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Banks failing to address severe human rights impacts transparently, finds BankTrack research
Findings reinforce the need for regulators to ensure access to effective remedy for people affected by bank finance
Standard BankSouth Africa
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This profile is actively maintainedCreated before Nov 2016
Last update: 2021-03-15 00:00:00
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Standard Bank's head office in Johannesburg. Photo: PHParsons via Wikimedia (CC BY SA 3.0)About Standard Bank
Standard Bank is a South African-based financial services group with a global presence focused on emerging markets. It operates in 30 countries around the world, including 17 in Africa. The bank was formed in 1962 as a South African subsidiary of the British overseas bank Standard Bank, under the name Standard Bank of South Africa. Standard Bank Group is the largest African bank by assets and earnings.
| Website | http://www.standardbank.co.za/ |
| Headquarters |
9th Floor - 5 Simmonds St.
2001 Johannesburg
South Africa
|
| CEO/chair |
Sim Tshabalala Group CEO, Executive Director |
| Supervisor | |
| Annual reports |
Annual report 2020 CSR report 2019 |
| Ownership |
listed on JSE Limited
|
| Complaints and grievances |
Standard Bank does not operate a complaints channel for individuals and communities that may be adversely affected by its finance. |
Related Dodgy Deals
Standard Bank has been linked to the following "Dodgy Deals", e.g. as a current or past financier or through an expression of interest. Find out more about dodgy deals here. See the project or company profile for more details on the nature of the bank's link to the Dodgy Deal.
Dodgy Deals map
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On record profiles
Policy Assessments
Banks and human rights
Human Rights Benchmark November 2019
BankLast update
Country
Score
Ranking
Details
Standard Bank
ZAF
4.5
Follower
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Explanation
Laggard
Follower
Front runner
Leader
0 - 3.5 points
4 - 5.5 points
6 - 8.5 points
9 - 14 points
For more details see this page.
Human Rights Benchmark Africa 2021
BankLast update
Country
Score
Ranking
Details
Standard Bank
ZAF
4.5
Follower
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Explanation
Laggard
Follower
Front runner
Leader
0 - 3.5 points
4 - 5.5 points
6 - 8.5 points
9 - 14 points
For more details see this page.
Tracking the Equator Principles
EPFIs reporting status
BankLast update
Country
Reporting period
PF deals under EP
Project names reported
% Project names reported
Details
Standard Bank
2020-12-22
ZAF
2019
1
1
100
1.01000000002E+38
0
Explanation
Project name reporting status of Equator Principles signatories for each financial institutions' most recent reporting period. Where there is no percentage presented the EPFI has not reported having financed any project transactions in that reporting period.
For more details see this page.
Response Tracking
This page evaluates Standard Bank's responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".
Impacts reviewed
Responded?
Total score
Response
Action
Monitoring
Base Toliara mineral sands mining project
n/a
Response
n/a
Rationale for score
The bank did not respond.
Following the bank's response: The bank responded stating that it is not involved in financing of the project, therefore it has not been included in the scoring.
Action
Out of 1
Rationale for score
No information available on whether the bank engaged with its client or took appropriate action.
Following the bank's response: The bank responded stating that it is not involved in financing of the project, therefore it has not been included in the scoring.
Monitoring
n/a
Rationale for score
The impact was not raised over a year ago and therefore is not scored on monitoring progress. East African Crude Oil Pipeline
1
0.5
0.5
n/a
Response
0.5
Out of 1
Rationale for score
The bank responded publicly acknowledging its link to the impacts, but did not address the issues raised. The bank stated that the information provided in the open letter is "given attention and due consideration during...screening processes".
Following the bank's response: The score remains unchanged.
Action
0.5
Out of 1Rationale for score
The bank stated that the project will be reviewed by an independent consultant in line with the Equator Principles and the IFC Performance Standards. The bank did not detail any specific actions sought from the company to address human rights violations.
Following the bank's response: The score remains unchanged.
Monitoring
n/a
Rationale for score
The impact was not raised over a year ago and therefore is not scored on monitoring progress. Average
100%
0.5
0.25
0.25
0
News
Documents
Type:
Year:
Links
Policies
Voluntary standards
Standard Bank has committed itself to the following voluntary standards:Investment policies
Standard Bank's webpage on corporate social responsibility can be accessed here.
Year:
Equator Principles
Implementation and reporting
Standard Bank is reporting on the implementation here.
