Green financing, producing value for society

[MasieC]

Standard Bank is at the forefront in Africa with an innovative and dedicated sustainable finance business offering that benefits clients, communities, the environment and the corporate governance landscape.

Standard Bank of South Africa Limited (“SBSA”) has issued its first ever green bond, via private placement with IFC, a development finance institution focused on the private sector, part of the World Bank Group.

It is a 10-year facility with the express purposes of raising capital for use in on-lending by Standard Bank Group’s (SBG) Sustainable Finance Business Unit and achieving longer tenor financing.

The USD200 million, London Stock Exchange-listed green bond is Africa’s largest green bond and South Africa’s first offshore green bond issuance. The capital raised as a result will be used to finance eligible green assets (renewable energy, energy efficiency, water efficiency and green buildings) aligned to SBG’s Sustainable Bond Framework. The IFC's Performance Standards, which are part of the IFC’s Sustainability Framework, have become globally recognized as a benchmark for environmental and social risk management in the private sector. Read more here: https://bit.ly/2TUJCTg

In Nairobi, Acorn Holdings (Acorn), the largest purpose-built student accommodation property developer in Kenya, has cross-listed its KES 4.3 billion green bond programme, on the International Securities Market (ISM) of the London Stock Exchange.

Stanbic Bank Kenya Limited and SBG Securities Limited acted as sole Arrangers and Lead Placing Agents for the Issuance. The bond programme first listed at the Nairobi Securities Exchange on 13th January 2020.

The bond is a significant step in the development of green finance for East Africa, it is a testament to the bank’s revamped commitment to provision of housing which is one of the key development priorities of the Kenya government.

Kenyas Green Economy Strategy is geared towards enabling Kenya to attain a higher economic growth, which firmly embeds the principles of sustainable development in the overall national growth strategy.

For Stanbic Bank, sustainability is multi-dimensional and is part of the operations. It is about mitigating risks, building resilience, creating opportunities and transforming lives. It is the long-term goal of sustainable development which encompasses meeting the needs of the present without comprising the ability of future generations from meeting their needs.

When it comes to financing, clients should be considering green, social and sustainable products as investors increasingly shift their mandates to sustainable businesses. Read more here: https://bit.ly/333oSgm