SOUTH Africa’s FirstRand will end funding for new coal-fired power stations and coal mines and has lowered the cap on its coal exposure as part of moves to reach net-zero emissions by 2050, it said on Wednesday.
It will no longer fund new coal-powered power stations and will stop all funding for new coal mines from 2026, it said in an updated coal policy, making it one of only two big South African lenders to close the door on funding for such activities altogether.
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