Green award
South Africa's 'green' bank once again took top honours in the category Financial Times Emerging Markets Sustainable Bank of the Year for Middle East and Africa for 2010 - an award it previously garnered in both 2007 and 2008. The ceremony took place on 3 June 2010 at a gala dinner at the Renaissance Chancery Court Hotel in London.
The awards recognise financial services organisations across the globe, which have shown leadership and innovation in their sustainability efforts. The chosen organisations also demonstrate a commitment to addressing environmental and social issues by integrating sustainability principles into their strategic business approach and operational processes.
According to Brigitte Burnett, head of sustainability, the bank's continued effectiveness in the sustainability space is the direct result of its integrated approach, which combines an equal commitment to the environmental, economic, social and cultural aspects of sustainability.
The effectiveness of this integrated approach to sustainability is also evident in the string of sustainability achievements that have preceded this award. These include:
Burnett also points out that the FT Sustainable Banking Award is a fitting precursor to the imminent achievement of its vision, announced in 2009, to become the first South African financial institution to go carbon neutral.
"Our concerted efforts towards achieving carbon neutrality, including a commitment to achieving our stringent energy and resource usage reduction targets, are delivering the desired results. This means that the group is well on its way to realising its carbon neutrality objective as another significant milestone on its sustainability journey - one that, combined with this award, will further validate our reputation as a leading contributor to, and motivator of, sustainability in South Africa," she concludes.
Nedbank Capital, the group's investment banking arm, is supporting an innovative solar-powered traffic lights at several intersections in and around Sandton, where the bank's head office is located. These intersections form part of a pilot project undertaken by the Johannesburg Roads Agency (JRA) and Sunrise Technologies, where the traffic lights are powered exclusively by solar energy, without any draw from the region's power grid.
Carla Rossi, head of marketing for Nedbank Capital, says, "Our investment into these solar powered traffic lights effectively reduces the city's power requirements and, consequently, its overall carbon footprint. We are delighted to support the JRA in their quest to 'green' the Sandton CBD, and to be involved in such an innovative project that fits neatly with the group's mission to reduce global carbon emissions.'
In addition to the five 12x3m solar structures, which are situated at the intersections of Grayston & Sandton Drive, Grayston & 5th, Grayston & Linden, Grayston & Katherine, and Rivonia & South, it has sponsored two rotor lights which contain a battery back-up that kicks in if the power goes out. These rotor lights power the intersections to the group's head office building (Rivonia & Fredman Drive and Rivonia & Maude Street).
Ka Shabangu, chairman of Sunrise Technologies, says that each solar powered intersection has the potential to save up to 150 kW hours per month, amounting to a saving of 1800 kW hours per year for each intersection - enough to power 6750 energy saver light bulbs for 24 hours. "This means that these intersections reduce our city's dependence on non-renewable resources while ensuring that power failures don't exacerbate our traffic congestion problems," he adds.
