News Flash
- A Stock Exchange News Service (SENS) release confirms that FirstRand Limited has published its Climate Change Policy and an updated Energy and Fossil Fuel Policy.
In the updated Energy and Fossil Fuel Policy, the group has taken the following decisions:
- The group will no longer finance new coal fired power stations and from 2026 will no longer provide direct
project finance to new coal mines. - The group will reduce the cap on its coal financing drawn advances from 2% to 1.5% of advances from 2026 onwards.
- The group will reduce the cap on its coal exposure further from 1.5% to 1% of total advances from 2030 onwards.
Related news: South Africa allocates 1500MW of new build coal capacity in its IRP
More related news: Coal Projects: The Smart Money is Jumping Ship
Author: Bryan Groenendaal
