Back

Net-zero targets: Why SA pension funds must focus on the real economy

17.02.2026
By RisCura

Real-world emissions reduction, engagement, and a locally grounded just transition are emerging as core fiduciary tools. 


Citywire South Africa recently featured RisCura’s Brooke Leaf-Wright (Senior Sustainability Analyst) alongside Ninety One’s Ann-Maree Tippoo in coverage of a Batseta webinar exploring why South African pension funds’ net-zero strategies must prioritise real-economy emissions reductions and not “paper” portfolio greening. 

Leaf-Wright underscored collaboration and accountability in the investment chain, arguing that asset owners should call for “increased consistency in the data disclosed by asset managers” to better interpret performance and hold managers accountable for transition strategies. The webinar also emphasised engagement over divestment, with investors encouraged to work directly with high-emitting firms and use collective initiatives to drive change. 

Leaf-Wright further shared analysis to address return concerns, noting that from 2015 to 2025 the returns of the MSCI ACWI, MSCI ACWI ex-coal, and MSCI ACWI ex-fossil fuels indices were “highly correlated”, suggesting exclusions may not require major sacrifice. 

For trustees and fund selectors, the message is clear: credible net-zero alignment is increasingly central to long-term risk management in South Africa’s economic context. 

“The adoption of ESG or a net-zero journey must be by Africans for Africans.” – Brooke Leaf-Wright (RisCura) 

Read the full article on Citywire South Africa here. 

Author

  • RisCura is a global financial services firm with more than $200 billion in assets under advice and reporting. We partner with institutional investors across emerging markets, bringing specialist investment management, advisory, and analytical expertise to help clients make informed, long-term investment decisions.

    Guided by our “Invest with Care” philosophy, we recognise that investment decisions are not only about money and numbers, but about the people and futures they affect. Through tailored solutions, deep research, and a client-centric approach, RisCura helps investors navigate complexity, manage risk, and create lasting value for their beneficiaries.

    RisCura is known for its focus on liability-driven investing, responsible investment practices, investment transparency, reliable valuations, independent risk assessments, performance standards, and long-term investment outcomes.

    Our capabilities span investment advisory, investment management, investment analytics, institutional platform services, and alternative investment services. Across these areas, we combine consistent methodology and proprietary tools with deep local insight, recognising that each market is unique while responsible investing remains universal.