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NedbankSouth Africa

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Last update: 2023-03-23 16:17:40
Nedbank head offices in Sandton Johannesburg. Photo: Paul Saad via Flickr (BY-NC-ND 2.0)

Active

This profile is actively maintained
Last update: 2023-03-23 16:17:40
About
Website http://www.nedbankgroup.co.za/
Headquarters
135 Rivonia Road
Gauteng 2196 Sandton
South Africa
CEO/chair Mr. Michael William Thomas Brown
CEO
Supervisor
South African Reserve Bank
Ownership
listed on JSE Limited

Nedbank's complete shareholder structure can be accessed here.

Nedbank Group Limited (‘Nedbank Group’) is a bank holding company which is one of the four largest banking groups in South Africa, with Nedbank Limited as its 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.

Sustainability
Commitments
Policies
Voluntary standards

Nedbank's most important sustainablility commitments can be found at the website sections listed below.

Links

Sustainability

Climate change

Managing Social and Environmental Risk

Climate change position statement

Bank policy
2022-05-25 00:00:00 | Nedbank

Energy policy

Bank policy
2022-03-02 00:00:00 | Nedbank

Financial policy on thermal coal related activities

Bank policy
2020-05-18 00:00:00 | Nedbank

Managing social and environmental risk

Date listed represents date as accessed on website
Bank policy
2020-04-16 00:00:00 | Nedbank

Code of ethics & conduct policy

Bank policy
2019-05-30 00:00:00 | Nedbank

Human Rights Statement

Bank policy
2019-05-01 00:00:00 | Nedbank

Sustainable development framework

Bank policy
2019-03-19 00:00:00 | Nedbank

Approach to fraud & corruption activities

Bank policy
2019-01-01 00:00:00 | Nedbank

Approach to social sustainability

Bank policy
2019-01-01 00:00:00 | Nedbank

Responsible investment guidelines

Bank policy
2018-06-08 00:00:00 | Nedbank
Nedbank has committed itself to the following voluntary standards:
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
Natural Capital DeclarationTags: sustainable development | finance | natural resources | corporate social responsibility
Principles for Responsible Investment (PRI)Tags: corporate social responsibility | sustainable development | United Nations
UNEP Finance InitiativeTags: United Nations | sustainable development
United Nations Global CompactTags: United Nations | human rights
Universal Declaration of Human RightsTags: human rights | United Nations
Dodgy Deals

Nedbank 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 Nedbank's link to these deals.

Projects / Companies
Finance type
Year
Campaigns

Banks and Human Rights

BankTrack assessed Nedbank in its 2021 Human Rights Benchmark Africa, where it achieved 4.5 points out of 14 and was ranked as a 'follower'. More information is detailed in the "Accountability" section of this profile.

Human Rights Benchmark Africa 2021

BankLast update
Country
Score
Ranking
Details
Nedbank
ZAF
4.5
Follower
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

Financing mining for transition minerals in South Africa: Are banks doing enough on human rights?

New briefing finds banks linked to companies extracting transition minerals are overlooking serious human rights and environmental concerns
2023-04-26 | Business & Human Rights Resource Centre
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
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

Meet the banks funding the owners of the Cambo oil field

New research shines a spotlight on the banks backing Shell and Siccar Point Energy
2021-10-29 | #StopCambo
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

Banks called upon to take action to protect biodiversity ahead of UN Biodiversity Conference in Kunming

Civil society organizations urge banks to adopt stringent “No Go” policy for biodiversity rich areas
2021-05-26 | Nijmegen | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Nedbank targets zero fossil fuel exposure by 2045

2021-04-22 | Just Share
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

Nedbank tables climate risk resolutions for May 22 shareholder meeting

2020-05-12 | Engineering News
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
Blog
BankTrack news BankTrack blog Partner news Partner blog

Every two weeks a bank, insurer or lender announces new coal restrictions

Major financial institutions restricting coal funding tops 100
2019-02-27 | IEEFA
BankTrack news BankTrack blog Partner news Partner blog

FirstRand joins exodus of banks funding new coal-fired power plants

2019-02-03 | Daily Maverick
BankTrack news BankTrack blog Partner news Partner blog

Nedbank withdraws funding for new coal IPPs

2019-01-29 | EE Publishers
BankTrack news BankTrack blog Partner news Partner blog

Gunvor joins other commodity players with sustainability-linked loan led by ING

Participating banks in the Gunvor facility include ABN Amro, CA Indosuez, Credit Suisse, DBS Bank, KfW Ipex-Bank, Mizuho, MUFG Bank, Nedbank, Rabobank, Raiffeisen, Société Générale, Sumitomo Mitsui Trust Bank and UniCredit.
2018-10-17 | Global Trade Review
BankTrack news BankTrack blog Partner news Partner blog

What Banking Officials Told South African Corruption Inquiry

2018-09-18 | Bloomberg
Blog
BankTrack news BankTrack blog Partner news Partner blog

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
2018-04-10 | Robyn Hugo - Centre for Environmental Rights, Yann Louvel – BankTrack
BankTrack news BankTrack blog Partner news Partner blog

Battle against the climate-destroying coal IPPs escalates

2018-04-03 | Centre for Environmental Rights
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

How green is our Nedbank?

