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Absa GroupSouth Africa
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Created before Nov 2016
Last update: 2022-04-05 11:21:12

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Absa Group head offices. Photo: Courtesy of Absa Group

About Absa Group

Absa Group Limited was formed through a series of mergers and acquisitions over more than 100 years, starting in 1888, to form one of Africa’s largest diversified financial services groups.  Products and services span retail, business, corporate, investment and wealth banking as well as in investment management and insurance. Absa Bank Limited in South Africa is its principal banking subsidiary alongside majority stakes in banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, Tanzania (Absa Bank and National Bank of Commerce), Uganda and Zambia. The Group also has offices in the Namibia, Nigeria, the United Kingdom and the United States of America as well as insurance operations in Botswana, Kenya, Mozambique, South Africa and Zambia.

Website https://www.absa.africa/absaafrica/
Headquarters
7th Floor, Absa Towers West 15 Troye Street
2000 Johannesburg
South Africa
CEO/chair Arrie Rautenbach
Group CEO
Supervisor
South African Reserve Bank
Annual report Annual report 2021
Ownership
listed on JSE Limited

Absa Group's shareholder structure can be accessed here.

Complaints and grievances

Absa Group does not operate a complaints or grievancec mechanism for individuals or communities that might have been affected by the bank's finance.

Related Dodgy Deals

Absa Group has been linked to the following "Dodgy Deals", e.g. as a current or past financier or through an expression of interest. Find out more about dodgy deals here. See the project or company profile for more details on the nature of the bank's link to the Dodgy Deal.

Dodgy Deals map

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Active profiles
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On record profiles

Policy Assessments

Tracking the Equator Principles

EPFIs reporting status

BankLast update
Country
Reporting period
PF deals under EP
Project names reported
% Project names reported
Details
Absa Bank Limited
2022-08-08
ZAF
2021
2
2
100
1.01000000003E+38
0
South Africa
Profile
Reporting period
2021
PF deals under EP
2
Project names reported
2
% Project names reported
100
20220808
Last update: 2022-08-08
Explanation

EP reporting page: https://equator-principles.com/reporting-absa-group-limited-2020/

Explanation

Project name reporting status of Equator Principles signatories for each financial institutions' most recent reporting period. Where there is no percentage presented the EPFI has not reported having financed any project transactions in that reporting period. 

For more details see this page.

Banks and Human Rights

Human Rights Benchmark Africa 2021

BankLast update
Country
Score
Ranking
Details
Absa Group
ZAF
2
Laggard

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0
South Africa
Score
Laggard
2
Explanation

Absa Group's human rights policies, processes and reporting were assessed as part of the Human Rights Benchmark Africa 2021. The bank is assessed as a Laggard, with a total score of 2 out of 14.

Policy: 1.5/3
Due dilligence: 0/5
Reporting: 0.5/3
Remedy: 0/3

Explanation
Laggard
Follower
Front runner
Leader
0 - 3.5 points
4 - 5.5 points
6 - 8.5 points
9 - 14 points
For more details see this page.

News

| |
Type:
Year:
blog
external news
our news

At least $132 billion in finance for fossil fuels is locking Africa out of a Just Transition, shows new report

African countries kept in fossil fuel stranglehold by Overseas money
2022-03-03 | BankTrack, 350.org Africa, AFIEGO, Africa Coal Network, Alerte Congolaise pour l’Environnement et les Droits de l’Homme (ACEDH), Alliance for Empowering Rural Communities (AERC), Centre for Alternative Development (CAD), Environment Governance Institute (EGI), Friends of the Earth Ghana, Friends of the Earth Mozambique, Friends of the Earth Togo, Innovation for the Development and Protection of the Environment (IDPE), Laudato Si, Lumière Synergie pour le Développement (LSD), Milieudefensie, Oil Change International, Save Okavango (SOUL), Solidarité pour la Réflexion et Appui au Développement Communautaire (SORADEC), Synergie de Jeunes pour le Développement et les Droits Humains (SJDDH), Women Environmental Programme Nigeria, WoMin, Zimbabwe Environmental Law Association (ZELA)
blog
external news
our news

