Standard Bank Joins Growthpoint Renewable Energy Programme
Standard Bank will reduce scope two emissions across 21 branches located in Growthpoint-owned malls and offices.
Updated on Nov. 3, 2026 in Commercial
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Standard Bank is participating in Growthpoint's renewable energy certificate programme, covering 21 branches in Gauteng, the Western Cape, KwaZulu-Natal, the Eastern Cape and North West. The initiative is designed to reduce the bank's scope two emissions.
Why it matters
Tenants cannot directly control the electricity supply they receive, and South Africa's national grid is largely powered by fossil fuels. Renewable energy certificates give tenants a way to account for cleaner electricity in their emissions reporting.
Growthpoint has generated 69,613 renewable energy certificates from 53 registered systems, of which 6,670 have been transferred to tenants so far. The extraction does not specify how many of these certificates are allocated to Standard Bank's 21 branches.
The players
Standard Bank
Standard Bank is one of South Africa's largest banking groups, and it also provides financing and investment facilities to Etana Energy.
Growthpoint
Growthpoint is a South African listed property company that owns the shopping malls and offices housing the participating branches.
Etana Energy
Etana Energy is an independent renewable energy company that holds a power purchase agreement with Growthpoint for renewable electricity.
The details
Growthpoint certifies renewable energy supplied to its properties through on-site solar PV and wheeling arrangements with independent power producers. Certificates are tracked on a blockchain-enabled platform under the I-REC standard, and renewable energy wheeling has been enabled at 43 Growthpoint properties.
Timeline
2028: Etana Energy power purchase agreement expected to be fully implemented, providing 195GWh of renewable electricity annually.
Market Landscape
The programme applies the I-REC standard to commercial property tenants, extending certificate tracking from generators to end users. It positions Growthpoint's commercial portfolio as a channel for tenant-level scope two decarbonisation in South Africa.
Tenants in Growthpoint properties may receive renewable energy certificates that support their own emissions reporting. The certificates do not change the physical electricity supply, which continues to come through the national grid.
The takeaway
Commercial tenants seeking to reduce scope two emissions can ask their landlords whether renewable energy certificates are available for their premises. Participation can support emissions reporting even where the grid supply itself remains largely fossil-fuel based.
Further reading
Explore more on Commercial real estate in South Africa.
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