Capitec Bank
Your bank is failing on climate responsibility.
Capitec's funding of the mining sector (and, within that, we have to assume of conventional oil & gas extraction) far exceeds its funding of renewable energy projects. The bank does have an exclusion policy stating that it will not lend to new projects and the expansion of existing projects in a number of industries, including coal mining, Shale oil and gas and LNG. However, this policy does not cover conventional fossil fuel extraction.
We'd like to see the bank measure and disclose greenhouse gas emissions enabled by its lending, set science-based climate targets, and start introducing "green" products, such as preferential rates on loans to purchase electric vehicles.
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Your bank may be ignoring the Paris Agreement.
The Paris Agreement set the goal to stay under 1.5°C of warming for very good reasons. According to the Intergovernmental Panel on Climate Change, an increase of just a couple of degrees more could lead to "substantial species extinction, large risks to global and regional food security", and an inability to work outside — or even live — in some areas of the world. Our world will become unrecognizable as ocean dead zones, floods, and extreme weather fuel social and economic disruption.
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