banner

Screen Shot 2017-05-04 at 11.04.02 AM
575 Views

Nedbank releases 2016 Sustainability Review


Nedbank’s 2016 Sustainability Review highlights how it contributes to the sustainable development agenda of the South Africa, with a focus on products and services, partnerships and operations.

Says Brigitte Burnett, head of sustainability for Nedbank Group: “In our experience, our sustainability effectiveness is maximised through an approach that combines a commitment to sustainable products and services, managing our own impact, and partnering with like-minded organisations and initiatives.

“The information contained in our 2016 Sustainability Review demonstrates the value that is unlocked through this approach. While we certainly aren’t there yet, it is a journey and this report shows good progress in how we have delivered positive societal impacts for our country and our clients.”

Transforming SA

At a products and services level, Burnett points to the more than R64bn worth of empowerment financing Nedbank has provided since 2009 as evidence of the bank’s dedication to transforming SA industries and businesses.

In some cases, these beneficiaries have started and grown their own businesses, while others have used it for transformational infrastructure projects – both helping to grow the economy and create jobs.

The bank also established a Green Savings Bond, which allows retail and institutional investors to not only grow their money, but also contribute to sustainable development projects like renewable energy.

Since its inception, more than R17bn has been invested into the product.

“As part of our Fair Share 2030 strategic enabler, Nedbank has also placed itself at the forefront of efforts to address the growing student accommodation crisis in South Africa,” says Burnett. “The R2.3bn we have invested in support of this vital housing sector has resulted in more than 5,000 more student beds being made available.”

Response to #FeesMustFall

The 2016 Sustainability Review offers evidence of Nedbank’s commitment to positive education outcomes and how the bank has responded to the Fees Must Fall campaign.

Burnett points specifically to Nedbank’s partnership with the Nedbank Mogale Empowerment Trust, which invested R100m in the MTN Zakhele Futhi scheme – the dividends received will be used to benefit black students across the country as well as black supplier development.

The review also discloses detail on investments aimed at socioeconomic upliftment and support. For example, the bank’s main CSI arm, the Nedbank Foundation, has invested R141m into a range of social projects across its key focus areas of education, health and social development.

The bank also provided more than R100m in drought support over the past financial year, including working capital for its agriculture clients and donations towards boreholes, animal feed and bottled water.

Reducing its carbon footprint

Closer to home, Nedbank remains committed to managing the sustainability impacts of its own operations and staff. Since 2010, Nedbank has been carbon neutral and, in 2016, it further reduced its overall direct carbon footprint by more than 6%.

Across the group, the bank remains focused on good water stewardship and continued its water usage minimisation trend by reducing water consumption across its operations by a further 1.1% in 2016.

The full 2016 Nedbank Sustainability Review is available for download at www.nedbank.co.za. It is a supplementary report to the Nedbank Group Integrated Report.

Source: bizcommunity

Recently Published

Screen Shot 2017-08-17 at 8.56.14 AM
»

Cape Town Tourism will continue to build on the city’s tourism success

Cape Town Tourism’s service level agreement (SLA) has been ...

Screen Shot 2017-08-16 at 3.00.37 PM
»

Mining can be green and “sustainable”

Miners, First Nations feed fodder to government policy ...

Water and Mining - [https://www.miningreview.com/magazine_articles/water-and-power-efficiency/]
»

Water and power efficiency walk hand in hand

South African mining companies can manage water usage as part of a ...

Airport Craft Brewers barman Oscar Sentane prepares to serve one of Marali's blonde lagers at the O.R. Tambo airport in Johannesburg, South Africa.
»

Lift Off for Africa’s First Airport Brewery

There is a new addition to Africa’s busiest air transport hub, O.R. ...

agri
»

African Agri Investment Indaba

600+ GLOBAL LEADERS, 40+ EXPERT SPEAKERS 100+ KEY INVESTORS, 50+ ...

saeec1
»

12th Southern African Energy Efficiency Conference (2017SAEEC)

12th Southern African Energy Efficiency Conference (2017SAEEC) 14 ...

Screen Shot 2017-08-16 at 9.55.19 AM
»

Africa feeding Africa

While North America’s farmers pin their career hopes on the need to ...

Screen Shot 2017-08-16 at 9.40.05 AM
»

Get ready for climate impacts beyond your imagination

It’s time to start imagining the worst weather scenarios possible, ...

Screen Shot 2017-08-16 at 9.30.01 AM
»

15 African youth finalists in entrepreneurship prize

Fifteen emerging young African entrepreneurs will put their talent to ...