Absa has hit back at shareholder activist group for its scathing analysis of the bank's fossil fuel strategies, which branded Absa's response to the climate change crisis as inconsistent with climate science & blasted its funding of coal & oil projects.
Absa has hit back at shareholder activist group Just Share for its scathing analysis of the bank's fossil fuel strategies, which branded Absa's response to the climate change crisis as inconsistent with climate science and blasted its funding of coal, oil and gas projects.
But Absa says it is a leading financier of renewable energy in South Africa, with its renewable energy loans outweighing those of fossil fuels. Just Share on Tuesday released an analysis of Absa's Coal Financing Standard and Oil and Gas Financing Standard – which were released in May – as well as the bank's Task Force on Climate-related Financial Disclosures 2021 report which unpacks it commitments in tackling climate change. Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.
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