FIRSTRAND BANK’S ROLE IN FINANCING THE PROPOSED THABAMETSI COAL-FIRED POWER PLANT

The Centre for Environmental Rights (CER), representing the Life After Coal Campaign, argues that financing the Thabametsi and Khanyisa coal-fired power plants is unjustifiable. The document asserts that these projects are not 'least-cost' options, face significant legal challenges regarding environmental and water licenses, and would cause severe health and climate damage. It specifically calls on FirstRand Bank to cease support for Thabametsi to avoid reputational risk and align with its own commitments to a lower-carbon economy.

• The 2018 draft Integrated Resource Plan (IRP) acknowledges that the 'least-cost' electricity option consists only of solar, wind, and gas, and contains no coal.
• Thabametsi and Khanyisa are not 'procured' as they lack necessary legal authorisations; Thabametsi lacks an atmospheric emission licence, a water use licence, and a NERSA generation licence.
• Thabametsi is located in the Waterberg-Bojanala Priority Area, where existing air pollution already causes severe health issues, including heart attacks, strokes, and respiratory infections.
• Thabametsi and Khanyisa are expected to have greenhouse gas emission intensities nearly 60% higher than the Medupi and Kusile power stations.
• Financing Thabametsi contradicts FirstRand Bank's stated commitment to help clients build climate resilient infrastructure and contribute to a lower-carbon society.

APA

Centre for Environmental Rights (2018). FIRSTRAND BANK’S ROLE IN FINANCING THE PROPOSED THABAMETSI COAL-FIRED POWER PLANT. https://cer.org.za/wp-content/uploads/2018/09/CER-letter-to-FirstRand-Bank_Coal-IPPs-and-draft-IRP_12-September-2018.pdf?x21779

Chicago

Centre for Environmental Rights. FIRSTRAND BANK’S ROLE IN FINANCING THE PROPOSED THABAMETSI COAL-FIRED POWER PLANT. 2018. https://cer.org.za/wp-content/uploads/2018/09/CER-letter-to-FirstRand-Bank_Coal-IPPs-and-draft-IRP_12-September-2018.pdf?x21779.

Wikipedia

{{cite press release |author=Centre for Environmental Rights |title=FIRSTRAND BANK’S ROLE IN FINANCING THE PROPOSED THABAMETSI COAL-FIRED POWER PLANT |date=12 September 2018 |url=https://cer.org.za/wp-content/uploads/2018/09/CER-letter-to-FirstRand-Bank_Coal-IPPs-and-draft-IRP_12-September-2018.pdf?x21779 |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@misc{centreforenvironmentalrights2018firstrand, author = {{Centre for Environmental Rights}}, title = {{FIRSTRAND BANK’S ROLE IN FINANCING THE PROPOSED THABAMETSI COAL-FIRED POWER PLANT}}, publisher = {Centre for Environmental Rights}, year = {2018}, month = sep, url = {https://cer.org.za/wp-content/uploads/2018/09/CER-letter-to-FirstRand-Bank_Coal-IPPs-and-draft-IRP_12-September-2018.pdf?x21779}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }