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# Standard Bank Group Raises Sustainable Finance Target to R450 Billion by 2028, Nearly Doubling Prior Goal
- URL: https://www.theglobalbanker.com/standard-bank-group-raises-sustainable-finance-target-r450-billion-2028/
- Published: 2025-04-01T08:00:00.000Z
- Updated: 2026-10-02T13:56:03.000Z
- Description: Standard Bank has raised its sustainable finance mobilisation target to R450 billion by 2028, up from R250 billion, having already deployed R177 billion since setting the original goal in 2022.
- Author: TGB Editorial Team
- Tags: ESG, Africa, #archive

Standard Bank Group has raised its sustainable finance mobilisation target to R450 billion by 2028, nearly doubling a R250 billion goal it set when it launched its green finance strategy in 2022, the South African lender announced on 1 April 2025.

The bank said it has already financed R177 billion in sustainable activities since 2022, a total that includes R50.6 billion deployed in 2023 and R74.3 billion in 2024\. The bank said the higher target reflects both the pace of deployment achieved to date and the strength of underlying demand.

#### RENEWABLE ENERGY FINANCE

By 2024, the bank said, its financing of renewable energy projects was running at nearly six times (5.96x) the level of non-renewable power generation financing.

Alongside clean energy, the bank's sustainable finance portfolio encompasses green buildings, sustainable agriculture, water and sanitation infrastructure, and blue finance.

#### FOSSIL FUEL LIMITS

Standard Bank's existing policies exclude financing for new coal-fired power plants and new thermal coal mines; alongside the new target it also set limits on upstream oil and gas exposure of less than 30% of its energy portfolio and less than 3% of total loans and advances.