GRAY MAGUIRE: Markets spurn climate activists and cling to fossil fuels
Thungela and Exxaro refuse to table resolutions as turnarounds of Nedbank, Absa and Standard Bank disappoint
21 June 2023 - 05:00
It has been a tough few weeks at the coalface for SA climate activists, with refusals by Thungela and Exxaro to table shareholder-proposed climate lobbying resolutions and disappointing turnarounds on fossil-fuel lending reported by Nedbank, Absa and Standard Bank.
These disappointing local outcomes, which resulted in climate change poster-child and former Greenpeace head Kumi Naidoo being ejected from Standard Bank’s AGM last week, are representative of the stubborn dependency of global markets on fossil fuels for our primary energy generation...
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