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Supplied Investors want Standard Bank to provide a report detailing its climate change strategy to shareholders for the year ending 31 December 2021. They argue that as a significant lender on the continent, Standard Bank's activities in Africa will influence whether or not the Paris goals are met. Concern is raised that none of the bank's disclosures provide any strategy or measurable targets which include timelines on how the it will align its financing with commitment to the Paris Agreement. Asset managers with interests in Standard Bank and shareholder activist group, Just Share, have tak...

Image: Waldo Swiegers/Bloomberg Standard Bank, Africa’s biggest bank by assets, has been asked by a group of fund managers to include a resolution on climate-change targets at its May 27 annual general meeting. Abax Investments, Aeon Investment Management and Visio Capital Management Ltd. are seeking a non-binding resolution that would push the lender to set short, medium and long-term goals to reduce its exposure to fossil fuels, Just Share, a shareholder-activist group that’s working with the fund managers, said in a statement on Wednesday. Standard Bank is yet to respond, they s...

Pension fund managers, have to balance ESG with member interests With issues like climate change, inequality and ethical business becoming increasingly important, shareholder activists the world over are holding companies and their funders to account. However, for pension funds, being responsible when investing is a delicate balancing act. For Just Share's executive director, Tracey Davies, pension schemes and their managers have a big role to play in investing their clients' money responsibly, but beneficiaries can also do their bit by asking questions about where their m...

BACK TO THE HOME PAGE Karpowerships Dodgy Procurement Process Leaves Many Questions Unanswered 29 April 2021 - The procurement of Karpowership services as “emergency” power will lock the country into gas for the next 20 years, increasing electricity tariffs and move us away from the presidential commitment to a just transition and low carbon economy. On 31 March groundWork submitted Environmental Impact Assessment Report comments for the proposed gas combustion Karpowerships application in all three ports, namely Richards Bay, Saldhanha Bay and the Port of Ngqura. Community ...

The Los Angeles Times on how Biden agenda makes up for decades of federal neglect: Three times already in his brief tenure, President Biden has rolled out a far-reaching and extraordinarily expensive proposal to address large-scale problems in this country. First there was a $1.9-trillion plan to help individuals and businesses cope with the surging COVID-19 pandemic. Then there was a $2-trillion blueprint to build and repair American infrastructure, defined in unusually broad terms. Now comes a $1.8-trillion boost to programs that help American families, particularly those with low and moder...