Our approach

The boundaries between environmental, social, and economic systems have become increasingly blurred, highlighting not only the need for institutions like Nedbank to acknowledge that they are an integral part of this nested and highly interdependent system, but also the need to develop strategies that consciously address the broader context in which we operate.

The recent World Economic Forum and the 2024 Global Risks Report highlights the need to address carbon emissions at a global scale, with the next decade predicted to be a period of momentous change that will stretch our adaptive capacity to the limit. At COP, the global community took decisive steps towards a more sustainable future.

This transition must be equitable and just, recognising the varying circumstances and unique challenges of each country. As a signatory to these outcomes, South Africa (SA) is not only in support of but also an active participant in this vital journey towards net zero by 2050. This ambitious path is marked by a near-term pivot away from fossil fuels, aligning with the global mandate to triple renewable energy capacity and double energy efficiency by 2030. It will be important to ensure that all government, private sector, and civil society actions are aligned in support of the Just Transition, underpinned by policy certainty and consistency to avoid unnecessary confusion and delayed progress towards achieving net-zero commitments and Just Transition pathways.

In SA, our reliance on fossil fuels presents a significant challenge as well as a profound opportunity. Our country’s commitments, in the broader African context, require both bespoke solutions and dedicated, collaborative efforts. Recognising that the shift away from fossil fuels must consider the socioeconomic fabric of our society, we are committed to doing our part in a Just Transition. This encompasses not only environmental imperatives and decarbonisation but also socioeconomic dimensions, including job creation, health, and meaningful financial inclusion and access that work to lift people out of poverty and instil hope. It is a transition that must be inclusive, striving to leave no member of our society behind. Of course, this transition is a complex process that involves rethinking and reshaping entire industries, livelihoods, and communities. In this era of transition, banks have a renewed mandate to be the effective engines of inclusive economic growth and stability.

As a bank that operates at the heart of Africa’s economy, Nedbank is cognisant of the role it must play. For us this means that our role must evolve beyond traditional banking and leverage our financial acumen and influence to drive sustainable development. To this end we are committed to being a force for good in our own right by working with our clients – many of whom are among SA’s largest organisations – towards more sustainable practices. This commitment is reinforced by our Energy Policy, which delineates our approach to financing energy projects, and by our recent Nature Position Statement, which underlines our pledge to safeguard biodiversity and nature.

Highlights