Standard Bank Group CEO Sim Tshabalala (Gallo Images/Business Day/Freddy Mavunda)
Standard Bank has wrapped up relevant governance processes and assessments related to its consideration of financing the East Africa Crude Oil pipeline, but its decision has not yet been made public.
The bank on Monday held its annual general meeting (AGM) where CEO Sim Tshabalala affirmed the bank’s commitments to supporting efforts to meet the 1.5°C global warming limit as referenced in the Paris Agreement.
“Our [climate] policy is based on keeping average global temperatures within 1.5°C,” Tshabalala said, adding that this is endorsed by the Intergovernmental Panel on Climate Change, the world’s foremost body on climate science.
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