Our climate strategy
We are committed to achieving net-zero emissions by 2050 and supporting a just energy transition in Africa. Our climate strategy is built on a science-based approach, a commitment to transparency, and a collaborative effort with our clients and stakeholders.
Mitigating risk and shaping a sustainable future
In line with the goals of the Paris Agreement and the UAE Consensus adopted at COP28 in December 2023, we are committed to achieving net zero across:
- Direct operations for newly built facilities by 2030
- Direct operations for existing facilities by 2040
- Lending and investing activities by 2050
Driving Africa’s just energy transition
We believe that providing access to reliable energy across our communities will lead to a sustainable and prosperous future for Africa. We are supporting our continent’s energy transition by:
Expanding our financing for renewable energy, distributed energy systems, and associated energy infrastructure
Partnering with our clients to support their energy transitions, improved energy efficiency, and decarbonisation
Providing innovative renewable energy solutions for households, small businesses, and farmers
Mobilising R65 billion for the development of new renewable energy infrastructure
Financing 3 640MW of new renewable energy infrastructure in South African since the launch of South Africa’s renewable energy independent power producers programme (REIPPP) in 2011
We take a careful approach to climate management and 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.