Grindrod Bank
This brand is rated based on African Bank Limited
Your bank falls short in climate responsibility.
Grindrod Bank is a division of African Bank Limited and, as such, has the same rating. African Bank is not transparent about its lending activities, so we cannot rule out that it finances the fossil fuel industry. The absence of detailed greenhouse gas emissions reporting makes it difficult to assess the bank's true environmental impact.
We would like to see the bank:
- Disclose the extent of its financing of the fossil fuel sector
- Put in place an explicit policy that it will not lend to fossil fuel companies or projects
- Measure greenhouse gas emissions enabled by its lending
- Set science-based climate targets over those emissions
- Start financing renewable energy companies and projects
Last reviewed:
Financial institutions in this category have shown a weak commitment to environmental sustainability and transparency.
If they engage in energy financing, they are likely to lend far more to fossil fuels than renewable sources. They may have limited or no effective policies to improve their climate impact and may lack meaningful targets for reducing the emissions they are responsible for.
While they might show some engagement in sustainable practices or offer certain green lending products, these efforts are insufficiently developed or prominently displayed to make a significant impact.
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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