Banks worldwide funded over $150 billion worth of high emission projects called “carbon bombs” last year. As part of an investigation into fossil fuel extraction projects, The Guardian found 425 potential carbon bomb projects with links to bank financing. These bank activities sit in stark contrast to the net-zero pledges and ESG targets that many banks have committed to in the public arena. Environmentalists have raised concern that reports and disclosures made by banks do not align with the reality of their business models. Between 2016 and 2022, banks from the US, China and Europe collectively provided $1.8 trillion worth of financing to coal, oil and gas related companies – during a period of time when financed emission reporting and emission targets were gaining prevalence in the financial industry. However, banks argue that they continue to support energy security and a responsible energy transition through their financing deals. With net-zero deadlines often set for 2030 or 2050, only time will tell whether the finance and energy industries make real progress to avoid severe climate impacts. #CarbonBomb #ESG #ClimateImpact
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Recently, several of our team members celebrated their 5-year anniversaries at Monocle. In keeping with a longstanding company tradition, our CEO, David Buckham, presented each of them with a luxury timepiece, alongside a special dinner to celebrate their achievements. We are incredibly proud of their outstanding contributions and dedication, and are excited to continue working together to achieve new milestones! Aimée Joy Robinson Arthi Moodley Amukelani Aubrey Baloi Guy Wilding, FRM Tian du Plessis #ServiceAward #Celebration #MonocleCulture
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Following the recent release of the South African Reserve Bank’s Payment Study Report, Tim Masela, Head of the National Payment System at the SARB, joined Michael Avery to discuss their role in promoting financial inclusion in SA. Tim offered valuable insights into the key components for modernising South Africa's payment ecosystem, the advancements made thus far, and the obstacles that remain. He also highlighted the importance of consumer education and building trust in creating a more digitally inclusive financial landscape, as well as the role of cryptocurrencies in the digital payment space. Click here to listen to the full podcast: Apple Podcasts: https://apple.co/3OpT4LE Spotify: https://spoti.fi/3w0uhaN YouTube Podcasts: https://bit.ly/4bAlDi6 #FinancialInclusion #SAPaymentSystem #SARB
Ep 39: Payments as a Pathway to Financial Inclusion in SA – Tim Masela
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BCBS 239 compliance and improved data quality has become a significant priority for both the European and United Kingdom banking industries. The challenge of implementation and compliance is tougher than ever with expanded scopes and renewed pressure from regulators. However, the benefits of compliance can be significant. Listen to our latest episode of the Monocle insights podcast with two of Monocle’s Directors, Catherine Horne CA (SA) and Rheta du Preez. They draw on their years of experience implementing BCBS 239 at several clients to share what banks need to do in order to achieve BCBS 239 compliance both quickly and effectively. Click here to listen to the full podcast: Apple: https://apple.co/4dYRU4D Spotify: https://spoti.fi/3XmeQUb YouTube: https://bit.ly/47jIVZb #BCBS239Compliance #DataQuality Guy Wilding, FRM
The Continual Challenges (and Opportunities) of BCBS 239 Compliance
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The Monocle Analyst Graduate Programme has shaped the journey of many lives at Monocle, with many participants having now reached leadership positions. One such example is the dynamic Vincenta Monsengo, who has been able to make the most of the opportunities Monocle has offered her and, as a result, was recently promoted to a principal consultant. Shape your success with the Monocle Analyst Graduate Programme, apply here https://bit.ly/45izZ5g. Applications close soon! #MonocleAnalystGraduateProgramme #ConsultingCareer #GraduateOpportunities
Shape your success with the Monocle Analyst Graduate Programme
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What can other global success stories tell us about how Africa could unlock its potential? Join Michael Avery for an insightful exploration of the 2023 Africa Export Competitiveness Report with Dr. Amit Kapoor, the Research Lead and Honorary Chairman of the Institute for Competitiveness in India, and Tiekie Barnard, CEO and Founder of Shift Impact Africa. Discover where Africa's future economic growth lies, the immense potential it holds, and the steps necessary to overcome challenges and achieve sustainable development. Click here to listen to the full podcast: Apple Podcasts: https://apple.co/3OpT4LE Spotify: https://spoti.fi/3w0uhaN YouTube Podcasts: https://bit.ly/4bAlDi6 #AfCFTAInitiative #AECReport #SustainableGrowth
