Funding green transition is a major focus for Nedbank CIB

Helping corporate clients transition to a future low-carbon economy is a major focus for Nedbank Corporate & Investment Banking (Nedbank CIB). The bank was the first South African commercial bank to issue a Green Bond, in 2019, and it financed the first private sector energy wheeling arrangement in the country. Staying with energy, it already has a R50-billion commitment into South Africa’s Renewable Independent Power Producer Procurement Programme. “One of the key priorities for South Africa right now should be to decarbonise electricity generation,” highlights Nedbank Investment Banking Sustainable Finance Solutions Head Arvana Singh, speaking exclusively to Engineering News. “That has to change. The South African power sector is very coal intensive right now and it needs to switch to greener energy sources. Focusing on renewable power allows us and corporates in general to make a big impact in the near term.”