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Bank report highlights its clean-energy investments

23rd May 2014

By: Sashnee Moodley

Senior Deputy Editor Polity and Multimedia

  

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South African financial insti- tution Standard Bank has invested significantly in renewable-energy projects and in reducing its carbon footprint as part of its commitment to embed sustainable thinking and sustainable business practices at every level of its operations.

Standard Bank released its 2013 ‘Sustainability Report’ last month to highlight these investments and achievements.

Standard Bank head of sustainability management Karin Ireton tells Engineering News that it under- wrote R6.4-billion towards five solar and wind projects with an installed renewable-energy capa- city of 353 MW in the second phase of government’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP).

“Government aims to secure 17 800 MW of renewable energy by 2030, which will lower electricity prices, reduce the reliance on coal and lower pollution over time. In the first phase of the REIPPPP, we underwrote R9.5-billion for 11 solar and wind projects with an installed renewable-energy capacity of 607 MW, and asset management company Stanlib has a R220-million equity stake in four of the projects,” she says.

In the second phase of the REIPPPP, Standard Bank supported five bids, four of which have successfully closed, representing an installed renewable-energy capacity of 258 MW and a total financing requirement of R5.3-billion. In the third phase, Standard Bank was awarded one bid with an underwrite value of R1.5-billion.

A R20-billion funding support agreement has also been signed with the Industrial and Commercial Bank of China for renewable-energy projects.

“Some of the projects are feeding energy into the national grid. We can see that renewable energy and efficiency issues have come of age. Across Africa, we are focused on power infrastructure and gas development projects, as access to affordable and efficient electricity is critical to Africa’s development,” Ireton states.

Factors that drive the implementation of energy efficiency projects are the increasing cost of elec- tricity, security of supply in certain areas and the bank’s objective to reduce its carbon footprint.

Standard Bank has invested in understanding and controlling its carbon footprint over the years. The financial institution has retro- fitted many of its branches with energy efficient technology and metered these to ensure that savings are achieved. It is also considering ways of ensuring that its ATMs are efficient.

The institution’s long-term objective is to implement an energy management strategy with achievable targets across all its operations, with the lessons learnt in South Africa used to drive energy efficiency in its operations on the rest of the continent. However, the erratic electricity supply in some African countries means Standard Bank’s premises remain dependent on diesel for operational continuity.

“The amount spent on electricity to perform our daily activities is about R290-million a year for the South African operation; therefore, managing this cost materially contributes to our sustainable long-term financial performance. During 2013, the total amount of energy, including diesel and renewable energy, consumed by Standard Bank South Africa was 346 751 417 kWh,” Ireton says.

This equates to 0.01 kWh of energy per rand of total income generated, 12 466 kWh for each permanent employee and 313 kWh/m2 of floor space.

Standard Bank’s electricity profile has been calculated using an audited method based on metered data and average kilowatt-per-hour consumption, extrapolated to obtain the total electricity footprint across South Africa.

The decrease in electricity con- sumption by ATMs in South Africa is the result of a more accurate measurement method being used, owing to electricity meters having been installed in a few remote standalone ATMs in 2013 and this data is being extrapolated for each machine type.

“Our respective carbon footprints have been calculated according to the International Greenhouse Gas Protocol’s Corporate Accounting and Reporting Standard. We use the financial control method to determine what is included in our scope of reporting,” Ireton states.

Standard Bank’s carbon dioxide (CO2) equivalent for its South African operation in 2013 was 392 159 t, 5% lower than the figure for 2012. In relation to Standard Bank South Africa’s total income of R50.9-billion in 2013, CO2 generated per rand equates to 7 g. Each permanent employee generated about 12.7 t of CO2 and about 0.32 t was generated per square metre of floor space.

Standard Bank’s ongoing refurbishment projects are following the green building route. Renewable energy is a massive part of its invest- ment in terms of debt financing, Ireton says.

It has also been switching products to electronic statements and has been reducing in-house paper consumption.

Standard Bank South Africa has reduced the number of paper statements sent to customers by about 200 t and has met its target to reduce its paper consumption by 10% by 2015 using 2009 as a baseline year.

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor

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