South African banks opt out of EACOP financing

Four of South Africa’s five major banks have said they will not support the East African Crude Oil Pipeline (EACOP), in Uganda and Tanzania.
2022-02-08 | Energy Source
blog
external news
our news

Fifteen banks now steering clear of East African oil project, says Just Share

2022-02-08 | Mining Weekly
blog
external news
our news

Standard Bank isolated as other South African banks steer clear of Total’s EACOP oil pipeline

ABSA, FirstRand, Nedbank and Investec all confirm they will not finance EACOP
2022-02-08 | Africa | BankTrack, #StopEACOP, Just Share
blog
external news
our news

Equator Banks involved in financing at least 200 fossil fuel projects since Paris

BankTrack research sheds new light on finance for fossil fuels by Equator banks
2021-10-26 | BankTrack
blog
external news
our news

Some SA banks committed to fossil fuel disinvestment — others aim to keep coal and oil financing furnaces burning

2021-10-04 | Daily Maverick
blog
external news
our news

African banks responsive on human rights but most lack basic policies, finds new benchmark

Nigeria’s Zenith leads after publishing previously unavailable policies; state-owned National Bank of Egypt comes in last place with no points
2021-03-29 | BankTrack
blog
external news
our news

New BankTrack Equator Principles reporting tracking tool launched

2020-09-21 | BankTrack
blog
external news
our news

Equator Principles requirements missing for most projects, finds new BankTrack study

Research into 37 projects financed 'under Equator' finds project-level grievance mechanisms or stakeholder engagement processes cannot be evidenced in 65% of cases
2020-08-11 | BankTrack
blog
external news
our news

Banks are turning a blind eye to Mozambique gas field graft

2020-06-23 | Business Live
blog
external news
our news

ABSA imposes strict new coal project financing criteria

2020-04-17 | Mining Weekly
blog
external news
our news

Covid-19 showing importance of early action in tackling global threats, says NPO

2020-04-08 | Engineeringnews.co.za
blog
external news
our news

Is your cash fuelling the climate crisis?

2019-11-25 | Mail & Guardian Online
blog
external news
our news

What Banking Officials Told South African Corruption Inquiry

2018-09-18 | Bloomberg
blog
external news
our news

Fake green hues in big banks’ environment-friendly boasts

2018-03-22 | BusinessDay
blog
external news
our news

Equator Principles goes beyond project finance, improves transparency

2012-08-13 | Environmental Finance
blog
external news
our news

While BankTrack criticizes Equator Principles, IFC celebrates Community of Learning

2011-10-25 | Washington | prizmablog.com
blog
external news
our news

Time to Improve the Equator Principles, BankTrack Says

2011-10-24 | Washington | Social Funds
blog
external news
our news

BankTrack to Equator Principles banks; ‘get the Outside Job done’

Equator Principles update must lead to new Principles focused on people and planet
2011-10-23 | Washington | BankTrack
blog
external news
our news

Financiers search for sustainable future

2011-10-20 | Washington | Environmental Finance
blog
external news
our news

New rules for Equator Principles, but no new commitments from banks

New governance rules represent missed chance for Equator Principles to take bold steps forward on transparency and accountability
2010-07-01 | Nijmegen, the Netherlands | BankTrack
blog
external news
our news

Equator Principles: Action, not words needed

BankTrack calls upon Citi, new chair of Equator Principles to take bold steps forward
2010-03-15 | Nijmegen, The Netherlands | BankTrack
blog
external news
our news

Civil society groups call for bold steps forward with Equator Principles

Major reforms needed on transparency, accountability, implementation and climate change
2010-01-14 | Nijmegen | BankTrack

Documents

Type:
Year:
our publications
2022-11-15 00:00:00

Who is financing fossil fuel expansion in Africa?

2022-11-15 00:00:00 | Urgewald, BankTrack, 350.org Africa, Africa Coal Network & Oilwatch Africa, et al.
csr policies
2022-05-31 00:00:00

Oil and Gas financing standard

2022-05-31 00:00:00 | ABSA Bank
annual reports
2022-04-05 00:00:00

Annual report 2021

2022-04-05 00:00:00 | Absa Group
annual reports
2021-04-08 00:00:00

Annual report 2020

2021-04-08 00:00:00 | Absa Group
annual reports
2021-04-08 00:00:00

CSR Report 2020

2021-04-08 00:00:00 | Absa Group
bank documents
2021-04-08 00:00:00

PRB report 2020

2021-04-08 00:00:00 | Absa Group
bank documents
2021-04-08 00:00:00

TCFD report 2020

2021-04-08 00:00:00 | Absa Group
csr policies
2020-06-12 00:00:00

Code of ethics

Date listed represents date as accessed on website
2020-06-12 00:00:00 | Absa Group
annual reports
2020-06-12 00:00:00

Annual report 2019

2020-06-12 00:00:00 | Absa Group
annual reports
2020-06-12 00:00:00

ESG report 2019

2020-06-12 00:00:00 | Absa Group
csr policies
2020-04-16 00:00:00

Coal financing standard

2020-04-16 00:00:00 | Absa Group
csr policies
2020-04-16 00:00:00

Sustainability policy

2020-04-16 00:00:00 | Absa Group
annual reports
2015-03-25 00:00:00

Barclays Africa Group Citizenship Report 2013

2015-03-25 00:00:00 | Barclays Africa Group Limited
annual reports
2015-03-03 00:00:00

Annual Report Financial Results 2014

Barclays Africa Group Limited
2015-03-03 00:00:00
annual reports
2014-01-01 00:00:00

Annual Report 2013

2014-01-01 00:00:00
annual reports
2013-03-27 00:00:00

Annual consolidated and separate financial statements

for the reporting period ended 31 December 2012
2013-03-27 00:00:00 | ABSA
bank documents
2011-12-13 00:00:00

B-BBee certificate

national Enpowerment Rating Agency
2011-12-13 00:00:00 | Sanas
correspondence
2010-12-18 00:00:00

Letter from BankTrack to EPFIs on issues around Equator Principles Review process

2010-12-18 00:00:00 | Banktrack
bank documents
2009-12-05 00:00:00

Absa money laundering control

2009-12-05 00:00:00 | Absa Bank

Policies

Voluntary standards

Absa Group has committed itself to the following voluntary standards:
  • Banking Association of South Africa’s (BASA) Principles on Environmental and Social Risk Management
  • Carbon Disclosure Project
  • Equator Principles
  • Global Reporting Initiative
  • Principles for Responsible Banking (PRB)
  • Principles for Responsible Investment (PRI)
  • Task Force on Climate-related Financial Disclosures (TCFD)

Investment policies

Absa Group's web page on corporate social responsibility can be accessed here.

Year:
csr policies
2022-05-31 00:00:00

Oil and Gas financing standard

2022-05-31 00:00:00 | ABSA Bank
csr policies
2020-06-12 00:00:00

Code of ethics

Date listed represents date as accessed on website
2020-06-12 00:00:00 | Absa Group
csr policies
2020-04-16 00:00:00

Coal financing standard

2020-04-16 00:00:00 | Absa Group
csr policies
2020-04-16 00:00:00

Sustainability policy

2020-04-16 00:00:00 | Absa Group

Equator Principles

Implementation and reporting

Absa Group is reporting on the implementation here.

Contact and complaints

Equator Principles Dodgy Deals

Projects

active

Mozambique LNG Mozambique

LNG Terminal | Oil and Gas Extraction | Pipeline Transportation of Natural Gas
on record

Thabametsi coal power plant South Africa

Coal Electric Power Generation

Good moves

Year:

2022

Standard Bank isolated as other South African banks steer clear of Total’s EACOP oil pipeline

On Tuesday 1st February, after years of delay, France’s Total and China’s CNOOC Ltd signed the Final Investment Decision (FID) to proceed with the East African Crude Oil Pipeline (EACOP) project. While heralded by the project proponents as a major breakthrough, the project is yet to secure all of the required…
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