Standard Bank signs climate change, financing of emissions information resolution

After extensive engagement with shareholder activism organisations Just Share and Aeon Investment Management, financial services firm Standard Bank has agreed to the wording of a shareholder-proposed nonbinding, advisory resolution that Standard Bank, over a three-year timeframe, provides shareholders with increasingly detailed information about its financed emissions from oil and gas. Financed emissions are the greenhouse-gas (GHG) emissions that banks and investors finance through their loans and investments. The resolution has been tabled for voting ahead of the bank’s May 31 annual general meeting (AGM).