Standard Bank Funds Truworths’ First Green Loan Facility
Standard Bank Funds Truworths’ First Green Loan Facility. Standard Bank has provided a R350m green loan facility for Truworths, one of South Africa’s leading fashion retailers. Standard Bank acted as Sole Lender and Sustainability Coordinator for the green loan to Truworths that will ultimately finance the development of a new green-certified distribution centre located at King Air Industria, Cape Town.
This is the first sustainable finance facility for Truworths, aimed at supporting the company’s strategic growth objectives and commitment to contributing towards a more sustainable footprint. Truworths recognises the impact that its business has on the environment across the value chain and has committed to sustainable business practices and responsible environmental, social and governance (ESG) standards.
The loan is a key milestone in the company’s sustainability journey, allowing it to develop a world class distribution centre in Cape Town to enhance the efficiency of its operations and reduce its carbon footprint. The design, specification, procurement and construction of the centre will conform to internationally recognised IFC Edge certification standards, ensuring increased efficiency of energy, water usage and building materials.
Driving positive environmental and social impact is at the heart of Standard Bank’s ESG strategy, and working with Truworths on this exciting transaction presented the company with another opportunity to continue supporting its clients to achieve their sustainability goals. Truworths International Ltd is an investment holding and management company based in Cape Town, South Africa. Its main operating companies, Truworths Ltd and Office Holdings Ltd, are leading retailers of fashion clothing, footwear, homeware and related merchandise.
