Bank targets zero carbon emissions by 2030
As part of its on-going attempts to reduce its carbon footprint, earlier this month Standard Chartered Bank Botswana officially launched a solar installation at its Main Mall branch in Gaborone.
The move is in-line with the bank’s ambition to have all Standard Chartered buildings carbon free by 2030.
As well as being environmentally friendly, cutting down on roughly 10.4 tonnes of carbon dioxide annually, the solar system comes with a number of added benefits. Every year, this single source of solar power is expected to generate around 172, 800 kWh of electricity, offset P162, 744 of imported energy from the national grid and even export 17, 280 kWh of clean energy back to the national grid.
According to Standard Chartered Botswana CEO, Mpho Masupe, the solar project has been operational since January and has a return in investment of four years.
“It gives us pleasure to know that we are leading not just in conversations around sustainability, but in the implementation of our own energy transition. We at Standard Chartered have challenged ourselves to leverage innovation and technology to transform the way we go about our business and how that translates into how we deliver our products and services to our clients,” noted Masupe.
For his part, Minister of Mineral Resources, Green Technology and Energy Resources, Lefhoko Moagi commended Standard Chartered for its efforts.
“Due to the mandate of my Ministry, and for Botswana, to witness a very real initiative that is both reducing the strain on our power grid and contributing excess power back into the grid is amongst the highest actions of corporate citizenship. What you are doing is answering the call that our government continues to send out, for the private sector to stand up and support the ambitions of Government as we strive to lift Botswana and Batswana to new levels,” praised Moagi.
The solar push comes hot on the heels of other green initiatives spearheaded by Standard Chartered. This includes introducing the Express Banking Centre, which serves as a new 24-hour distribution model, offering clients the freedom to transact as and when they please.
The Lobatse Express Banking Centre is a fully solar-powered centre similar to the one in Main Mall, and has utilized recycled material (including a shipping container) to house it.
