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Absa GroupSouth Africa

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This profile is actively maintained
Last update: 2023-03-23 15:51:19
Absa Group head offices. Photo: Courtesy of Absa Group

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 Banking (PRB)Tags: climate change | corporate social responsibility | finance | sustainable development | United Nations | Voluntary Standards
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
Campaigns

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.

Human Rights Benchmark Africa 2021

BankLast update
Country
Score
Ranking
Details
Absa Group
ZAF
2
Laggard
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
BankTrack
Partners
Blog
External
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.

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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