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.

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