EDITORIAL: Nedbank sets a green example
The bank’s new energy policy sets the climate bar high, and other banks need to take note
Through its new energy policy and position on climate change, Nedbank plans to become a leader in a decarbonising economy and hopefully not a lone ranger.
In 2019, it became the first and only SA bank to adopt a policy not to fund new coal-fired power generation. That’s regardless of the technology used, meaning that even highly efficient burning of coal, or plants fitted with carbon capture and storage, won’t cut it. Its latest energy policy, published last week, gives some more limits...