Africa’s largest bank leads climate change initiative

Africa’s largest multinational companies are following the global trend that is in vogue – that of making ambitious goals and undertakings to reduce carbon emissions ahead of this month’s climate change conference to be held in Glasgow, Scotland. Leading the pack is Africa’s largest lender by assets, the Standard Bank Group, which in October held a 2-day climate summit that was streamed online and ran under the theme ‘Africa’s Journey to Net Zero’. The summit was hosted in partnership with the Institute of International Finance (IIF) a global financial think tank which partners with financial services firms worldwide including the Standard Bank Group.   More specifically the Institute of International Finance is the global association of the financial industry, with over 400 members from more than 70 countries. Its mission is to support the financial industry in the prudent management of risks; to develop sound industry practices; and to advocate for regulatory, financial and economic policies that are in the broad interests of its members and foster global financial stability and sustainable economic growth. IIF members include commercial and investment banks, asset managers, insurance companies, sovereign wealth funds, hedge funds, central banks, and development banks.  The summit highlighted among a host of issues the importance of Africa taking