Climate Change Data

Standard Bank Namibia Limited

Climate Impact & Sustainability Data (2019, 2021, 2022, 2023)

Reporting Period: 2019

Environmental Metrics

Total Carbon Emissions:229,880 tCO2e (SBSA)
Scope 1 Emissions:9,224 tCO2e (SBSA)
Scope 2 Emissions:197,771 tCO2e (SBSA)
Scope 3 Emissions:22,885 tCO2e (SBSA)
Renewable Energy Share:2.2% (SBSA)
Total Energy Consumption:215,146 MWh (SBSA)
Water Consumption:627,632 kl (SBSA)
Waste Generated:1,312,884.4 kg (SBSA) to landfill
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Climate Change
  • Diversity & Inclusion
  • Governance
  • Sustainable Finance
  • Human Rights
  • Financial Crime Prevention
  • Employee Wellbeing
  • Community Investment

Environmental Achievements

  • Reduced electricity consumption in South African operations by 8.3 GWh, exceeding the 8 GWh target.
  • Reduced water consumption in South African facilities by 15,760 kl.
  • Improved CDP score for water management from C to B-.
  • 86% of USD 2.77 billion in energy investments since 2012 was for renewable energy.

Social Achievements

  • Launched Last Mile program to support selected individuals in transitioning to CEO roles, with a focus on increasing female representation.
  • Invested R878 million in skills development (2.5% of staff costs).
  • Launched a Cybersecurity Academy, training 75 employees.
  • Financed 103 small-scale solar PV projects in South Africa (9.5MW).

Governance Achievements

  • Adopted a new ESG governance framework recognizing ESG as a separate risk type.
  • Increased representation of women on the Standard Bank Group board to 33% (from 22% in 2018).

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Reduce direct emissions by 79% by 2040 (South Africa operations).
Short-term Goals:
  • Reduce water usage by 110,000 kl (16%) at metered sites in South Africa by 2021.

Environmental Challenges

  • Data collection challenges in Africa Regions.
  • Inadequate local and regional climate science information, scarce portfolio-level climate data, and a lack of detailed climate-related risk information associated with clients.
  • Cybersecurity threats.
  • Skills shortages in cybersecurity.
Mitigation Strategies
  • Investing in improved metering and data capture and analysis systems.
  • Establishing a TCFD working group.
  • Participating in UNEP FI’s TCFD pilot program.
  • Creating a Cybersecurity Academy.
  • Investing in enhancing cyber resilience.
  • Implementing a continuous testing and monitoring strategy.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Supplier sustainability requirements
  • Respect for basic human rights
  • Clean and safe working environment

Climate-Related Risks & Opportunities

Physical Risks
  • Droughts
  • Extreme weather events
  • Hotter temperatures
Transition Risks
  • Job losses
  • Skills shortages
  • Technology risk
  • Policy and governance risks
Opportunities
  • Renewable energy projects
  • Green financing opportunities

Reporting Standards

Frameworks Used: UN Principles for Responsible Banking, Equator Principles, TCFD guidelines

Certifications: ISO 27001 (Africa shared core banking platform)

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Goal 7 (Affordable and clean energy)
  • Goal 13 (Climate action)

Initiatives in renewable energy, sustainable finance, and climate risk management contribute to these goals.

Sustainable Products & Innovation

  • VAF Solar Asset Solution
  • ECO 2 Fleet

Awards & Recognition

  • SA Graduate Employers Association, Employer of Choice award

Reporting Period: 2021

Environmental Metrics

Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Cybersecurity
  • Ethics and conduct
  • Employee health and wellbeing
  • Climate-related risk and disclosures
  • Balancing Africa's need for affordable energy with climate considerations and a just transition

Environmental Achievements

  • Launched a digital solution for automated real-time due diligence on third parties.
  • Financed five projects totaling R461,439,500 under the green bond framework, resulting in significant CO2 emission reductions and job creation.
  • Issued a R1.4 billion green bond to finance renewable energy assets.

