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Last update: 2023-03-23 15:51:19

Active

This profile is actively maintained

Last update: 2023-03-23 15:51:19

About

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
Ownership	listed on JSE Limited Absa Group's shareholder structure can be accessed here.

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 financial institutions. Absa Group offers retail, business, corporate, investment and wealth banking services as well as investment management and insurance. Absa Bank Limited in South Africa is its principal banking subsidiary. The Group has 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 Namibia, Nigeria, the United Kingdom and the United States as well as insurance operations in Botswana, Kenya, Mozambique, South Africa and Zambia.

Sustainability

Commitments

Policies

Voluntary standards

Absa Group's most important sustainability commitments can be found at the website sections listed below.

Links

Environmental sustainability

Oil and Gas financing standard

Bank policy

2022-05-31 00:00:00 | ABSA Bank

Code of ethics

Date listed represents date as accessed on website

Bank policy

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

Coal financing standard

Bank policy

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

Sustainability policy

Bank policy

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

Absa Group has committed itself to the following voluntary standards:

Banking Association of South Africa’s (BASA) Principles on Environmental and Social Risk ManagementTags: corporate social responsibility | environment

Carbon Disclosure ProjectTags: carbon | climate change | greenhouse gas emissions

Equator PrinciplesTags: Equator Principles | project finance | corporate social responsibility | sustainable development

Global Reporting InitiativeTags: sustainable development | human rights

Principles for Responsible Investment (PRI)Tags: corporate social responsibility | sustainable development | United Nations

Task Force on Climate-related Financial Disclosures (TCFD)Tags: corporate social responsibility | finance

Dodgy Deals

Absa Group is linked to a number of companies and projects that BankTrack considers controversial (so called Dodgy Deals), e.g. as a current or past financier or through an expression of interest. The profiles below provide more details on the nature of Absa Group's link to these deals.

Projects / Companies

Finance type

Year

News

BankTrack

Partners

Blog

External

Blog

BankTrack news BankTrack blog Partner news Partner blog

How cool is your bank?

Just Share has published a new report: How cool is your bank? An analysis of how South Africa’s big five banks understand and manage climate risk

2023-11-20 | Just Share

Blog

BankTrack news BankTrack blog Partner news Partner blog

124 civil society organisations call on financial institutions to withdraw support for TotalEnergies’ Mozambique LNG project

2023-11-17 | BankTrack, and partners, Justiça Ambiental (JA!)/Friends of the Earth Mozambique, Les Amis de la Terre France, Milieudefensie, Reclaim Finance, ReCommon

BankTrack news BankTrack blog Partner news Partner blog

Environmental groups urge funding halt for TotalEnergies' Mozambique project

2023-11-17 | Reuters

Blog

BankTrack news BankTrack blog Partner news Partner blog

Who dares to finance Eni and Exxon’s dangerous Rovuma gas plans in Mozambique?

Two banks made clear they will avoid financing Rovuma LNG, but plenty remain in the frame.

2023-03-20 | BankTrack, Justiça Ambiental (JA!)/Friends of the Earth Mozambique, Les Amis de la Terre France, ReCommon

Blog

BankTrack news BankTrack blog Partner news Partner blog

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)

BankTrack news BankTrack blog Partner news Partner blog

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.

BankTrack quoted

2022-02-08 | Energy Source

BankTrack news BankTrack blog Partner news Partner blog

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

BankTrack quoted

2022-02-08 | Mining Weekly

Blog

BankTrack news BankTrack blog Partner news Partner blog

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

BankTrack news BankTrack blog Partner news Partner blog

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

BankTrack news BankTrack blog Partner news Partner blog

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

2021-10-04 | Daily Maverick

Blog

BankTrack news BankTrack blog Partner news Partner blog

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

BankTrack news BankTrack blog Partner news Partner blog

New BankTrack Equator Principles reporting tracking tool launched

2020-09-21 | BankTrack

Blog

BankTrack news BankTrack blog Partner news Partner blog

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

BankTrack news BankTrack blog Partner news Partner blog

Banks are turning a blind eye to Mozambique gas field graft

2020-06-23 | Business Live

BankTrack news BankTrack blog Partner news Partner blog

ABSA imposes strict new coal project financing criteria

2020-04-17 | Mining Weekly

BankTrack news BankTrack blog Partner news Partner blog

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

2020-04-08 | Engineeringnews.co.za

BankTrack news BankTrack blog Partner news Partner blog

Is your cash fuelling the climate crisis?

