free for mac instal DIG - Deep In Galaxies

Subsidies and tax breaks in support of fossil fuels encourage high consumption and production trends which promote lower costs for the fossil fuel industry.

Government support for the fossil fuel industry remains high. The negative impacts of coal are responsible for exacerbating damaging social and economic impacts on the environment and local communities. South Africa obtains almost 90% of its electricity supply from coal and 77% of its primary energy needs from coal. With demand for fossil free indices increasing in South Africa, campaigners at 350Africa, Fossil Free South Africa, University of Cape Town, Stellenbosch and the University of the Witwatersrand are calling on fund managers to create fossil free investment portfolios and support the leadership of ACSA and the Desmond Tutu Foundation to take on the moral leadership and negotiate the establishment of a new wave of ethical investments in the country.Īt present, the South African energy context is dominated by coal. As a result, sustainability indices and funds often include unethical or morally ambiguous companies. This means that fossil fuel or tobacco companies can foster ‘good corporate citizenship and promote sustainable development’ if they perform well on ESG factors. The field of ethical investment is maturing in South Africa, but in its current state, most Socially Responsible Investment (SRI) indices are embedded with traditional indices against a set of Environmental, Social and Governance (ESG) concerns. Both institutions have taken the moral leadership on the call for divestment but are confronted with the lack of available fossil free investment portfolios in South Africa’s financial markets. The motion passed by the Anglican Church of Southern Africa (ACSA) follows the leadership of the Desmond and Leah Tutu Foundation’s vote to divest earlier on this year. The provincial Synod of the Anglican Church of Southern Africa has announced their support for the fossil free divestment campaign by voting to divest.

Free for mac instal DIG - Deep In Galaxies