Standard Bank issues inaugural green bond

Joshua Oriola

Standard Bank of South Africa Limited (“SBSA”) has issued its first ever green bond, via private placement with IFC, a development finance institution focused on the private sector, part of the World Bank Group.

It is a 10-year facility with the express purposes of raising capital for use in on-lending by Standard Bank Group’s (SBG) Sustainable Finance Business Unit and achieving longer tenor financing.

The USD200 million, London Stock Exchange-listed green bond is Africa’s largest green bond and South Africa’s first offshore green bond issuance. The capital raised as a result will be used to finance eligible green assets (renewable energy, energy efficiency, water efficiency and green buildings) aligned to SBG’s Sustainable Bond Framework. The IFC’s Performance Standards, which are part of the IFC’s Sustainability Framework, have become globally recognized as a benchmark for environmental and social risk management in the private sector.

Sim Tshabalala, Standard Bank Group Chief Executive, says, “This bond issue reflects SBG’s strategic focus on sustainable finance in line with our Social, Economic and Environmental (“SEE”) value drivers and vision to drive Africa’s growth with minimal adverse impact. Our strategy aims to embed social, economic and environmental considerations into our borrowing, lending and business practices in a way that helps us to continue supporting our clients, whilst producing value for society at large.”

According to Nigel Beck, Executive Head Sustainable Finance for SBG, “When it comes to financing, clients should be considering green, social and sustainable products as investors increasingly shift their mandates to sustainable businesses. Standard Bank is at the forefront in Africa with an innovative and dedicated sustainable finance business offering that benefits clients, communities, the environment and the corporate governance landscape.”

“The bond showcases the role that capital markets can play in mobilizing climate-smart finance and we hope it will inspire more companies in South Africa to unlock investment for climate-related projects,” says Kevin Njiraini, IFC Regional Director for Southern Africa and Nigeria.

9 thoughts on “Standard Bank issues inaugural green bond

  • April 21, 2021 at 5:31 pm

    682222 545512Aw, this was an exceptionally nice post. In concept I would like to location in writing such as this moreover – spending time and actual effort to create a superb article but so what can I say I procrastinate alot through no indicates find a method to go completed. 109895

  • April 27, 2021 at 11:34 pm

    499713 918693Thanks for taking the time to discuss this subject. I really appreciate it. Ill stick a link of this entry in my weblog. 549283

  • May 20, 2021 at 8:21 am

    136943 830349For anybody who is interested in enviromentally friendly points, may well possibly surprise for you the crooks to maintain in mind that and earn under a holder basically because kind dissolved acquire various liters to critical oil to make. everyday deal livingsocial discount baltimore washington 528059

  • June 24, 2021 at 6:56 pm

    620022 437558They call it the self-censor, basically because you are too self-conscious of your writing, too judgmental. 664117

  • June 30, 2021 at 11:57 pm

    There is definately a lot to find out about this issue.

    I like all of the points you have made.

Leave a Reply

Your email address will not be published.

%d bloggers like this: