Standard Bank targets R50bn in sustainable financing for 2022
‘Everyone is starting to realise that it’s not a choice. It’s actually the way you have to do business,’ investment banking executive Anneke Lund says
Standard Bank aims to disburse between R40bn and R50bn in sustainable financing to clients in 2022, as listed corporates in particular increasingly embrace the concept of incorporating the achievement of environmental, social and governance (ESG) targets into their loan agreements.
That 2022 target forms part of Standard Bank’s broader ambition to mobilise a cumulative R250bn to R300bn in sustainable financing to its clients by the end of 2026, which it announced in mid-March when it unveiled its new climate policy. That R250bn to R300bn target also includes R50bn in financing that is specifically earmarked for renewable energy projects...