The Summit, which will be held in Johannesburg on 9 September, is one of the cornerstones of Standard Bank's sustainability strategy. This year's Summit will focus on climate adaptation and resilience under the theme of energy, infrastructure and resilience.
"We have all observed energy challenges and extreme climate events in recent years. This year we are building on the energy transition conversation that we started with the Climate Summit four years ago by bringing in a focus on resilience - both in energy and infrastructure needed to adapt to a changing climate," explains Luvuyo Masinda, Chief Executive of Corporate and Investment Banking at Standard Bank.
According to the World Meteorological Organization WMO "State of the Climate in Africa 2024" report, Africa is disproportionately affected by climate change and the associated high costs required to fund essential climate adaptation and build resilience. The same report highlights that costs associated with climate change can be as much as 5 of African Gross Domestic Product GDP and many are allocating up to 9 of their annual budgets to respond to climate extremes.