Nedbank targets and commitments
At 31 December 2023 we had a purpose-led business baseline of R146bn in SDF that is aligned with SDGs 4, 6, 7, 8, 9, 10, 11, 12 and 15. This builds on the R108bn that we had in place in 2021 and the R123bn in 2022.We also strive to increase SDF exposures to more than 20% of the group’s total gross loans and advances by the end of 2025 (currently at 17%). This will be achieved through the support of more than R150bn in new SDF that is aligned with the SDGs by the end of 2025 (from our starting base in 2021).
We will continue to expand on our ambitions in this regard in a manner commensurate with the needs of our clients, the size of the strategic opportunities offered, and our desire to continue leveraging our competitive advantage in this area. Environmental and social commitments were included for the first time in the group’s long-term incentive scheme, including delivery on our Energy Policy and SDF. Remuneration amendments in 2023 include more granular targets relating to our Energy Policy, the disclosure of fossil-fuel related glidepaths in 2023 reporting, our 2025 SDF ambition and other specific social commitments.