2019-11-25 | Mail & Guardian Online

BankTrack news BankTrack blog Partner news Partner blog

What Banking Officials Told South African Corruption Inquiry

2018-09-18 | Bloomberg

BankTrack news BankTrack blog Partner news Partner blog

Fake green hues in big banks’ environment-friendly boasts

2018-03-22 | BusinessDay

BankTrack news BankTrack blog Partner news Partner blog

Equator Principles goes beyond project finance, improves transparency

2012-08-13 | Environmental Finance

BankTrack news BankTrack blog Partner news Partner blog

While BankTrack criticizes Equator Principles, IFC celebrates Community of Learning

2011-10-25 | Washington | prizmablog.com

BankTrack news BankTrack blog Partner news Partner blog

Time to Improve the Equator Principles, BankTrack Says

BankTrack quoted

2011-10-24 | Washington | Social Funds

BankTrack news BankTrack blog Partner news Partner blog

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

BankTrack news BankTrack blog Partner news Partner blog

Financiers search for sustainable future

BankTrack quoted

2011-10-20 | Washington | Environmental Finance

Blog

BankTrack news BankTrack blog Partner news Partner blog

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

BankTrack news BankTrack blog Partner news Partner blog

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

BankTrack news BankTrack blog Partner news Partner blog

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

Resources

Documents

Annual report 2022

Annual report

2023-03-23 00:00:00 | Absa Group

Who is financing fossil fuel expansion in Africa?

BankTrack publication

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

Oil and Gas financing standard

Bank policy

2022-05-31 00:00:00 | ABSA Bank

Annual report 2021

Annual report

2022-04-05 00:00:00 | Absa Group

Annual report 2020

Annual report

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

CSR Report 2020

Annual report

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

PRB report 2020

Bank document

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

TCFD report 2020

Bank document

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

Code of ethics

Date listed represents date as accessed on website

Bank policy

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

Annual report 2019

Annual report

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

ESG report 2019

Annual report

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

Coal financing standard

Bank policy

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

Sustainability policy

Bank policy

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

Barclays Africa Group Citizenship Report 2013

Annual report

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

Annual Report Financial Results 2014

Barclays Africa Group Limited

Annual report

2015-03-03 00:00:00

Annual Report 2013

Annual report

2014-01-01 00:00:00

Annual consolidated and separate financial statements

for the reporting period ended 31 December 2012

Annual report

2013-03-27 00:00:00 | ABSA

B-BBee certificate

national Enpowerment Rating Agency

Bank document

2011-12-13 00:00:00 | Sanas

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

Correspondence

2010-12-18 00:00:00 | Banktrack

Absa money laundering control

Bank document

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

Accountability

Grievances

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

Absa Group is an Equator Principles signatory. While the Equator Principles have no official grievance mechanism, complaints relating to this bank's financing of Equator Principles projects can be filed through our own website www.equator-complaints.org.

This page evaluates Absa Group's responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".

Impacts reviewed

Responded?

Total score

Response

Action

Monitoring

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Banks and Climate

Partner organisation Reclaim Finance tracks the coal, oil and gas policies of financial institutions, including banks, in their Coal Policy Tool (CPT) and the Oil and Gas Policy Tracker (OGPT). BankTrack works closely with Reclaim Finance and endorses their policy assessments. Find further details on their assessment of Absa Group’s fossil fuel policy below.

Assessment of Absa Group's coal policy in the Coal Policy Tool

Banks and Human Rights

BankTrack assessed Absa Group in its 2021 Human Rights Benchmark Africa, where it achieved 2 points out of 14 and was ranked as a 'laggard'. More information is detailed in the "Accountability" section of this profile.

The BankTrack Human Rights Benchmark

BankLast update

Country

Score

Ranking

Details

Absa Group

ZAF

Laggard 2

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.

Send feedback on this profile

Active

Active

Links

Environmental sustainability

Oil and Gas financing standard

Code of ethics

Coal financing standard

Sustainability policy

How cool is your bank?

124 civil society organisations call on financial institutions to withdraw support for TotalEnergies’ Mozambique LNG project

Environmental groups urge funding halt for TotalEnergies' Mozambique project

Who dares to finance Eni and Exxon’s dangerous Rovuma gas plans in Mozambique?

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

South African banks opt out of EACOP financing

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

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

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

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

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

New BankTrack Equator Principles reporting tracking tool launched

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

Banks are turning a blind eye to Mozambique gas field graft

ABSA imposes strict new coal project financing criteria

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

Is your cash fuelling the climate crisis?

What Banking Officials Told South African Corruption Inquiry

Fake green hues in big banks’ environment-friendly boasts

Equator Principles goes beyond project finance, improves transparency

While BankTrack criticizes Equator Principles, IFC celebrates Community of Learning

Time to Improve the Equator Principles, BankTrack Says

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

Financiers search for sustainable future

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

Equator Principles: Action, not words needed

Civil society groups call for bold steps forward with Equator Principles

Annual report 2022

Who is financing fossil fuel expansion in Africa?

Oil and Gas financing standard

Annual report 2021

Annual report 2020

CSR Report 2020

PRB report 2020

TCFD report 2020

Code of ethics

Annual report 2019

ESG report 2019

Coal financing standard

Sustainability policy

Barclays Africa Group Citizenship Report 2013

Annual Report Financial Results 2014

Annual Report 2013

Annual consolidated and separate financial statements

B-BBee certificate

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

Absa money laundering control

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Banks and Climate

Assessment of Absa Group's coal policy in the Coal Policy Tool

Banks and Human Rights

The BankTrack Human Rights Benchmark

Human Rights Benchmark Africa 2021