News - Standard Bank Group is gearing up to host the fourth instalment of its highly anticipated Climate Summit.

Articles

Standard Bank Group is gearing up to host the fourth instalment of its highly anticipated Climate Summit.

Source By Mpofu Sthandile
2 months ago

Standard Bank Group is gearing up to host the fourth instalment of its highly anticipated Climate Summit.

The Summit, which will be held in Johannesburg next month, is one of the cornerstones of Standard Bank Group’s sustainability strategy. Standard Bank Group has committed to mobilise a cumulative amount of ZAR 250 billion in sustainable finance by the end of 2026.

The Group has managed to reach ZAR 129.6 billion of this funding thus far and is well on track to meet its target. The Group is also aiming to achieve net-zero across our lending and investing activities by 2050, and in our direct operations by 2030 for newly built facilities, and by 2040 for existing facilities.

“This summit is more than just a gathering; it’s a call to action that adds to our dedicated focus which we have lent to sustainability issues,” explains Luvuyo Masinda, Chief Executive of Corporate and Investment Banking at Standard Bank Group.

“As we confront the realities of climate change, we must ensure that Africa’s path to a low-carbon future is one that also promotes economic growth, energy access and social equity. Standard Bank is committed to leading this charge, leveraging our expertise, resources, and partnerships to support sustainable development across the continent through products such as green bonds, sustainability-linked loans, and specialised advisory services”.

The Summit will feature a series of dynamic panel discussions exploring critical themes at the heart of Africa’s energy transition. In the session covering “Africa’s Energy Transition Paradox,” experts will grapple with the complex challenge of balancing carbon emission reduction with the urgent need to provide energy access to millions of Africans. This discussion will set the stage for an in-depth conversation on “Powering Africa’s Energy Transition,” in which industry leaders will share innovative approaches to harnessing the continent’s vast renewable energy potential while debating the role of carbon-based fuels in the energy mix.

Building on these insights, the third panel discussion will explore the topic of “Geopolitics and the Just Energy Transition”. Panellists will delve into the regional dynamics influencing the prioritisation of the transition in political agendas and investment decisions, and what this means to drive meaningful progress.

“Standard Bank refuses to merely be an observer of this pivotal moment for the African continent; we are committed to actively co-creating solutions, fostering partnerships and channelling investment into the projects and innovations that will define Africa’s sustainable future.

It is our responsibility, our commitment, and our opportunity to make a lasting difference – and we look forward to this Climate Summit 2024 being an opportunity to engage with individuals and organisations that share our passion,” concludes Masinda.