Just Share has harshly criticised Absa’s climate-risk policies, accusing SA’s fourth-biggest lender of failing to understand climate science and falling behind its peers in taking proactive steps to facilitate the global transition to a low-carbon economy.

The shareholder activist group has taken particular aim at Absa’s 2021 Task Force on Climate-related Financial Disclosures (TCFD) report, which it released in May 2022. It also criticised aspects of the bank’s coal financing and oil and gas financing standards...

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