Social Achievements

  • Implemented a new performance management digital solution.
  • Refreshed diversity and inclusion strategy.
  • Improved gender pay distribution and population group pay distribution in South Africa.
  • Launched a digital solution to improve complaints handling and customer experience.
  • Reduced complaints by 14% compared to 2020.
  • Implemented a sustainability support program for SMEs in Stanbic IBTC.
  • Assisted almost 4,000 employees with food hampers and baby products following social unrest.

Climate Goals & Targets

Long-term Goals:
  • Net zero carbon emissions from financed emissions by 2050, net zero across operations by 2040 (existing) and 2030 (new).
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • Wide range of stakeholders with different priorities.
  • High ESG risk rating for the sectors in which Standard Bank operates.
  • Criticism from environmental organizations for financing fossil fuel infrastructure projects.
  • Increase in cyber and information risk due to increased digital transactions.
  • Conduct breaches, although non-material.
  • Impact of Covid-19 pandemic on employee mental wellbeing.
Mitigation Strategies
  • Improved ESG skills on the board and through independent advisors.
  • ESG risk management integrated into enterprise risk management framework.
  • Development of group climate policy and targets.
  • Strengthening processes and controls in cybersecurity.
  • Refreshing code of ethics and conduct and associated governance structures.
  • Providing support and resources for employee wellbeing, including vaccination access and mental health initiatives.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Encouraging procurement from local suppliers
  • Minimising negative environmental and community impacts
  • Protecting worker health and safety
  • Third-party code of conduct based on group code of ethics

Climate-Related Risks & Opportunities

Physical Risks
  • Drought
  • Floods
  • Declining mean precipitation
  • Inundation of coastal zones
  • Lower crop yields
  • Loss of biodiversity
Transition Risks
  • Regulatory changes
  • Market shifts
Opportunities
  • Supporting Africa's transition to a lower-carbon economy
  • Partnering with clients on climate transitions
  • Improving access to reliable and sustainable energy sources

Reporting Standards

Frameworks Used: TCFD, UN Principles for Responsible Banking (PRB), Equator Principles, IFC Performance Standards, King IV

Certifications: Null

Third-party Assurance: PricewaterhouseCoopers Inc. (PwC) provided limited external assurance on selected performance data.

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Green bonds
  • Social bonds
  • Sustainable finance solutions

Awards & Recognition

  • Two awards from the Ombudsman for Banking Services

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:30 tCO2e/year (Kenya)
Water Consumption:404 kilolitres/year
Waste Generated:50 tons/year

ESG Focus Areas

  • Financial Inclusion
  • Job Creation and Enterprise Development
  • Sustainable Finance and Climate Change
  • Infrastructure
  • Trade & Investment
  • Education
  • Health

Environmental Achievements

  • Reduced paper use by an unspecified amount.
  • Recycled 99% of waste including e-waste by the end of 2023 (target).

Social Achievements

  • Launched D.A.D.A. program, training 25,000 women-led businesses.
  • 202 female employees participated in leadership training.
  • Implemented a feeding scheme providing 115,000+ meals to students.
  • Provided KShs 2.5 million to support children's education.
  • Conducted cancer screenings for 15,582 beneficiaries.

Governance Achievements

  • Updated code of ethics and conduct in 2022.
  • Implemented a new approach to conduct risk reporting.
  • Undertook an initial assessment to identify material risks and impacts.

Climate Goals & Targets

Long-term Goals:
  • Pathway to Net Zero BA accreditation or ISO 14001 certification by end 2026.
Medium-term Goals:
  • 50:50 gender parity in workforce and management.
  • 2% differently abled employees by 2023.
  • 30% procurement spend to marginalized groups by 2025.
  • 90% digital tool utilization by primary customers by 2024.
Short-term Goals:
  • Net Zero for new building facilities by 2035 and existing facilities by 2040.
  • All new facilities to be green certified from 2023.
  • Recycle 99% of waste by end 2023.
  • 50% reduction in paper use by 2025.
  • Lending to green projects to represent 10% of total book by December 2023.
  • 100% client screening for loans >KShs 500,000 by end 2024.
  • 100% assessment of all critical 3rd parties for ESG risks by December 2023.
  • Climate risk framework in place by August 2023.