Ep 38: How to Unlock the Immense Potential of Africa - Dr. Amit Kapoor & Tiekie Barnard
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The inaugural Monocle University Consulting Competition has concluded, and it was inspiring to see the calibre of young talent in South Africa. The competition was stiff, with over 150 students registering from universities across South Africa. The teams were tasked with presenting recommendations for a South African bank based off learnings from the Credit Suisse failure in 2023. A huge congratulations to team Visionary Ventures from the University of Pretoria , Titi Hlungwani, Muhammad Irfaan Seedat and Gani Banda, on winning the competition. Your research, presentation, and recommendations were of an exceptional standard, and you are well deserving of this accolade and the prize money. A special mention to Dan Tshimanga, Lusanda Shongwe and Simphile Mkhize from University of the Witwatersrand as well as Unathi Mbanjwa, Nolwazi Mahlangu and Boipelo Madumo from UP on coming runners-up. We wish you all the best for the rest of your studies and hope you all apply for the Monocle Analyst Graduate Programme. #Winning #Consulting Wits Consulting Club, University of Pretoria Consulting Society
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Don't just follow an ordinary career path, shape your own with Monocle. The Monocle Analyst Graduate Programme offers comprehensive training, guidance, and exposure to help you craft a successful career in consulting. Applications are closing soon. Click here to embark on your professional journey and apply now: https://bit.ly/45izZ5g #MonocleAnalystGraduateProgramme #ConsultingCareer #GraduateOpportunities
Shape Your Journey: The Monocle Analyst Graduate Programme
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Mergers and Acquisitions in South Africa are experiencing positive momentum, fuelled by a newfound optimism within the country. To unpack this, Michael Avery was joined by Ruven Naidoo, Head of M&A, and Marc Ackermann, Head of Corporate Finance and Co-Head of SA Investment Banking at Investec. They discussed how recent local political and economic developments - from loadshedding and the formation of the GNU government to potential interest rate cuts and the resilient rand - are shaping deal-making trends, and what to expect for the rest of this year and into 2025. Moreover, Ruven and Marc shared valuable insights into the most active sectors for M&A, potential opportunities for South African companies looking to expand beyond our borders, and practical advice on what M&A truly involves and how to navigate the process successfully. Click here to listen to the full podcast: Apple Podcasts: https://apple.co/3OpT4LE Spotify: https://spoti.fi/3w0uhaN YouTube Podcasts: https://bit.ly/4bAlDi6 #MergersandAcquisitions #SAEconomicLandscape #SAPoliticalLandscape
Ep 37: A Brighter Outlook for M&A in South Africa - Ruven Naidoo & Marc Ackermann
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BCBS 239 compliance related to Governance as well as Data Architecture and IT infrastructure form the foundation to implementing the rest of the principles related to effective risk data aggregation and risk reporting. However, based on the survey results of the world’s 31 Global Systemically Important Banks (G-SIBs), full compliance to these principles may only arrive in the next 18 years – over 25 years since its release back in 2013. With European and UK regulators eager to reach industry compliance in the short-term, banks will need to refine their implementation programmes, bolster management involvement and embed effective data management and governance to reap long-term compliance benefits. Click the link to read how Monocle can assist banks in reaching full BCBS 239 compliance as well as secure the reliability of their regulatory reporting: https://bit.ly/3XJ5m7r #BCBS #Compliance #Banking #Regulation #RiskReporting
BCBS 239 Compliance
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One of the most rewarding aspects of the Monocle Foundation is hearing first-hand from beneficiaries about the impact it has on their lives. Thapelo is just one of the many recipients of support from the Monocle Foundation, which has allowed her to live out her dream of helping other people by becoming a qualified doctor. If you are a Black female in need of financial support for your tertiary education, please click here to find out more: https://bit.ly/3tggpaU #Foundation #Bursary #Empowerment #Upliftment #Inspiring
The Monocle Foundation
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