Our response
Delivering on our purpose through operations
Our business success is intertwined with the well-being of the communities in which we operate. To fully realise our development finance strategy, we need an enabling environment that starts with our people and our approach to key stakeholders.
We utilise tools such as our Sustainable Development Framework and Energy Policy to fulfil on our purpose and meet our commitments to sustainable development finance and supporting the transition to a net-zero economy, respectively. Our Sustainable Development Finance Framework is operationalised through a core business focus on sustainable development finance, supporting the transition, and financial inclusion.
These focus areas are enabled/supported by our approach to human capital, client responsibility, sustainable procurement, corporate social investment (CSI) and commitment to transformation.
Nedbank Sustainable Development Framework
Nedbank is a purpose-driven organisation that leverages its financial expertise to impact society positively. Our purpose guides our business strategy, behaviours, and short- and long-term actions. We are committed to reducing systemic risks to the environment and the people we serve while delivering significant and long-term societal value.
We use the Nedbank Sustainable Development Framework to focus our sustainable development efforts and identify business opportunities, risks, and cost savings. These opportunities and savings are significant. The Organisation for Economic Cooperation and Development (OECD) reports that Africa faces a significant sustainable financing gap, estimated at US$1,6tn through 2030. To achieve the United Nations Sustainable Development Goals (UN SDGs) by 2030, the continent needs an additional US$194bn annually. This gap accounts for 7% of Africa’s GDP and 34% of its total investments in 2021, which is less than 0,2% of global financial assets and 10,5% of African-held financial assets.
We prioritise 9 of the 17 SDGs, focusing on areas where we can make a meaningful impact through innovation in our banking products, lending, and investment practices. Our purpose fulfilment strategy is essential to our strategic value driver, creating positive impacts, driven through core business focus on SDF, sustainable finance, financing the transition, and financial inclusion.
