Climate change and sustainable finance
We published our sustainable bond framework and adopted new policies governing new investment in coal mining and fossil fuels.
We issued sustainability-linked loans, structured to incentivise borrowers to improve their sustainability or transformation profiles (including a R2 billion sustainability-linked loan for the Vodacom Group, a R1.6 billion loan for Equites Property Fund, South Africa’s first BBBEEE performance incentive linked loan for Isanti Glass and a USD130 million sustainability-linked facility for Maersk.
We launched ESG Deposit Issue 1, an ESG linked investment-return on the US dollar deposit is linked to the market performance of the S&P 500 ESG Index.
We developed the PowerPulse platform, which connects business and industrial-scale energy users to solar photovoltaic engineering, procurement and construction partners.
Standard Bank is committed to driving sustainable and inclusive economic development across Africa through the delivery of sustainable finance solutions. As Africa’s largest banking group by assets, we recognise the impact of our business activities on the societies, economies and environments in which we operate.
We have embedded social, economic and environmental considerations into our corporate strategy and day-to-day decision-making, and we consistently work to maximise the positive impacts and mitigate any negative impacts arising from our business decisions and activities.
We recognise the threat posed by climate change to human health, food security and economic growth across Africa. We have identified climate-related risk as a top enterprise risk and material issue.
We are working to better understand and manage our exposure to climate risk and assisting our clients to do the same. We are committed to working with African governments and businesses to reduce their vulnerability and build resilience to the impacts of climate change, and to facilitate the development of renewable sources of energy and energy efficiency across the continent.
Working with our clients to develop appropriate solutions to mitigate and adapt to the effects of climate change
Providing financial products and services that support positive social and environmental outcomes, including green and social bonds, ESG-linked loans, sustainable trade solutions and impact investing
Providing environmental and social lending and advisory experience in respect of project finance, export credit and corporate finance product offerings
Progressively managing and shaping our portfolio in a manner that is consistent with achieving a low-carbon and climate-resilient economy needed to limit global warming to below 2 degrees, by supporting a just transition away from non-renewable energy sources in our countries of operation.
Working with our retail banking clients to adopt greener solutions for their homes and businesses.