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March 17, 2021
Nigel Beck Standard Bank
JSE-listed Netcare, which operates a network of hospitals and other healthcare services in South Africa and Lesotho, has launched Africaâs first sustainability-linked bond, in partnership with Standard Bank.Â
The coupon rate of these bonds is linked to the issuerâs achievement of certain pre-agreed sustainability performance targets. In Netcareâs case, the group aims to reduce its energy consumption, procure more renewable energy, reduce total carbon emissions, and further improve its water efficiency, partly by increasing its capacity to recycle grey water. In addition, Netcare is developing systems to ultimately convert all infectious healthcare risk waste (HCRW) produced on-site to inert products and achieve zero waste to landfill for waste, outside the HCRW stream, by 2030. Â