Environmental Challenges

  • Increasing employee turnover.
  • Climate change risks (physical and transition).
  • Managing reputational risk.
  • Financial risks associated with ESG factors.
Mitigation Strategies
  • Refined employee onboarding process.
  • Developed a climate risk framework and policy.
  • Implemented rigorous screening processes for clients and suppliers.
  • Integrated ESG considerations into credit risk management.

Supply Chain Management

Supplier Audits: 100% assessment of all critical 3rd parties for ESG risks by December 2023 (target)

Responsible Procurement
  • Third-party code of conduct.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI, TCFD

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:29,403.02 tCO2e (2022: 30,327.18 tCO2e)
Water Consumption:12,143 kilolitres (2022: 11,002 kilolitres)
Waste Generated:12,143 kg (2022: 11,002 kg)

ESG Focus Areas

  • Climate Change
  • Financial Inclusion
  • Job Creation
  • Sustainable Finance
  • Infrastructure Development
  • Education
  • Health
  • Diversity & Inclusion
  • Governance
  • Human Rights

Environmental Achievements

  • Reduced carbon footprint through energy-saving measures in buildings, installation of smart meters, and a commitment to net-zero carbon emissions by 2040.
  • Issued debut Green Bond to finance renewable energy projects.
  • Windhoek head office is the most highly rated green building in Namibia.

Social Achievements

  • Launched 'Flexi-Funeral' insurance policy.
  • Hosted the second SMME Finance Symposium.
  • Donated N$806,000 to FAWENA and N$400,000 to Never Walk Alone charity.
  • Continued Buy-A-Brick initiative, building 21 houses in 2023.
  • Supported MycoHab project (now a separate entity) for sustainable housing.
  • Improved employee net promoter score by 6%.

Governance Achievements

  • Implemented robust risk management processes and frameworks for ESG risks.
  • 98% of employees completed mandatory compliance training on AML/CTF and anti-bribery and corruption.
  • Maintained conduct risk within risk appetite.

Climate Goals & Targets

Medium-term Goals:
  • Mobilise N$1.6 billion by 2026 for sustainable finance.
  • Achieve net zero carbon emissions from operations by 2040 and from financed emissions by 2050.
Short-term Goals:
  • Improve home loan market performance in 2024.

Environmental Challenges

  • Rising interest rates and increased food and fuel prices impacting consumer loan performance.
  • Static home loan market.
  • High levels of youth unemployment.
  • Bush encroachment impacting the biosphere and agricultural sector.
Mitigation Strategies
  • Relaxed specific lending criteria to assist customers.
  • Introduced new measures to improve home loan market performance.
  • Implemented various support mechanisms for SMMEs.
  • Supported initiatives for youth development and education.
  • Partnered with organizations to produce sustainable charcoal from invader bush.

Supply Chain Management

Responsible Procurement
  • Prioritising B-BEE third-party suppliers
  • Implementing capacity building programmes
  • Ensuring immediate payments to suppliers

Climate-Related Risks & Opportunities

Physical Risks
  • Water scarcity
Transition Risks
  • Regulatory changes in the energy sector
Opportunities
  • Growth in renewable energy sector

Reporting Standards

Frameworks Used: UN Sustainable Development Goals, Paris Agreement, African Union’s Agenda 2063, Namcode

UN Sustainable Development Goals

  • Goal 7 (Affordable and clean energy)
  • Goal 8 (Decent work and economic growth)
  • Goal 9 (Industry, innovation, and infrastructure)
  • Goal 10 (Reduced inequalities)
  • Goal 13 (Climate action)

Initiatives align with Namibia's NDP 6, Vision 2030, Harambee 2, and the UN SDGs.

Sustainable Products & Innovation

  • Flexi-Funeral insurance policy
  • PayPulse Informal Market offering
  • Insurance for solar plants

Awards & Recognition

  • EMEA awards for Best Bank and Best Investment Bank in Namibia
  • Golden Arrow awards
  • Diamond Arrow award
  • Bank of the Year Award from The Banker magazine