JSE SRI INDEXNedbank Group fully supports the efforts of JSE Limited (the JSE) as the first stock exchange globally to develop a socially responsible investment (SRI) index, launched in May 2004, and is proud to be rated first in the low-environmental impact category of the companies included in the SRI index for 2006.
Nedgroup Investments offers a unit trust,the Nedgroup Investments Renaissance Fund, that incorporates social responsibility elements. This fund works somewhat differently to many other social investment funds, which are often restricted in terms of where they can invest. By contrast, the Nedgroup Investments Renaissance Fund is not limited to certain stocks.
Since December 1999, the Nedgroup Investments Renaissance Fund has donated more than R2 million (excluding VAT) to Rape Crisis, Habitat for Humanity, Childline and the National Institute for Crime Prevention and Rehabilitation of Offenders (NICRO).
The money donated to the four charities listed above comes from two sources. Nedgroup Investments donates 60% of the initial fee on investor money flowing into the Nedgroup Investments Renaissance Fund, while the fund manager, Cadiz African Harvest Asset Management, and Nedgroup Investments donate 30% of the annual investment management fee.
The fund received the 'Best in Sector' award over one year in the category Domestic – Asset Allocation Prudential High Equity Sector at the 2005 Standard and Poor’s/FM Awards and the ‘Best in Sector’ award over three years in 2006.
Nedbank Group is proud of the products it has developed and which highlight the clear link between environmental responsibility and economic prosperity. We shall continue to research new and innovative ways of illustrating our commitment to environmental issues.
NEDBANK CAPITAL GREEN MINING AWARDSAchieving the delicate balance between economic objectives, social upliftment and environmental responsibility is what Nedbank Capital strives for as an integral part of its strategy, guiding the manner in which it operates as a business. To encourage similar pursuits in the mining sector, the Nedbank Capital Green Mining Awards was launched in 2006 as a way of broadening the debate on environmental sustainability issues with our clients.
African mining and mineral beneficiation operations that have made a significant effort to promote sustainability – as a whole or individually – are honoured by the Nedbank Capital Green Mining Awards in the following categories:
- Limited Resources.
- Anglo Coal for its Isibonelo Wetlands Project in the Environmental Category;
- Palabora Mining Company for the Palabora Foundation in the Socioeconomic Category; and
- Anglo Platinum for the company’s sustainability programme in the Sustainability Category.
No award was made in the Limited Resources Category. These awards will be available to projects across the African continent from 2007.