Nedbank recognises that it has a responsibility not only to be good with money, but more importantly to do good with it. Our core purpose as a bank is therefore to use our financial expertise to do good for individuals, businesses and society across our country and our continent. By seeing money differently in this way, we are confident that we will achieve our vision to be Africa’s most admired financial services provider.' Mike Brown, Chief Executive: Nedbank Group.
Globally we are facing massive economic,social and environmental challenges. Following a year in which drought, heatwaves, wildfires and floods were commonplace, it is not suprising that environmental risks - such as extreme weather , biodiversity loss and ecosystem collapse, major natural disasters, man-made environmental disasters, and failure of climate change mitigation and adpatation - were ranked high in terms of likehood and impact in the latest World Economic Forum (WEF) Global Risk Report. It is , of course, the deep interconnectednees of these risks, with human wellbeing that sees them posing systematic challenges to citizens across the world.
Since formally launching Fair Share 2030 in 2015, Nedbank has been integrating sustainability across the full breadth of our business activities. Fair Share 2030 has enjoyed some success in guiding our product development and innovation by ensuring that we focus on identifying and capturing finance opportunities that carry high potential to deliver positive and deliberate economic, social and environmental impact.
This success was evidenced by the R5,3bn of lending undertaken from 2015 to 2017, which had provided much-needed student accommodation across the country and supported the rollout of additional embedded energy installations. It is acknowledged, however, that the amount was much less than the annual R6bn of lending that was targeted.
Moving into 2018 our approach is to focus on the most material SDGs and related targets to guide our sustainable development activities. To enable this shift a sustainable development baseline assessment was done that gives a comprehensive view of our business activities aligned with the SDGs. Using the baseline we then applied a rigorous proprietary methodology to analyse the SDGs and prioritise the most material targets for the bank. This work was then mapped to our Products and Services, Operations and Partnerships to create the Nedbank Sustainable Development Framework.
The Nedbank Sustainable Development Framework offers a clear roadmap for how Nedbank can contribute to the transformation of society within environmental constraints. Going forward we will be setting ambitious new targets for Sustainable Development Finance. This will ensure that we leverage the experience gained through Fair Share 2030 to innovate and capture winning positions in new markets and drive sustainable business growth and value for all stakeholders by contributing our fair share to support delivery on the SDGs.
In response to the clear need for deliberate and collaborative action that will promote sustainable global development, the United Nations Sustainable Development Goals (SDGs) were adopted by all participating countries in 2015. These define global priorities and aspirations for 2030 and offer a clear roadmap for the transformation of society within environmental constraints.
The SDGs represent an unprecedented road map for the transformation of society within environmental constraints. They set a common direction and ambition level for leaders with the objective of creating a thriving and more equitable society. The expectation is that business will make a significant contribution alongside governments and civil society to achieve the goals.
The SDGs also help to create a common platform for dialogue and cooperation between governments, business and other stakeholders.
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