Our climate strategy
We are committed to achieving net-zero emissions carbon emissions for our lending and investment portfolio by 2050. Our approach to managing climate-related risk and opportunity is grounded in our group purpose: Africa is our home, we drive her growth. We commit to enabling Africa’s just energy transition and to prudently managing climate risk.
Mitigating risk and shaping a sustainable future
In line with the goals of the Paris Agreement, we are committed to achieving net zero carbon emissions in relation to:
- Our own operations, including office building, branches and datacentres, for newly built facilities by 2030 and for
- existing facilities by 2040
- SBG's lending and investing portfolio by 2050
Driving Africa’s just energy transition
To achieve a just transition, we must balance environmental priorities with the needs of a continent that faces significant social and economic challenges, including the need for better access to modern energy services and the need for economic development to lift people out of poverty. We are supporting Africa’s just energy transition by:
Working with our clients to provide the finance and support needed for individuals, businesses and economies to mitigate their emissions, adapt to a changing climate and strengthen their resilience to climate risk
Growing clean energy capacity in Africa, including renewable energy, distributed energy systems, and associated energy infrastructure
Actively managing our exposures to oil and gas over time as part of a broader transition to net zero, and engaging with our clients to encourage and support their decarbonisation efforts
Our group-led program ensures that climate-related factors are fully integrated into our overall risk management framework, impacting multiple areas of risk. This comprehensive approach allows us to effectively manage potential challenges and make informed decisions for the future.
Our climate journey and future commitments
Our climate policy prioritises Africa’s social, economic and environmental context. We’ve set targets for thermal coal, oil, gas and agriculture and will expand our climate targets in sectors including insurance, residential and commercial property, and transportation.
2019
- Implemented restrictions on financing thermal coal mining and coal-fired power generation
- Joined UNEPFI’s TCFD pilot programme for banks
- Established sustainable finance team to leverage climate-related opportunities
2019
2019
- Implemented restrictions on financing thermal coal mining and coal-fired power generation
- Joined UNEPFI’s TCFD pilot programme for banks
- Established sustainable finance team to leverage climate-related opportunities
Download our climate policy documents
More on sustainability
Environmental, social and governance
Environmental, social and governance (ESG) risk management is embedded in our policies, processes, and governance structures.
Our approach to sustainability
Our comprehensive approach to sustainability is embedded in our business strategy and operations.