Investment giant Allan Gray has said no to pleas by activist group Fossil Free South Africa , on behalf of more than 100 Allan Gray clients, to set up a fossil fuel-free investment fund. In a letter addressed to Allan Gray, FFSA urged the company to create a “fossil-free” South African equity fund and divest from fossil-fuel companies “as soon as possible”. The letter is part of a campaign, launched in 2021, aimed at South Africa’s seven biggest investment managers.
We also recognise the role we play in being part of the solution. “We do not believe the establishment of a fossil fuel-free fund, nor divestment, is the answer. We believe that the best approach is to use our active investment strategy to tackle climate change. “We engage with management and boards of investee companies on climate risks and use our influence to push for positive change and to encourage better environmental decisions and disclosure,” Artus said.
FossilFreeSA well done to Allan Gray!
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