- Limited access to client emissions data.
- Increased Scope 1 emissions from diesel generators due to load shedding in South Africa.
- Increased exposure to upstream oil due to geopolitical events and market volatility.
- Challenges in measuring 'insured emissions'.
Standard Bank Group
Greenhouse gas emissions & sustainability report data
In its 2023 reporting, Standard Bank Group disclosed greenhouse gas emissions of 153.7K tCO2e/year. By scope: Scope 1: 12.1K tCO2e/year; Scope 2: 119.1K tCO2e/year; Scope 3: 16.0K tCO2e/year (operational). 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.
GHG Emissions
153.7K tCO2e/year
2023
Renewable Energy
1.4%
of total energy
Water Usage
248.3K kl/year
2023
Waste
613.2 tons/year
2023
Energy Use
178.9K MWh/year (non-renewable); 2595 MWh/year (renewable)
2023
📊 Emissions by Scope (2023)
| Scope | What it covers | Reported value |
|---|---|---|
| Scope 1 | Direct emissions from sources the company owns or controls (fuel combustion, company vehicles, process and fugitive emissions). | 12.1K tCO2e/year |
| Scope 2 | Indirect emissions from purchased electricity, steam, heat and cooling. | 119.1K tCO2e/year |
| Scope 3 | Other indirect emissions across the value chain (purchased goods, business travel, use of sold products, etc.). | 16.0K tCO2e/year (operational) |
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 | 153.7K tCO2e/year |
| 2020 | 186.2K tCO2e (South Africa) |
Each row is the headline figure extracted from a different report; scope coverage and methodology can change between years.
✅ Reported Environmental Achievements
- 4.6% reduction in emissions against a target of 4.2% for newly built facilities.
- Mobilised R33.6 billion for new renewable energy infrastructure (52% of target).
- Reduced finance to power sector clients generating power predominantly from coal.
- Provided finance to an African utility to retrofit existing turbines at a power plant, improving environmental performance.
🎯 Climate & Sustainability Targets
🔜 Short-term
- Mobilise >R250 billion sustainable finance by 2026.
- Reduce Scope 1 and 2 emissions by 4.2% per year in South Africa.
- Reduce exposure to thermal coal to 0.5% of group loans and advances by 2030.
- Reduce finance to upstream oil by 5% by 2030.
📅 Medium-term
- Net zero for existing facilities by 2040.
- Reduce finance to power sector clients generating power predominantly from coal to 0.12% by 2030.
- Disburse R7 billion in climate-smart agriculture finance by 2030.
🔭 Long-term
- Net zero across lending and investing activities by 2050.
🌱 ESG Focus Areas
Climate Change