Climate protesters demand reparations from Standard Bank for fossil fuel investments

About 80 people gathered in Rosebank to protest against Standard Bank and TotalEnergies’ investment in fossil fuels. Photo: Kimberly Mutandiro

Dozens of climate activists gathered outside the headquarters of Standard Bank and TotalEnergies in Rosebank on Tuesday, demanding an end to fossil fuel investments in South Africa and across the continent.

The protest was part of the continent-wide Week of Action (18–24 August) in solidarity with communities opposing fossil fuel projects in several African countries.

The activists, including people from mining-affected communities, condemned what they called “fossil colonialism” and called for reparations, the cancellation of fossil fuel licences and contracts, and a shift towards working-class ownership of green energy alternatives.

In a memorandum to Standard Bank, protesters accused the bank of being a “chief accomplice” to TotalEnergies’ harmful operations and of bankrolling projects that displace communities and worsen the climate crisis. They cited the bank’s $485-million investment in the Mozambique LNG project, its support for the Coral Floating LNG Facility, and its role in funding the East Africa Crude Oil Pipeline.

Demands included the bank’s immediate withdrawal from these projects, a public commitment to end fossil fuel financing, investment in renewables, and reparations for affected communities.

A separate memorandum to TotalEnergies welcomed a Western Cape High Court ruling that set aside its offshore exploration rights along South Africa’s southwest coast. Activists called the judgment a win for coastal communities and small-scale fishers.

They rejected further fossil fuel projects by TotalEnergies and demanded investment in clean, equitable alternatives.

Zaki Mamdoo of the Stop EACOP campaign said, “Total must pay reparations for the damage and harm it has caused, and leave the African continent.”

Earthlife Africa’s Ulrich Steenkamp said engagement with both companies had been “futile,” and criticised continued investment in oil and gas.

Dean Bhebhe of Donkers Africa said marine communities had lost livelihoods due to fossil projects and deserved reparations.

People from Tembisa and Orange Farm called for climate justice. “Some of us do not even have electricity,” said Zandile Sifolo from Orange Farm. “The money being invested in the fossil industry should be used towards cleaner energy for our communities.”

Representatives from Standard Bank and Total received and signed memorandums. Both companies are yet to respond to requests for comment.

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