The environment

nedbank's approach to environmental management

Being a financial services organisation certainly does not excuse Nedbank Group from taking responsibility for looking after the environment. As South Africa’s ‘Green Bank’ we embrace the role we have to play in conserving our country’s natural beauty and protecting its diverse flora and fauna for future generations to enjoy. As such, our commitment to the environment extends far beyond legislative compliance and is an integral part of our strategy and a core focus area of our sustainability efforts. Caring for our country, and indeed our planet, is ingrained in our corporate culture and we consider it a privilege to have the finances and willing people to enable us to do so.The Group Transformation and Sustainability Committee, a committee of the Nedbank Board, is responsible for monitoring and refining environmental policies and ensuring that these are integrated into the Nedbank Group philosophy and practice. At an executive level, the Group Executive: Governance and Compliance assumes overall accountability for the management of environmental and sustainability issues.

OUR 2008 INTERNAL GREEN INITIATIVES

Some of the 2008 initiatives undertaken by Nedbank Group as part of its commitment to caring for the environment are listed below:

• Use of ‘green chemicals’ in our headoffice buildings: Following the completion of a successful pilot project, the use of green chemicals has been extended to the whole of Nedbank 135 Rivonia Road and is to be extended to the rest of our headoffice buildings during 2009.
• ‘Sorted: Reduce, Reuse and Recycle’: Recycling bins have been provided in all our headoffice buildings and will be placed in our retail branch network during early 2009. Four different bins are provided in our pause areas for biodegradable waste, plastic and polystyrene, glass and tin and mixed (plastic, paper and foil).
• Groupwide energy efficiency campaign – Power2U: The campaign called on staff to reduce their carbon footprint, both at work and at home. Employees were invited to exchange their old, energy-sapping light bulbs for energy-saving bulbs, free of charge, at our headoffices and branches.
• ‘Green Shop’: Nedbank teamed up with Wiphold, Old Mutual and Mutual & Federal to establish the Green Shop in Mnquma in the Eastern Cape. The building, which was built by the people of the district, with energy efficiency and environmental friendliness in mind, houses ‘branches’ of Nedbank, Old Mutual and Mutual & Federal. A cornerstone of the project is the provision of financial education to the community.
• SA Green Building Council Conference: Nedbank Property Finance sponsored the conference and is developing phase 2 of our headoffice building in accordance with the Green Star SA Rating.
• Deep Green Day: Nedbank staffmembers rolled up their sleeves and cleaned up the environment as individuals around their offices or as members of one of the Nedbank cleanup teams. Refer to section 7 for additional information.
• eStatements: Work began on an eStatement Project across card and transactional products for launch early in 2009.
• Recycling of printer cartridges: Nedbank has contracted a number of its vendors to ensure the recycling of print cartridges used within our businesses. In selecting the vendors for this purpose we considered the environmental and social criteria of the vendors in terms of our Supplier Code of Conduct and our Vendor Questionnaire. Good progress has been made in terms of the volume of recycled cartridges.
• Environmentally friendly paper towels: We have piloted the use of environmentally friendly paper towels in our bathroom areas and are investigating the use of other environmentally friendly products.

 

Greening the Nedbank Golf Challenge

As organisers and sponsors of the Nedbank Golf Challenge we recognised the impact that this event has on the environment. So in terms of our responsibility to protect our natural heritage and resources for the benefit of future generations, we committed to planning, conducting and managing this event in the most responsible manner possible. We undertook to do so through:

• encouraging our partners, business associates, players and visitors to support our efforts;
• selecting products and service providers that share our environmental vision;
• raising awareness of the impact of this event and of our efforts to address these responsibly;
• managing and, where possible, decreasing the amount of solid waste produced by and as a result of the event;
• reducing energy and water consumption during the event;
• minimising or offsetting harmful emissions resulting from transportation and energy consumption associated with the event;
• disposing of all solid and liquid waste in an environmentally responsible manner;
• eliminating the use of harmful chemicals at or for the event; and
• establishing an environmental legacy to commemorate our achievements in this regard.