Banks deny environment killer tag

2011-12-01 10:49

Durban - It would not be possible for developing countries, including South Africa, to immediately stop using coal-fired power generation, Standard Bank said on Thursday.

"Energy is critical and because of this it would not be possible for South Africa or any other developing country to immediately stop using coal-fired power generation,” the bank said in a statement.

It was responding to accusations it financed projects which harmed the environment. These included Eskom's Kusile coal-powered station, activists said.

A group of environmental activists on Wednesday named Standard Bank and Nedbank as "climate killers" among African banks.

Responding to the accusation, Standard Bank sustainability director Karin Ireton said the company intended financing a more sustainable future.

It had made available R12bn to lend to companies bidding for phase one of South Africa's programme to build independent, renewable energy generating capability.

The company had installed a hybrid solar water heating system linked to two heat pumps, and solar panels, at its Johannesburg head office, and helped provide 75 000 solar water heaters to poor households in Durban and Port Elizabeth.

Last year the bank completed transactions using the clean development mechanism that resulted in emission reductions of over 20 million tons of CO2 equivalent.

  • Breedlike - 2011-12-01 11:28

    I'm with the banks, these hippies are annoying!

  • calliedj - 2011-12-01 11:32

    Do these activists use cars? Do they use electricity? If so, they are hypocrites.

      malcolm.dale - 2011-12-01 12:22

      I have to smile - these "hippies" are annoying at the best of times despite their best intentions. But they seem to forget that the human and animal population also contribute seriously to the "gas emissions". I doubt that anyone of them have calculated with any degree of accuracy how much damage is done every time millions of people and animals fart simultaneously!! My stock answer is for them to revert to being cave dwellers - no electricity, no cars etc etc - eat raw meat, vegetables and drink unpasteurised milk and unpurified water and have a life expectancy of 35 if that!!!

  • Jerhone - 2011-12-01 12:15

    why don't your staff just put on tackies, that should stop global warming, another brilliant black inovation, if it works one day a month they should wear tackies everyday maybe that would speed up your stupid bank

  • TawwaTienie - 2011-12-01 12:23

    Just look at China, and their poor pollution situation there. There is no lifestyle, while South Africa and Africa are growing, quicker than you thought, the following the same route and will end up like these people. Kyk gerus na China as voorbeeld, Suid-Afrika en Afrika volg dieselfde pad betreffende besoedeling. Ons is nie ver van hulle af nie. Ons mens "lewe te gemaklik" maar more is ons spyt, en spyt kom altyd te laat, dan is dit gedane sake.

      Breedlike - 2011-12-01 13:23

      It is because China is overcrowded, we need to control population growth.

  • Chum Scrubber - 2011-12-01 15:00

    My biggest problem with Standard is they send me a graph of my balance through the month. What a waste of paper! I've tried to get them to stop, they are so beurocratic it seems impossible.

  • halicon76 - 2011-12-01 16:35

    It is not often i write a comment to a news article. This comment is two fold. For the arrogant myopic people who have chosen to dismiss this as hippy talk. What are you going to tell your grand children when they are having to kill or be killed for food? To the banks. Of course you are going to deny the fact that you invest in dirty energy instead of investing in clean alternatives. You will invest in dirty energy because it makes you a quick buck today. The problem with the mentality of both sets of these people is this. They have sold tomorrow for a better today.

      En - 2011-12-01 17:20

      "What are you going to tell your grand children when they are having to kill or be killed for food?"....are you being serious? This is exactly the attitude that tree huggers have. Blow things out of proportion. You aren't going to reach anywhere near 5/6/7 % economic growth (which will benefit YOUR grand children)just on wind and solar power. It's a fact, get over it. Unless you want the world to immediately convert from coal to renewables. The engineering effort itself would take years, and be chaotic. Bringing this "eat each other" state on sooner.

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