Financial services firm Standard Bank has reduced the carbon emissions from its facilities across Africa by 4.6% year-on-year in 2023, putting the group ahead of its 2040 net-zero target, says Standard Bank Group COO Margaret Nienaber.
Standard Bank South Africa has reduced its carbon footprint in its owned buildings by 52% in the past decade, she adds.
Further, the group plans to further expand its group-wide solar photovoltaic capacity by 25% this year, while its operation in Zambia will launch its first net-zero branch this year.
Additionally, the in-country headquarters in Zimbabwe will become the bank's first net-zero commercial facility in the first quarter of 2026, Nienaber notes.
“The group's success is attributable to the prioritisation of energy efficiency projects in its corporate offices, data centres and branches. Protecting our planet's finite resources is both a moral obligation and a business imperative for Standard Bank.
“Through our focus on energy efficiency, renewable energy adoption, water conservation and sustainable design principles, we are minimising the environmental impact of our operations while realising significant cost savings,” Nienaber says.
The group has 19 Green Star-rated facilities, including corporate head offices and branches in Namibia, Nigeria and South Africa.
Standard Bank has made substantial investments in various initiatives as part of its journey in building sustainable operations and business resilience, she adds.
“The investments in clean, renewable energy support Standard Bank's environmental sustainability commitments, and also aid in the global transition towards a low-carbon economy. Standard Bank's path to net-zero carbon emissions will help drive positive change and nurture a sustainable future for all,” she says.