Standard Bank

In terms of senior leadership accountability, the responsibility for sustainability issues within Standard Bank lies with the board. Furthermore, the bank publicly commits to gender equality and women’s empowerment and has at least 40% women in senior management. Standard Bank conducts environmental, social and governance (ESG) advisory services and monitoring with its clients while providing evidence of escalation points for sustainable investing and transactions. In terms of its approach towards impact management, Standard Bank recognises that its financing activities have both positive and negative impacts and has conducted an impact analysis aligned with the Principles for Responsible Banking (PRB). In addition, the bank discloses a list of trade associations of which it is a member and the positions it takes on sustainability themes.

Standard Bank has set a target of net-zero financed emissions by 2050. Furthermore, the bank discloses agriculture as one of its primary sectors to engage with on climate issues. Standard Bank discloses the amount devoted to green bonds, which are aligned with International Capital Market Association (ICMA) principles and guidelines. Furthermore, it discloses renewable energy targets within its broader 2026 monetary target on sustainable finance.

Standard Bank has a publicly available policy statement committing it to respect human rights, prohibit bribery and corruption, and protect data privacy. Furthermore, it has grievance mechanisms in a place accessible to all stakeholders to raise related complaints. In terms of inclusivity, the bank discloses the proportion of women in its total direct operations workforce for each employee category. Additionally, the financial institution discloses the amount of finance it directs towards small- and medium-sized enterprises (SMEs).

Standard Bank could link the remuneration of its executive or management teams to sustainability performance criteria. In terms of gender equality, women are underrepresented on the board of directors where only six out of seventeen board members are women. The bank also has an opportunity to demonstrate how it addresses any identified gender pay gap. Although Standard Bank discloses the results of its environmental and social (E&S) screening, it has the opportunity to publish how its ESG advisory services and monitoring are applied in practice for all its financing activities.

Standard Bank could disclose interim emissions reduction targets at the group level, such as a 45% reduction in financed emissions by 2030. In relation to climate topics, there is also no evidence that the Standard Bank discloses alignment with the Paris Agreement as one of its engagement priorities with clients. Standard Bank has an opportunity to improve its disclosure on climate solutions by showing progress against the targets it has set for its renewable energy solutions. Furthermore, the bank could commit to minimising the negative impacts it has on nature and biodiversity.

Although Standard Bank conducts an E&S screening tool for all lending activities which requires a human rights assessment and monitoring, it has an opportunity to describe a comprehensive process for identifying its human rights risks and impacts across all its financing activities. Furthermore, it discloses the ages of its total direct operations workforce but has an opportunity to disclose this information for each employee category. To provide transparency on financial inclusivity, the bank has an opportunity to disclose the amount of finance directed towards low-income developing countries.