Standard Bank Awarded Leading Sustainable Bank By African Banker Magazine
The parent company of Stanbic Bank Ghana, the Standard Bank Group, recently won recognition for being the leading bank in Sustainable Finance from the African Banker.
The African Banker Awards have entered their 18th year. They celebrate the achievements of individuals and institutions that have contributed significantly to growing and developing Africa’s financial services sector. This year’s nominees were selected from a record number of entries drawn from across the continent. Standard Bank beat five leading financial institution competitors to win the prestigious honour.
The Sustainability Award goes to an African bank which has demonstrated a sustainable agenda by creating environmental, social and financial value across its operations while deploying an impactful and holistic approach to ESG issues across the bank’s operations and respective geographies.
“We are incredibly proud of this accolade; it serves to demonstrably highlight the impact of the work we are doing in sustainable finance,” says Musah Abdallah, Acting Head for Corporate and Investment Banking, Ghana. Standard Bank has committed to achieving a net zero portfolio by 2050, has set climate targets in carbon-intensive sectors, and has pledged more than R250 billion to sustainable finance by the end of 2026.
Abdallah adds: “Client centricity is at the heart of our climate policy; partnering with our clients to mitigate emissions and build climate resilience and providing innovative and sustainable finance solutions that support their sustainability journeys.”
This year’s awards ceremony, held in Nairobi, saw a focus on development financial institutions, with widespread success, in both institutional and individual categories, and representing the increased growth they enjoy in the African financial ecosystem.