Standard Bank to Raise $20 Billion to Fund Green Projects (2)

Standard Bank Group Ltd., Africa’s biggest lender by assets, plans to raise as much as 300 billion rand ($20 billion) by 2026 to help fund renewable energy projects, even as it remains open to supporting fossil fuels.

The Johannesburg-based lender pledged to achieve a net zero carbon emissions target in its own operations by 2040 and from its portfolio of financed emissions by 2050, in line with the Paris Agreement, the company said in a statement on Wednesday outlining its climate goals.

Banks across the world are slowly adjusting their business models after decades spent enabling some of the ...