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The Centre for Environmental Rights, on behalf of Fair Finance Southern Africa (FFSA), has requested information from Investec Group concerning a US$ 140 million loan provided by a syndicate of four banks to Karpowership. The letter highlights that Karpowership SA's proposed floating gas-to-power projects in Coega, Richards Bay, and Saldanha face significant opposition due to environmental impacts and the risk of prolonging fossil fuel reliance. FFSA argues that the projects would emit substantial methane, potentially totaling 80 to 142 million tonnes CO2e over 20 years, and may become stranded assets. The request asks Investec to clarify if the loan finances South African operations and how this aligns with its membership in the Net Zero Banking Alliance and its own net-zero carbon emission claims.

The Centre for Environmental Rights, on behalf of Fair Finance Southern Africa (FFSA), is questioning Türkiye İş Bankası A.Ş. (Isbank) about a US$ 140 million loan provided to Karpowership in March 2020. The letter argues that the Karpowership SA projects—consisting of three vessels with a total capacity of 1,220 MW in Coega, Richards Bay, and Saldanha—pose significant environmental and social risks. Specifically, it highlights the refusal of environmental authorisations by the Department of Forestry, Fisheries and the Environment (DFFE) due to "procedural irregularities" and the potential for the projects to emit "80 to 142 million tonnes CO2e of greenhouse gas" over 20 years. The authors contend that these projects prolong reliance on fossil fuels and may become "stranded assets" as renewable energy becomes cheaper. The letter asks Isbank to clarify if the loan was intended to finance these South African operations and how this aligns with its membership in the Net Zero Banking Alliance.

The document is a formal request for information sent to Standard Chartered Bank by the Centre for Environmental Rights on behalf of Fair Finance Southern Africa, seeking clarification on the bank's role in financing Karpowership SA's floating gas-to-power projects in South Africa.