Timeline and summary of Fossil Free UCT campaign
2013
November 2013
– Letter sent to UCT Finance calling for fossil fuel divestment
- Inquiry about UCT’s investment policies and practices
- UCT’s endowment is greater than R2 billion
- Call for UCT to not contradict its climate change researchers
2014
July 2014
– Fossil Fuel UCT campaign officially launched
- Presentation on the background and motivation for divestment
- Guest speakers Jolynn Minnaar (director of Unearthed), Richard Calland (Law faculty) and Prof Mark New (ACDI)
- More than 100 people in attendance
September 2014
– Second letter sent to VC Max Price and management asking for information
- Request of information on UCT’s fossil fuel investments
- Request on what the Joint Investment Committee’s (JIC) next steps will be regarding divestment
- General appeal for more transparency and engagement, given the seriousness of climate change impacts
November 2014
– Renewed call to UCT Council for divestment
- This was done together with a motivation for all the reasons fossil fuel divestment should and must be considered (see link)
2015
January 2015
– UCT Council proposes an advisory committee regarding fossil fuel divestment and ethical investment issues
February 2015
– Global Divestment Day demonstrations
May 2015
– Fossil Free UCT and GCI host May Boeve from 350.org
- Fossil Free UCT also host a session between May Boeve and VC Max Price and member of investment task team
July 2015
– ACDI masters students and department of EGS write to the university urging divestment
- “We believe that fossil fuel divestment is morally, financially and developmentally the right thing to do”
- Reminder that 2015 is a critical year, especially with COP21 in Paris
- UCT can play a leading role by committing to divestment
August 2015
– Fossil Free UCT participates in a meeting of the university’s ethical investment task team
2016
May 2016
– Panel discussion on merits and demerits of fossil fuel divestment
- Representatives from Commerce Faculty, GSB, GCI and Fossil Free SA coordinator
- Divestment is more than removing money from companies that contribute to climate change – it is a symbol that the university commits to climate action
- Stakeholder engagement vs. divestment was discussed
- Nuances on both sides to be considered, but it is also about ethical and moral issues of investing in fossil fuels
May 2016
– Fossil Free UCT attends meeting of the Ethical Investment Task Team
- Meeting discussed a draft proposal for establishing a responsible investing framework for the university
September 2016
– UCT GCI students attend a summit hosted by 350.org
- Divestment strategies were discussed amongst UCT, Stellenbosch and 350 Africa team
November 2016
– Petitions for UCT to divest were handed to VC Max Price by GCI and CAP
- The 2016 renewed call to divest letter was handed over
- A separate letter from the ACDI masters class was handed over
- The original Fossil Free UCT petition with over 400 signatures was handed over
- VC Price asked for more student leadership and engagement regarding divestment at UCT
2017
March 2017
– UCT convocation passed a non-binding motion for the university to rid itself of all investments in fossil fuels within five years
- Convocation comprises of UCT alumni, vice-chancellors and academic staff
- VC Price asked for the motion to be amended to not include the 5 year period for divestment, but this did not pass
- “Despite being non-binding, Convocation’s endorsement of divestment is significant, as it marks yet another call from the university community to the administration to align the university’s investments with its values”
- Once again a call for disclosure of investments was requested
May 2017
– UCT GCI and CAP host Global Divestment Mobilisation (GDM) events to raise awareness and engagement with students
