5 October 2011 | Linton Nightingale
Water, Africa

 

In 2010 Nedbank became the first financial organisation in Africa to achieve carbon neutrality, effectively entrenching its position as a sustainability leader. The group has since made water a key focus of its ongoing sustainability efforts. The objective is simple: water security.

In 2008 a panel, including UN Secretary-General Ban Ki-moon, addressed international business CEOs and civil society leaders at the World Economic Forum. Delegates were told that water stress poses a risk to economic growth, human rights, health, safety and national security. ‘The challenge of securing safe and plentiful water for all,’ the Secretary-General said, ‘is one of the most daunting challenges faced by the world today.’

But the issue of water is complex, for it intersects everything from energy to economics, from climate to food. So, it’s ironic that this precious resource has no economic value; and, perhaps as a result, is wasted on a macro scale, worldwide.

According to a United Nations report, surging population growth, increasing climate change, and growing demand for energy will compound an already water-short world – particularly in parts of Asia and Africa.

The World Wildlife Fund (WWF) estimates that around 98% of South Africa’s freshwater supplies are currently allocated and that demand will outstrip supply by 2025, jeopardising economic growth that is vital for ongoing socio-economic development.

Nedbank’s increased focus on water is a key part of the group’s climate change response strategy and underpins the urgent need to tackle climate change impacts, as will be addressed at COP17.

A series of discussions at COP17 will centre on recommendations for the Parties to implement the Water, Climate and Development programme in order to meet the water-related commitments outlined in the Convention on Climate Change and the Cancun Agreements.

For Nedbank, which is widely regarded as the green and caring bank, there is no doubt of its responsibility to assist government in meeting these international commitments.

As a voluntary participant in the Water Disclosure initiative of the Carbon Disclosure Project, and as the first South African bank to sign the CEO Water Mandate, the group has already had much success in promoting effective water management and conservation.

Nedbank’s water stewardship programme targets water scarcity, water quality and access to water through a number of ways. Some of these include the following:

> In 2011 Nedbank announced its intention to invest R9 million – an amount proportional to its operational water use – in WWF’s Water Balance Programme. The investment will fund the removal of alien invasive species from two of South Africa’s high-priority water catchment areas, releasing an estimated 550 000 kilolitres of water a year. In addition to increasing water supply, the investment will also improve water quality, create jobs and contribute to climate change adaptation and resilience.

> The Nedbank Foundation, the primary corporate social investment unit of the group, has funded the distribution of hundreds of Hippo Water Rollers to rural communities. These mobile water rollers enable people to collect, transport and store fresh water.

> On behalf of its Green Affinity clients, Nedbank has donated more than R115 million to the WWF Nedbank Green Trust, which funds several climate change and water- and wetland conservation projects.

> Internally, Nedbank has reduced its water consumption by approximately 17% over the past two years. The group also distributed 27 000 water saving devices among its staff, which, potentially, could save more than 100 million litres of water a year.

> Nedbank Capital plays a major funding and advisory role in water infrastructure projects in southern Africa.

What these many efforts speak to is Nedbank’s commitment to help improve water quantity, quality and accessibility. The end result is a water-abundant future.

 

For enquires, please contact the Head of Sustainability, Nedbank Group: Brigitte Burnett on:

Tel: +27 11 294 3692

Fax: +27 11 295 3692

E-mail: .(JavaScript must be enabled to view this email address)

For more information on Nedbank’s sustainability initiatives, please visit www.nedbankgreen.co.za and www.nedbankgroup.co.za/sustainabilityOverview.asp

 

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