Dear CEOs of Allan Gray, Coronation, Investec, Old Mutual, Stanlib and the Government Employees Pension Fund,

We call on you – as South Africa’s top asset managers – to build decarbonised, accessible unit trusts and other investment vehicles for the public, and for the Public Investment Corporation to invest the assets of the Government Employees Pension Fund only in ways that support the future world in which beneficiaries are supposed to enjoy their retirements.

We also call on all the members of the South African financial services industry – financial advisers, pension and provident fund trustees, asset managers, investment consultants, fiduciaries and custodians – to support this transition, to create ethical and responsible investment opportunities, and adopt the rapidly developing new global standards for climate- and carbon-related financial risk disclosure.

We call on the investment and banking community to cease all new funding in the fossil fuel sector, to publicly embrace robust regulation of existing coal mines and coal-fired power stations, to engage government in support of renewable energy development, and to work towards a complete transition away from fossil fuels by 2050 in accordance with widely recognised scientific imperativesa

The campaign was also endorsed by 350 Africa, African Climate Reality Project, amandla.mobi, Greenpeace Africa, Centre for Environmental Rights, Climate Action Project (UCT), Cullinan & Associates, Earthlife Africa, Eco-Maties, Global Climate Finance Campaign, Green Anglicans, Greenpop, Groundwork, Oxfam South Africa, People’s Health Movement, SA Climate Action Network, WWF South Africa and SAFCEI.