Activists targeting some Standard Bank board members over fossil fuel links

Some Standard Bank board members are, according to climate activists, conflicted about climate change-related matters.

Just Share, an NGO specialising in shareholder activism, is targeting seven members of the Standard Bank board over their links to fossil fuels.

The NGO and other climate justice NGOs are urging the bank’s shareholders to vote against their re-election at the bank’s AGM 26 June.

The Money Show asked Sim Tshabalala, Chief Executive, if his institution has any need for concern.

We've been listening to our stakeholders as we do to all stakeholders ranging from shareholders, government, regulators, customers and our staff...

Sim Tshabalala, Chief Executive - Standard Bank SA

Standard Bank's own track record on climate change speaks for itself - 86 % of our group's total underwriting of energy transactions since 2012 was to green energy...

Sim Tshabalala, Chief Executive - Standard Bank SA

We've just issued our report to society as well as our environmental social and government report...we're a firm that fundamentally believes in environmental and social impact...

Sim Tshabalala, Chief Executive - Standard Bank

We take seriously article four of the Paris agreement...the principles of conflict of interest and the way they get managed are nicely set out and we are quite comfortable that our institution complies with those principles...

Sim Tshabalala, Chief Executive - Standard Bank

All our directors show all the attributes that one would require of a good member globally and in SA, and the evidence of our conduct speaks volumes about our commitment to social and environmental issues.

Sim Tshabalala, Chief Executive - Standard Bank

Listen to the full interview below.

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