You are currently viewing our desktop site, do you want to download our app instead?
Moneyweb Android App Moneyweb iOS App Moneyweb Mobile Web App

NEW SENS search and JSE share prices

More about the app

Fund managers push Standard Bank on climate-change resolution

Asked to include a resolution on climate-change targets at its May 27 annual general meeting.
Image: Waldo Swiegers/Bloomberg

Standard Bank, Africa’s biggest bank by assets, has been asked by a group of fund managers to include a resolution on climate-change targets at its May 27 annual general meeting.

Abax Investments, Aeon Investment Management and Visio Capital Management Ltd. are seeking a non-binding resolution that would push the lender to set short, medium and long-term goals to reduce its exposure to fossil fuels, Just Share, a shareholder-activist group that’s working with the fund managers, said in a statement on Wednesday.

Standard Bank is yet to respond, they said.

South African banks are under increasing pressure to reduce their exposure to fossil fuels in a country that’s almost entirely dependent on coal for electricity generation.

© 2021 Bloomberg

COMMENTS   5

Sort by:
  • Oldest first
  • Newest first
  • Top voted

You must be signed in to comment.

SIGN IN SIGN UP

“Standard Bank, Africa’s biggest bank by assets”

The share price does not indicate that.

My worst performing stock in my portfolio.

Standard Bank is so far from climate change responsibilities its not funny.

The resolution should include a refusal to be intimidated into poor quality of business-related decision making.
Too late for doing this with all the race-based political impositions that have evidently led there.

I sincerely hope that Standard Bank sends these egocentric climate changers to hell and rather concentrates on their banking services. Fund managers whose only concern is the “climate change scare technique” should definitely not be supported.

I would be interested in the answer to the question of ‘who stands to gain from the actions of these activists?’. None, or very few of us currently living will ever see what the results of all this ‘climate-change’ activism will produce. In all probability the so-called actions will never be conclusively proved. If they are an apparent failure in the eyes of some the immediate response will be ‘yes, but if we had not done this or that, the results would have been worse’.

End of comments.

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR
BTC / USD

Podcasts

INSIDER SUBSCRIPTIONS APP VIDEOS RADIO / LISTEN LIVE SHOP OFFERS WEBINARS NEWSLETTERS TRENDING PORTFOLIO TOOL CPD HUB

Follow us:

Search Articles: Advanced Search
Click a Company: