossilFreeSA)
Become regular FFSA donors or make one-off donations using Snapscan (fossilfreesa.org.za/donate).
If you have strong links with funds/ institutions/ schools /foundations with endowed funds, ask them to divest from fossil fuels.
About Fossil Free SA
Fossil Free SA is a network of South Africans calling for divestment from fossil fuels and restorative reinvestment in sustainable energy. We want to stigmatise fossil fuel use, accelerate sustainable system change, slow climate change, reduce the financial risks of fossil fuel investments, and so help secure our human rights and common future.
Rocking the Daisies Festival: details and activities
When: 5 to 8 October 2017
Where: Cloof Wine Estate, Darling
More information: www.rockingthedaisies.com
The parade on Saturday 11h00 and 16h00 will start at the Green Village and make it’s way through the camp grounds, sowing the seeds of green fun and wisdom, with musicians, performers and Green Village activators leading the charge.
Greening the Festival
For the first time ever, the festival will utilise a full greywater solution, which will collect from the 200,000 litres of water used for washing and showering over the weekend, then filter and recirculate the water for irrigation on the venue’s farm. Similarly, waste management will be run as an in-house operation, with the setup of waste collection points. Vendors at the festival are also required to use ecologically-friendly packaging, to minimise the amount of harmful waste produced.