On the 1st of December, Earthlife Africa Jhb and allies will be marching on BHP Billiton, Nedbank, Standard Bank, and Eskom towards the Global Day of Action. All of these corporations continue to profit from the destruction of the planet and they make South African citizens pay the bill.
BHP Billiton has a Special Purchasing Agreement with Eskom at which it buys dirty energy below the cost of production. This means that WE pay for the loss with higher electricity tariff prices. BHP Billiton is also a major coal mining company in its own right: selling coal to Eskom at a profit and then buying electricity (made from that coal) at below market value. So we subsidise BHP Billiton twice.
Eskom says it is protecting the poor through its proposal for a 9% tariff increase. As social grants will not rise by 9%, the likelihood is that Eskom’s tariff increase will have a negative effect on the poor. Given Eskom’s continued addiction to coal-fired power stations, it is asking us to fund climate pollution, the effects of which will be to severely decrease living standards and destroy development gains post-liberation.
Nedbank: The self-named green bank is actually covered in soot and ash from its funding of coal-fired power stations. Nedbank invests in the very same activities that are destroying the planet and the very same creatures it says it wants to protect, to the tune of 85 million euros.
Standard Bank: This bank funds Eskom to the tune of 99 million euros. We will have to pay back these loans through higher tariff prices. We are paying for our own destruction.
We are for clean energy and increased free basic electricity.
We are against dirty energy and subsidising the richest corporations in South Africa.
March Details
Gathering point: West Gate Taxi Rank
Stopping at: Nedbank, Standard Bank, BHP Billiton and Eskom
Date: 1st of December, 2012
Start: 09:00h
End: 12:30h
More details to come. Join us!!!!
