Standard Bank's TASC partnership - a pioneering carbon credit deal that's transforming lives

When Standard Bank first conceptualised financing against future carbon-credit sales in 2023, we knew we were venturing into uncharted territory for an African bank.

- By Sasha Cook, Standard Bank Group Head of Sustainable Finance

What we didn't anticipate was how rapidly this approach would scale to become South Africa's largest carbon-credit project to date.

The numbers tell a compelling story of impact at scale. By mid-2025, The African Stove Company (TASC) had delivered cookstoves to more than 940 000 households in rural South Africa.

This further validates our conviction that working from a robust sustainability finance framework can transform pilot innovations into continent-wide initiatives that deliver measurable impact at unprecedented scale. As an African bank operating in 20 countries, we've deliberately set equal targets for green and social finance mobilisation to deliver environmental and social outcomes - a crucial consideration for African development, where these challenges are inextricably linked.

Understanding the unique African context is fundamental to our approach. Across our continent, according to an International Energy Agency report, approximately one billion people rely on wood or charcoal open fires for cooking. This presents both a massive development challenge and a significant opportunity. The TASC financing solution addresses this reality by creating sustainable revenue streams through carbon credit monetisation, offering communities cleaner cooking methods while also generating measurable environmental benefits.

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