Standard Bank's response
"Standard Bank response"
All projects in which Standard Bank is involved as an advisor or funder are subject to screening against various policies including our Group Environmental & Social Risk Policy, Group Human Rights Statement, and our new Group Fossil Fuels Financing Policy. These policies require adherence to the Equator Principles and IFC Performance Standards. They also require that project owners take measures to safeguard the rights of affected communities.
Oil and natural gas remain important energy sources in Africa given the current energy poverty and Africa’s access to natural resources. The African continent’s production and consumption of natural gas is expected to increase into the future. SBG will continue to play a role in the financing of oil and gas investments in support of national governments’ energy and economic development strategies.