Standard Bank
Your bank falls short in climate responsibility.
Standard Bank is transitioning from funding fossil fuels to funding renewable energy. However, according to in-depth analysis conducted by Just Share, in 2003 renewables made up almost 26% (R34,6 billion) of the bank’s total energy financing (R133,28 billion), with fossil fuel financing constituting the remaining 74%.
It has measured greenhouse gas emissions enabled by its lending, set sustainable finance targets (including short-term ones) and is offering "green" consumer products.
We would like to see the bank put in place a much more stringent exclusion policy stating that it will not provide any new financing to fossil fuel companies and projects, especially to finance expansion.
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.
Take Action Today
Every person who moves their money to a sustainable bank sends a powerful message. Join thousands of others in choosing to support a green future.
Find a Sustainable Bank