Nedbank, Growthpoint forge new path for decarbonisation

Tenant-landlord collaboration

- By Tebogo Magoba

In a decisive move for South Africa's green-property sector, Nedbank Group and Growthpoint Properties have announced a partnership to decarbonise 26 Nedbank branches across five provinces.

The initiative marks a breakthrough in tenant-landlord collaboration, using renewable-energy certificates (RECs) to offset electricity-related emissions of leased premises.

The 26 branches span over 8200m² of space within Growthpoint-owned shopping centres and office parks.

Through this agreement, Growthpoint will supply Nedbank with RECs generated from its extensive renewable energy portfolio. The certificates represent verified units of green electricity produced from solar, hydro, and wind projects connected to the national grid.