Standard Bank has decided to not table proposed climate change risk resolutions for voting by shareholders at its annual general meeting (AGM) in May, following pressure from nonprofit shareholder activism organisations Just Share and Raith Foundation to do so.
Just Share executive director Tracey Davies believes the bank’s climate change resolutions acknowledges the material financial risks posed by climate change and says the bank has improved its disclosure and management of those risks, but that there are still significant gaps in the disclosure.