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Standard BankSouth Africa
Active
This profile is actively maintained
Last update: 2023-03-09 13:31:29
Headquarters of Standard Bank. Photo: "Standard Bank Building, Church Square Pretoria" by Paul Saad is marked with CC BY-NC-ND 2.0
Active
This profile is actively maintained
Last update: 2023-03-09 13:31:29
About
| 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 | |
| Ownership |
listed on JSE Limited
|
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.
Sustainability
Commitments
Policies
Voluntary standards
Standard Bank's most important sustainability commitments can be found at the website sections listed below.
Links
Standard Bank has committed itself to the following voluntary standards:
Dodgy Deals
Standard Bank is linked to a number of companies and projects that BankTrack considers controversial (so called Dodgy Deals), e.g. as a current or past financier or through an expression of interest. The profiles below provide more details on the nature of Standard Bank's link to these deals.
Projects / Companies
Finance type
Year
Campaigns
Banks and Climate
Reclaim Finance tracks the coal, oil and gas policies of financial institutions, including banks, in the Coal Policy Tracker and Oil and Gas Policy Tool. Find further details on their assessment of Standard Bank's fossil fuel policy below.
Banks and Human Rights
BankTrack assessed Standard Bank in its 2021 Human Rights Benchmark Africa, where it achieved 4.5 points out of 14 and was ranked as a 'follower'. More information is detailed in the "Accountability" section of this profile.
Human Rights Benchmark Africa 2021
BankLast update
Country
Score
Ranking
Details
Standard Bank
ZAF
4.5
Follower
0
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.
News
BankTrack
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External
Resources
Documents
Videos
Links
EACOP: a crude reality, documentary
Accountability
Grievances
Response
tracking
Standard Bank does not operate a complaints or grievances channel for individuals and communities that may be adversely affected by its finance.
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 (Oct 2020)
n/a
Response
n/a
Rationale for score
The bank did not respond.
Following publication: 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 publication: 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
No information available on there the bank monitored the impacts or the actions of its clients East African Crude Oil Pipeline (March 2021)
1
0.5
0.5
0
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 1
Rationale 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
0
Out of 1
Rationale for score
No information available on whether the bank monitored measures taken by its client to address the impacts associated with the project. Average
100%
0.5
0.25
0.25
0
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