Absa Bank (Mauritius) Limited (ABML) reaffirmed its leadership in sustainable finance by hosting an exclusive event focused on sustainable finance. The initiative is part of ABML’s broader strategy to empower businesses in their transition to greener operations, aligning with national and global climate objectives.
Held at Le Méridien Hotel on 6th February, the event brought together key industry leaders, including ABML’s Corporate and Investment Banking (CIB) clients, senior representatives from Proparco, the Governor of the Bank of Mauritius, Punki Modise, Group Chief Strategy and Sustainability Officer at Absa Group, and key leaders of the private sector.
During the event, ABML introduced a new sustainable trade finance facility aimed at supporting businesses in adopting environmentally responsible practices. This initiative aligns with Mauritius’ Nationally Determined Contributions (NDCs) to cut greenhouse gas emissions by 40% and achieve 60% renewable energy in its energy mix by 2030.
Discussions also covered emerging trends in sustainable finance, with a focus on taxonomy frameworks and the evolving regulatory landscape required to support sustainable finance in Mauritius and across the region.
Punki Modise, Group Chief Strategy and Sustainability Officer at Absa Group, highlighted:
“Absa’s sustainability story begins with its purpose: Empowering Africa tomorrow, together… one story at a time. The launch of our new Sustainable Trade Finance product is a testament to this commitment. Our sustainability strategy is built around three core pillars, which are climate action, financial inclusion, and diversity and inclusion.
Sustainable finance remains a key channel to mobilise climate action for us, with a strong focus on ensuring a just transition. As part of its effort to increase our green finance efforts, Absa committed to delivering R100 billion in sustainable finance by the end of 2025. We are proud to share that we achieved this target by the end of October 2024. This clearly demonstrates that our commitment translates into concrete actions.”
Absa Bank (Mauritius) Limited (registered number C10068913) is regulated by the Bank of Mauritius and the Financial Services Commission.
Ravin Dajee, Managing Director of Absa Bank Mauritius Limited, stated:
“Sustainability is an integral element of our strategy and central to how we do business at Absa. Through this new sustainable trade finance facility, we are taking a proactive step in supporting our clients’ transition to more sustainable operations while contributing to national and global climate goals. Our aim is to empower businesses to grow responsibly, ensuring long-term environmental and economic resilience.”
ABML remains committed to sustainable finance, leveraging key strategic partnerships to drive impact.
A Thought Leadership Platform on Sustainable Finance Taxonomy
As part of the event, ABML facilitated an in-depth discussion on sustainable finance taxonomies, highlighting the importance of implementing a taxonomy that brings clarity and consistency in alignment with global best practices and sustainability reporting frameworks. Experts shared insights on emerging themes, regulatory developments, and the evolving expectations of global investors.
The panel featured insights from Steven Gardon, Regional Director for Southern Africa and the Indian Ocean at Proparco, and Punki Modise, Group Chief Strategy and Sustainability Officer at Absa Group, enriching the conversation with both regional and international perspectives. The discussion underscored the need for a tailored taxonomy framework that reflects the realities of each respective country, ensuring relevance and practicality in its implementation.
With sustainability at the core of its strategy, ABML continues to innovate financial solutions that support businesses in navigating the complexities of ESG integration. The bank remains dedicated to fostering an inclusive transition, ensuring that all stakeholders benefit from a greener economic landscape.
