Absa Group, Africa’s largest funder of renewables, announced today its long-term ambition to reach Net Zero state by 2050 for scope 1, 2, and 3 emissions.
Supporting a transition to a low-carbon economy is underpinned by the Group’s aspirations to be an active force for good in everything we do, prioritising business activities that have the most positive environmental, social, and economic impact, while mitigating negative impacts.
“While we recognise Africa’s particular vulnerability to climate change, our approach to Net Zero also takes cognisance of the development needs of Africa’s people,” said Punki Modise, Absa Group Chief Strategy and Sustainability Officer.
“Our Net Zero declaration underpins our belief in and support for a Just Transition. The transition to a resilient and sustainable economy must be inclusive and equitable for communities, investors, and industries and leave no one behind. We are committed to mobilising the resources necessary for supporting our clients’ energy transition, thereby reducing their carbon emissions and, ultimately, those of the countries in which we operate”, she said. Our commitment to entrench environmental, social and governance (ESG) principles throughout our business underpins this support, as we believe that ESG is vital for delivering real long-term value and our purpose of empowering Africa’s tomorrow, together …one story at a time.
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