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Shareholder activist group slams 'contradictory' Standard Bank policy on fossil fuel funding

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Coal Power Plant
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Just Share has criticised Standard Bank’s policy on fossil fuels financing, as calls for the global reduction of greenhouse gas emissions increase, saying that the plan does not include any ambitious fuel financing exclusions and is in contradiction with the Paris Agreement.

The shareholder activist group and the bank have been at loggerheads about its continued funding of fossil fuel projects. Earlier this year, together with 14 climate justice NGOs, it called for shareholders to vote against the election of five Standard Bank board members, due to their involvement in companies with fossil fuel interests. Just Share's calls echo an increasing global focus to reduce carbon emissions and the need to move away from fossil fuels.

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