The group aims to mobilise between R250bn and R300bn in sustainable finance by end of 2026
The Standard Bank Group will no longer be funding any new construction of coal-fired power plants or the expansion of generating capacity of existing coal plants. That was one of the targets contained in the group’s climate policy unveiled on Wednesday.
The bank’s climate targets will have it walk a fine line between supporting economic development in Africa, while progressively reducing its contribution to carbon emissions and financing of nonrenewable energy projects...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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