Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

bs-regular
bs-extra-light
bs-light
bs-light
bs-cond-light-webfont
bs-medium
bs-bold
bs-black

Community


Share knowledge. Ask questions. Find answers.

Community blog

Read our latest news and views and get to know us better

Putting climate change policy under pressure
Standard Bank Team
Super Contributor

Standard Bank Group last week also signed the 2014 Global Investor Statement on Climate Change. We join the world’s largest financial institutions in calling for world governments to amend climate change policy prior to United Nations Environment Summit. Karin Ireton, Head of Sustainability Management at Standard Bank Group, was there.

Financial institutions across the world, together controlling assets worth more than US$24-trillion, have called on government leaders to take action to close gaps, weaknesses and delays in energy policies that could increase the risks to their investments brought about by climate change.

The group expressed their concern that current investments in clean energy had totalled only US$25-billion when they should average US$1-trillion a year from now until 2050.

The statement calls on government leaders to act to provide stable, reliable and economically meaningful carbon pricing policies that will help redirect investment that is aligned with the scale of climate change. The document goes against the common perception that there was a need to choose between economic well-being and climate stability. In fact, both were needed for the future, but required that there should be an unprecedented rechannelling of investment from today’s economy into the low-carbon economy required for a sustainable future.

In addition to low carbon investing and financing activities many banks, including Standard Bank Group, have begun directing some of their funding to renewable energy and other low emission activities.

Like the other signaturies, at Standard Bank Group we regard it our duty to work with policy makers to identify and evaluate low-carbon investment opportunities; and effecgively assess risks and opportunities presented by climate change.

As a signatory to the statement, Standard Bank Group will continue to report on the actions we’ve taken and the progress we make in addressing climate risk and investing in areas such as renewable energy, energy efficiency and adapting to climate change.

See www.standardbank.com/sustainability for more on how Standard Bank Group's approach to sustainable development.