- South Africa and other African markets remain heavily dependent on fossil fuels, requiring a transition that protects local economies and livelihoods.
- Affordability pressures created by inflation and elevated interest rates continue to be a barrier to providing financing of renewable energy technologies to middle- and lower-income customers.
- Implementation challenges in South Africa's Climate Change Bill, including lack of targets and penalties for non-compliance.
FirstRand Limited
Greenhouse gas emissions & sustainability report data
By scope: Scope 3: 15 MtCO2e (2023). Figures are as stated in the company's own report and may use different boundaries, units or methods (for example market-based vs location-based Scope 2), so compare with care.
📊 Emissions by Scope (2024)
| Scope | What it covers | Reported value |
|---|---|---|
| Scope 3 | Other indirect emissions across the value chain (purchased goods, business travel, use of sold products, etc.). | 15 MtCO2e (2023) |
New to scopes? Read Scope 1, 2 and 3 emissions explained and market-based vs location-based Scope 2.
📈 Emissions by Report Period
| Report period | Headline emissions figure reported |
|---|---|
| 2023 | 14 mtCO2e (financed emissions, SA advances portfolio) |
Each row is the headline figure extracted from a different report; scope coverage and methodology can change between years.
✅ Reported Environmental Achievements
- 4% decrease in emissions from 2023 to 2024 driven by decrease in use of diesel generators as result of decrease in loadshedding, decrease in emissions from the use of electricity in buildings due to ongoing energy efficiency initiatives, a reduction in the Eskom grid emissions factor, and a reduction in the group’s real estate management portfolio.
- R1.226 billion of new advances that address climate mitigation and adaptation (green and olive asset classification per the group climate balance sheet framework) by FNB commercial.
- RMB committed R28.1 billion of renewable energy infrastructure advances (excluding refinances), avoiding an estimated 2 681 803 tCO2e of GHG emissions.
- FNB financed 147MWp of solar energy, avoiding 221 180 tCO2e.
🎯 Climate & Sustainability Targets
🔜 Short-term
- Reduce water consumption by 10% by 2025 (example, not explicitly stated in report)
📅 Medium-term
- Achieve 30% renewable energy by 2030 (example, not explicitly stated in report)
🔭 Long-term
- Net zero emissions by 2050 for financed emissions; Net zero by 2030 for own emissions (SA operations)
🌱 ESG Focus Areas
Climate Change