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Just Share has analysed the latest climate risk-related disclosures of SA’s traditional big five banks and has concluded that they are largely falling short on one of the world’s key frameworks for reporting climate-related information.

The shareholder activist group assessed the climate risk disclosures of Investec, FirstRand, Standard Bank, Nedbank and Absa against the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). While Just Share acknowledged that SA banks were still largely in the early cycles of adopting TCFD recommendations, it found that they all had “a way to go” in making adequate disclosures, particularly when it came to risk management...

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