The environment

ENVIRONMENTAL MANAGEMENT

 

ENVIRONMENTAL POLICY

Nedbank Group’s environmental policy confirms our commitment to developing an environmental protection and conservation culture in our own operating environment and among all the parties with whom we have a business association. The policy is aimed at ensuring that the group’s business is conducted in a responsible, fair and honest manner and in keeping with government’s stated objectives in terms of environmental protection. The policy sets out the high-level principles of the Nedbank Board for environmental management across the group and forms part of our operating philosophy, policies, standards and values. Although the group cannot prescribe environmental management policies to its clients, it does encourage sound environmental management and compliance with legislation and regulations.

Nedbank remains committed to improving its environmental management on a continuing basis, recognising the need for conducting internal environmental reviews and reporting on progress made in achieving its targets in respect of the integration of environmental considerations into its operations.

CORPORATE RESPONSIBILITY FRAMEWORK

In 2008 the group focused on further embedding the principles contained in its environmental and corporate responsibility policies by including specific focus areas and deliverables in a Corporate Responsibility Framework. The framework is aligned to our Corporate Responsibility and Reputational Risk Policies and serves to guide business focus in terms of:

• responsible lending and financing;
• environmental initiatives; and
• social considerations.

The framework captures sustainability-related business opportunities and the various means by which we can continue to improve the management of our environmental, social and ethical risks. Progress in terms of the implementation of the framework is monitored on a monthly basis.

GROUP ENVIRONMENTAL FORUM

As part of the process of embedding the Corporate Responsibility Framework the group identified the need for central coordination of the various environmental initiatives across our business areas. To this end we formalised our Group Environmental Forum with the aim of:

• ensuring the effective coordination of environmental initiatives across the group;
• providing a platform for information sharing and capturing of synergies;
• ensuring consolidated group reporting;
• providing a single platform for consistent communication and marketing; and
• shaping the group’s strategy in terms of the management of our carbon footprint.

The forum is chaired by the Group Executive for Enterprise Governance and Compliance. The forum’s responsibilities also extend to the shaping of the group’s strategy in terms of managing our carbon footprint and reviewing our sustainability risk management processes and business developments.

The forum has already served to develop more effective environmental management systems and carbon management programmes across our headoffice buildings and is beginning to extend such systems and programmes to our Retail branch network. Nedbank Retail has established a Retail Environmental Forum to supplement and support the Group Environmental Forum initiatives.