News Flash
- A Stock Exchange News Service (SENS)ย release confirms that FirstRand Limited ย has ย published its Climate Change Policy and an updated Energyย and Fossil Fuel Policy.
In the updatedย Energyย and Fossil Fuel Policy, the group has taken the following decisions:ย ย
- 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 fromย 2026 onwards.
- The group will reduce the cap on its coal exposure further from 1.5% to 1% of totalย advances from 2030 onwards.
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More related news: Coal Projects: The Smart Money is Jumping Ship
Author: Bryan Groenendaal