Facilitating pioneering Sustainable Finance transactions

13 DECEMBER 2021

The journey to Net Zero

Nigel Beck, RMB’s Head of Sustainable Finance and ESG Advisory, participated in the Financing an equitable accelerated climate transition panel discussion at the Carbon Trust Route to Net Zero: Africa event. He shared the innovative products and services that RMB is developing to partner businesses on the continent in their journey to Net Zero.

Beck also outlined how FirstRand Limited (“FirstRand”) has made a commitment to reach net zero by 2050, as recently published in its TCFD Report. The report outlines how the group, which includes RMB, is tackling climate change through climate commitments covering FirstRand’s own emissions and financed emissions. FirstRand’s long-term ambition to be net zero by 2050 includes all operational and financed emissions (i.e. scope 1, 2 and 3 emissions).

FirstRand has also committed to facilitate R200 billion in transition and sustainable finance over the next five years, which is an important enabler for the decarbonisation of the economy. As a key contributor to this commitment, RMB is actively integrating sustainability considerations into its financing solutions to proactively support climate action, accelerating the deployment of cleaner sources of energy and facilitating the transition to a low-carbon economy. As part of supporting an enabling environment for a just transition, RMB is also focusing on ensuring that projects also advance socio-economic inclusion and empowerment in Africa.

Sustainable finance encompasses a variety of solutions, and RMB tailors its offering to align to its clients’ journeys towards net zero/carbon neutral. This was demonstrated through the recently concluded Mediclinic sustainability-linked loan aligned to Mediclinic’s transition to carbon neutral and zero waste to landfill by 2030. Similarly, the green loan provided to Equites will fund the development of two high specification IFC Excellence in Design for Greater Efficiencies (EDGE) certified green buildings that ensure greater than 20% efficiency in energy, water and embodied energy in building materials.

Beck emphasised that as part of their transition, corporates should look to work with a long-term banking partner that has the strategy and capabilities aligned to their ambitions. With its expertise, leadership and track record in facilitating pioneering Sustainable Finance transactions on the African continent, RMB is the partner of choice for a journey to net zero.

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