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STANDARD BANK GROUP LIMITED - Update on policy on lending to coal-fired power projects and coal mining operations

Release Date: 31/07/2019 11:30
Code(s): SBK     PDF:  
 
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Update on policy on lending to coal-fired power projects and coal mining operations

Standard Bank Group Limited
Registration No. 1969/017128/06
Incorporated in the Republic of South Africa
JSE and A2X share code: SBK
ISIN: ZAE000109815
NSX share code: SNB
(“Standard Bank Group” or “the Group”)

Standard Bank Group Annual General Meeting Resolution Number 10.2:
Adopt and disclose a policy on lending to coal-fired power projects
and coal mining operations

At the Annual General Meeting (“AGM”) of the Group held on Thursday,
30 May 2019, shareholders voted in favour of resolution 10.2 “Adopt
and disclose a policy on lending to coal-fired power projects and
coal mining operations” as stated in the notice of the Annual General
Meeting.

In the drafting and implementation of such policies, an orderly
approach to transition risks is critical to ensure that regional
economic development continues whilst supporting existing customers
in the communities in which we operate.


Policy on lending to coal-fired power projects
Standard Bank Group adopted a groupwide policy on lending to
coal-fired power projects (coal-fired power finance policy). This
policy has now been published in line with the AGM resolution and
can be found at:
https://sustainability.standardbank.com/documents/pdf/SBG_Coal_Fired_Power_Finance_Policy-FN-20190729.pdf


Policy on lending to coal mining operations
Standard Bank Group is in the process of developing a policy on
lending to coal mining operations. Once it has been through the
appropriate   oversight   and governance processes,  a  further
announcement will be made and the approved policy will be made
available on the website.

Johannesburg
31 July 2019

Lead sponsor
The Standard Bank of South Africa Limited

Independent Sponsor
JP Morgan Equities South Africa Proprietary Limited

Namibian sponsor
Simonis Storm Securities (Proprietary) Limited

Date: 31/07/2019 11:30:00
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