10 Apr 2022

Standard Chartered Bank has been commended for heeding government’s call by investing on rooftop solar generated power.

Speaking at the Standard Chartered Mall branch green energy launch in Gaborone on Thursday, Minister of Mineral Resources, Green Technology and Energy Security, Mr Lefhoko Moagi said government continued to call upon the private sector to support government’s ambitions to lift Botswana and Batswana to new levels.

Mr Moagi said the bank’s rooftop solar generated power fell under his ministry’s mandate of introducing safe power generation source to reduce the strain on the convectional power grid.

He explained that the Mall Branch green energy was the second initiative that the bank had embarked on after launching their solar-powered express banking centre in Lobatse last year.

On global warming, he said it was upon every government to reduce carbon emission because the global warming pressures were not new to any country around the world.

“The reality is that we live in an ecosystem and where there is a push in one direction, there is a reaction in another.

Rising sea levels in low lying areas may in turn mean intense droughts, water scarcity, catastrophic storms and declining biodiversity in other areas, all of which sound a lot more familiar to our context here in Botswana,” he said.

For her part, the British High Commissioner to Botswana, Ms Sian Price said the energy sector represented 68 per cent of Botswana’s Green House Gas Emissions and under the Paris Agreement, Botswana committed to reducing its CO2 by 15 per cent by 2030.

“That target was set almost six years ago and I understand you are already almost half way there.

But with the initiatives set out in Botswana’s Integrated Resource Plan and under Vision 2036, I know you cannot only meet those targets, but significantly exceed them and I am looking forward to seeing even more ambitious National Determined Contributions from Botswana at COP 27,” she said.

She commended Standard Chartered Bank for the great strides it was taking to future-proof its businesses energy needs, demonstrate responsible consumption and make a valuable contribution to reducing climate-damaging greenhouse gasses and for setting an example of the positive impact everyone could and should be making for the sake of the planet and generations to come.

In his welcoming remarks, the chief executive officer of Standard Chartered Bank, Mr Mpho Masupe said the solar system that had been installed would generate an estimated 172 800 kWh of electricity per year, offset P162 744 per year of imported energy from the national grid.

It would also displace 10.4 tonnes of carbon dioxide per year and export 17 280 kWh of clean energy back to the national grid and have a return on investment of four years, he said.

“This is our own contribution to greening our environment, and we will continue to ensure that we lead the conversation in this regard.

Our sustainability team is working hard to ensure that even as we do business, we do it in a responsible and sustainable manner,” he said. ENDS