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Nedbank is moving on coal power, but two plants are stuck on its radar
The South African bank is the first from the Global South to move out of new coal plants, but is still backing Thabametsi and Khanyisa
NedbankSouth Africa
Created before Nov 2016
Last update: 2018-06-15 12:01:04
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About Nedbank
Nedbank head offices in Sandtown Johannesburg. Photo: Paul Saad via Flickr (BY-NC-ND 2.0)Nedbank Group Limited (‘Nedbank Group’) is a bank holding company that operates as one of the four largest banking groups in South Africa, with Nedbank Limited as their principal banking subsidiary. The bank was originally founded in 1888 in Amsterdam as the Nederlandsche Bank en Credietvereeniging ('Dutch Bank and Credit Union'). The bank expanded to South Africa in 1951 as the Netherlands Bank of South Africa Limited. The bank offers wholesale and retail banking services as well as insurance, asset management and wealth management.
| Website | http://www.nedbankgroup.co.za/ |
| Headquarters |
135 Rivonia Road
Gauteng 2196 Sandton
South Africa
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| CEO/chair |
Mr. Michael William Thomas Brown CEO |
| Supervisor | |
| Annual report | Integrated Report 2017 |
| Ownership |
listed on JSE Limited
Publicly listed at JSE stock exchange, the majority shareholder is Old Mutual Life Assurance Company Ltd., with 53.32% ownership of Nedbank Group Ltd. |
Related Dodgy Deals
Nedbank 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.
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Projects
Active
Kusile coal power plant South Africa
Active
Thabametsi coal power plant South Africa
There are no projects active for Nedbank now.
Companies
There are no companies active for Nedbank now.
Dodgy Deals map
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Policies
Voluntary initiatives
Nedbank has committed itself to the following voluntary standards:Investment policies
Nedbank's webpage on corporate social responsibility can be accessed here.
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Issues
Nedbank and the Equator Principles
The Equator Principles are a voluntary commitment of banks to try to avoid or minimise the social, environmental and human rights impact of projects they finance. For more information on the Equator Principles see their website here and the campaign page of BankTrack here.
The Equator Principles exist already since 2003. Nedbank adopted the Equator Principles in 2005.
Reporting on the Equator Principles
Nedbank must report annually on its implementation of the Equator Principles. All information is supposed to be found here.
- Nedbank is in compliance with its reporting obligations. The 2015 report can be found here.
Dodgy Deals
Nedbank is involved in financing the following Equator Principles projects that BankTrack considers controversial.
Equator Principles
Implementation and reporting
Nedbank is reporting on the implementation here.
Contact and complaints
Equator Principles Dodgy Deals
Good moves
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