Standard Bank taps Growthpoint renewable certificates to cut emissions at 21 branches
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The bank has joined the property group's renewable energy certificate programme, covering branches in Growthpoint-owned shopping centres and offices across five provinces.
Standard Bank has joined Growthpoint Properties' renewable energy certificate (REC) programme to reduce Scope 2 emissions at 21 branches in five provinces, extending its efforts to cut the carbon footprint of its branch network.
The branches are located in Growthpoint-owned shopping centres and office properties in Gauteng, the Western Cape, KwaZulu-Natal, the Eastern Cape and North West, and the certificates allow the bank to account for renewable electricity supplied to leased premises where tenants have limited control over their energy source.
Keith Cassie, head of sustainability and resilience at Standard Bank Group Real Estate Services, said the bank had already introduced LED lighting, energy-efficient equipment, optimised operational controls and smart meters, and had obtained Net Zero Carbon (Measured) certification from the Green Building Council of South Africa for four branches — the first such certificates issued to bank branches in the country.
“For these certifications, the allocation of renewable energy was pivotal with energy efficiency standards compliance having been confirmed, and this created latitude for further collaboration between landlords and tenants with shared environmental goals,” Cassie said.
Growthpoint's programme certifies renewable electricity generated through its rooftop solar photovoltaic installations and renewable energy wheeling arrangements with independent power producers. The independently verified certificates are made available to tenants as an auditable record of renewable energy use.
Werner van Antwerpen, Growthpoint Properties' head of corporate advisory, said certified emission reductions were increasingly important for businesses in leased premises. Since registering its first renewable energy system for certificates in September 2024, the group has generated 69,613 verified RECs, redeemed 50,345 in support of its portfolio decarbonisation strategy, including Net Zero Carbon certification of 13 properties, and transferred a further 6,670 certificates to tenants.
Marius Meyer, Growthpoint's head of energy, said the group has 53 renewable energy systems registered for certificates, including generation from the Boston Hydroelectric Plant, of which 50 are active certificate-generating projects and 13 more are undergoing registry onboarding.