Trustees
Nolulamo Nobambiswano Gwagwa
BA, MTRP, MSc, PhD
Zwoitwaho Calvin Nevhutalu
M. Phil (Environmental law and management, environmental law and management)
Oren Fuchs
BA, Economics / Political Science, MSc(DP), Planning, Certificate (Finance), Finance / nvestments / Accounting, Distinction with Honours, Impact Investing, Executive Education, mpact Investing
Sizwe Errol Nxasana
BCom, BCompt (Hons), CA(SA
Elizabeth Maepa
BCom, Business/Commerce, General, Managing Marketing & Related Support Services
Amanda Tandi Nzimande
(APPOINTED NOT ON LOA) BCom, CTA, CA(SA), HDip Co Law
Mary Vilakazi
(APPOINTED NOT ON LOA) BCom (Hons), CA(SA)
Bongiwe Njobe
(APPOINTED NOT ON LOA) MSc and GCE O Level
firstrand’s contract
with society
The nature, size and scale of the group’s business activities result in a broad set of financial and social outcomes:
- Provider of credit
- Custodian of the country’s savings
- Provider of transactional platforms for people to access and spend their funds
- Material taxpayer
- Large employer
Given this position, FirstRand recognises that it has a responsibility to deliver both financial value and positive social outcomes for multiple stakeholders. Embedding the principles of shared value into strategy and operations was introduced as a strategic priority for the group in 2019.
These principles underpin the group’s view that it must intentionally use core business activities, including its role in allocating capital to the economy, to add value to society – profitably and at scale.
The group’s total impact on society extends from the CSI spend by its foundations to how it manages its operations and, most importantly, how it deploys its balance sheet and core business activities.
CSI
(FOUNDATIONS)
Focus on sustainable development goals that do not completely align with core business activities
- Strategic allocation of limited funds
OPERATIONAL FOOTPRINT
Strategic management of resources used in running operations, e.g. energy and water management and procurement
- Medium-scale impact possible
- Impact limited to group’s immediate value chain
CORE BUSINESS ACTIVITIES
Strategically incorporate sustainable development goals that align with core business activities
- High-scale impact possible
- Ability to impact broader ecosystem and society
CSI (FOUNDATIONS)
Focus on sustainable development goals that do not completely align with core business activities
- Strategic allocation of limited funds
OPERATIONAL FOOTPRINT
Strategic management of resources used in running operations, e.g. energy and water management and procurement
- Medium scale impact possible
- Impact limited to group’s immediate value chain
CORE BUSINESS ACTIVITIES
Strategically incorporates sustainable development goals that align with core business activities
- High scale impact possible
- Ability to impact broader ecosystem and society
For more detail on FirstRand’s contract with society and its progress to date, refer to the group’s report to society.
Environmental and social risk
management
FirstRand has a role to play in the effective management of environmental and social risks of its lending and investment decisions, product and service offerings, own organisational impacts, and promoting responsible practice through its value chains.
The FirstRand environmental sustainability policy, together with the environmental and social risk assessment (ESRA) due diligence process, commits the group to review and manage these environmental and social impacts. FirstRand group has policy statements on environmental sustainability, climate change and excluded and sensitive industries, which are used to govern the group’s finance activities.
For any environmental enquiries please email us below.
Equator Principles report
FirstRand became an Equator Principles (EP) signatory in 2009 to provide a specialised subset of its ESRA process to RMB. The adoption of EP demonstrates long-term commitment to responsible lending.
EP performance reporting is externally assured by an independent third party in line with the requirements set out by the EP Association.
The EP performance reporting was previously included in the FirstRand environmental and social risk report. From 2018, this report forms part of the report to society.