UCT commits to divest from fossil fuels, including fossil fuel industry endowment
The University of Cape Town (UCT) Council has agreed, in principle, to divestment from fossil fuels, including divesting its endowment formally from the fossil fuel industry.
This approach will put back into society, the environment and the global economy more than is being taken out, the council says.
This decision will be executed in a responsible, transitional manner. Firstly, through the immediate divestment from internationally exposed fossil fuel investments and immediate investment in renewable energy and/or green economy instead of new investments in fossil fuels
Secondly, in the local economy, UCT will work towards achieving a goal of being net-positive by 2030.
By divesting from fossil fuels, the university is further amplifying its position and signalling to policy makers the need to act now on climate change.
“This decision by the council exemplifies the university’s deep commitment to promoting the development and use of clean, sustainable and renewable energy. It is also part of how we make long-term investment decisions that support our teaching and research mandate as a university, says UCT finance executive director Vincent Motholo.
“We do not believe investments in fossil fuel are prudent. With the growing threat of climate change to the environment, drastic actions are needed and UCT needs to be part of the climate crisis solution.”
The decision by the university is a commitment to long-term sustainability, and part of its Vision 2030. It is part of a bigger vision, process and journey to look at how UCT can be more sustainable.
The university is joining many organisations in looking at its investments carefully and how it can continue the commitment to social justice, responsible investing and environmental sustainability.
Comments
Research Reports
Latest Multimedia
Latest News
Showroom
FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...
VISIT SHOWROOM
Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