2014-12-07 | News24.com
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
BankTrack news BankTrack blog Partner news Partner blog

Nedbank in African carbon neutrality first

2010-07-29 | SouthAfrica.info
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

BankTrack calls upon banks to Close the Gap on investment policies

New report evaluates quality of investment policies of 49 banks; more policies in place, overall quality below what is required
2010-04-27 | 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
Blog
BankTrack news BankTrack blog Partner news Partner blog

Mind the Gap: BankTrack rates credit policies of 45 banks

New report shows continuing gap between policies and practice
2007-12-19 | Utrecht | BankTrack
Resources
Documents
Links

Annual report 2022

Annual report
2023-03-23 00:00:00 | Nedbank

Climate change position statement

Bank policy
2022-05-25 00:00:00 | Nedbank

Annual report 2021

Annual report
2022-04-12 00:00:00 | Nedbank

Energy policy

Bank policy
2022-03-02 00:00:00 | Nedbank

Annual report 2020

Annual report
2021-03-26 00:00:00 | Nedbank

Letter from CRAAD-OI, WOMIN, IDI, BankTrack to ten FIs on Base Toliara project

Correspondence
2020-10-13 00:00:00 | CRAAD-OI, WOMIN, IDI, BankTrack

Financial policy on thermal coal related activities

Bank policy
2020-05-18 00:00:00 | Nedbank

Annual report 2019

Annual report
2020-04-16 00:00:00 | Nedbank

Managing social and environmental risk

Date listed represents date as accessed on website
Bank policy
2020-04-16 00:00:00 | Nedbank

Open Letter to Sappi CEO

NGO document
2020-03-12 00:00:00 | GeaSphere

Code of ethics & conduct policy

Bank policy
2019-05-30 00:00:00 | Nedbank

Human Rights Statement

Bank policy
2019-05-01 00:00:00 | Nedbank

Annual integrated report 2018

Annual report
2019-04-30 00:00:00 | Nedbank

Sustainable development review 2018

Bank document
2019-04-30 00:00:00 | Nedbank

Sustainable development framework

Bank policy
2019-03-19 00:00:00 | Nedbank

Approach to fraud & corruption activities

Bank policy
2019-01-01 00:00:00 | Nedbank

Approach to social sustainability

Bank policy
2019-01-01 00:00:00 | Nedbank

Responsible investment guidelines

Bank policy
2018-06-08 00:00:00 | Nedbank

Integrated Report 2017

Annual report
2018-04-10 00:00:00 | Nedbank

Sustainable Development Review 2017

Annual report
2018-04-10 00:00:00 | Nedbank

Consolidated financial statements 2016

Annual report
2017-06-01 00:00:00 | Nedbank Group

Sustainability review 2016

Bank document
2017-04-30 00:00:00 | Nedbank

Supplementary report; 2015 Global Reporting Initiative G4

Annual report
2016-08-30 00:00:00 | Nedbank Group Ltd.

Consolidated financial statements 2015

Annual report
2016-03-01 00:00:00 | Nedbank Group Ltd.

Transformation report 2015

Black economic Empowerment
Bank document
2016-03-01 00:00:00 | Nedbank

Supplementary sustainability review 2014

Annual report
2015-04-09 00:00:00 | Nedbank Group Ltd.

Integrated Report 2014

Annual report
2015-04-09 00:00:00 | Nedbank Group Ltd.

Fair Share 2030

Bank document
2015-04-09 00:00:00 | Nedbank

The Makira project

A REDD project in Madagascar
Bank document
2015-02-16 00:00:00 | Nedbank

Carbon Footprint Guide

Bank document
2013-12-31 00:00:00 | Nedbank

2012 Integrated Report

for the year ended 31 December 2012
Annual report
2013-03-09 00:00:00 | Nedbank

Annual Report 2011

Annual report
2012-06-21 00:00:00 | Nedbank

Annual report 2010

Annual report
2011-04-21 00:00:00 | Nedbank

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

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

Close the Gap

Benchmarking investment policies of international banks
BankTrack publication
2010-04-27 00:00:00 | BankTrack

Access to information statement

Bank document
2007-06-13 00:00:00 | Nedbank Group

Carbon disclosure Project: response CDP 5

Bank document
2007-05-31 00:00:00 | Nedbank Group
Accountability
Grievances

Nedbank operates a ‘Talk to the ethics office’, which is available as a mechanism for any external parties to report any human rights concerns.

Emails can be sent to TalkToTheEthicsO@nedbank.co.za.

This page evaluates Nedbank'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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