Nedbank Group was named Africa's best bank for sustainable finance in Euromoney's Awards for Excellence 2025, with the award published on 18 July 2025.
Euromoney cited the Johannesburg-based lender's sustainable development finance exposure of R183 billion ($7.7 billion) in 2024, equivalent to 19% of its total gross loans and advances, up from 13% in 2021. Nedbank has set a target of raising that share to 20% by the end of 2025.
CARBON TARGETS AND FOSSIL FUEL EXIT
Nedbank was the first South African bank to publish carbon reduction targets for its financing activities, according to Euromoney. The bank plans to exit fossil fuel financing by 2045 and has committed to net zero by 2050. It has also adopted the IFRS S1 and S2 sustainability disclosure standards and the Partnership for Carbon Accounting Financials methodology for measuring financed emissions.
NEW INSTRUMENTS AND MARKETS
In November 2024 Nedbank issued a R2 billion sustainability tier 2 note linked to three key performance indicators: affordable housing for women, water infrastructure and climate-smart agriculture.
The bank also completed its first sustainable finance transaction in Côte d'Ivoire, a €18.5 million ($21.7 million) deal, and provided a R4.5 billion, 15-year loan for a water infrastructure project in South Africa. Its sustainable finance work is led by a dedicated sustainable finance solutions team embedded in its investment banking division.
The Euromoney award is separate from Global Finance magazine's Sustainable Finance Awards 2025, published in March 2025, in which Standard Bank Group was named Africa's best bank for sustainable finance as the regional overall winner.
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