firstrand’s contract
with society

The nature, size and scale of FirstRand’s business activities mean that it inevitably impacts society in its broadest sense, as a

  • systemic provider of credit;
  • keeper of the country’s deposits and savings;
  • provider of channels for people to access their funds and spend;
  • material taxpayer; and
  • large employer.

Given this position, FirstRand recognises that it has a responsibility to create shared value to multiple stakeholders.

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
Scalability and impact grows
CSI (FOUNDATIONS)

Focus on sustainable development goals that do not completely align with core business activities

  • Strategic allocation of limited funds
2018 CSI
spend

R342 million*

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
2018 total
procurement of

R18 billion


R3 billion**

from black-owned
companies

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
2018 total
assets

R1 532 billion

Scalability and impact grows

For more detail on FirstRand’s contract with society and its progress to date, refer to the group’s report to society.

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.