The environment

other environmental initiatives

 

PRINCE’S RAINFOREST PROJECT

In 2008 Nedbank Group was involved in efforts to stop deforestation in Africa and to preserve our world’s rainforests. This involvement took the form of a partnership with the Prince’s Rainforest Project (PRP), the African chapter of which was launched in August 2008. The launch also saw the formation of the African Advisory Council for the PRP, with representatives from seven African countries. Nedbank Group Chief Executive Officer, Tom Boardman, chairs this council.

The African PRP is aimed at helping to focus attention on Africa and find solutions for the problem on our continent, especially in terms of developing other sources of income for the many people who currently depend on deforestation activities to survive.

CRADLE OF HUMANKIND CONSERVANCY

During 2008 about 2 441 indigenous trees were reintroduced to the property, which comprises land owned by Nedbank Group in the Muldersdrift Cradle of Humankind Conservancy and which is managed with the input of the local municipality and the Department of Water Affairs and Forestry. Monthly checks of water bacteria levels upstream, as well as weekly checks of waste water, continue to be performed by external specialists. Nedbank Group held regular meetings with the Gauteng Department of Agriculture, Conservation and Environment to ensure that it is operating within the biodiversity plan for the Cradle of Humankind area. In addition, 200 indigenous trees were planted at the Killarney offices.

 

NEDBANK CAPITAL GREEN MINING AWARDS

The third annual Nedbank Capital Green Mining Awards took place in 2008. These awards acknowledge and celebrate the contribution that responsible mining and mineral beneficiation makes to the economic development of Africa. In 2007 the awards were opened up to the whole of Africa, and the increased response for nominations in 2008 indicates that awareness of sustainability considerations continues to increase and that more and more mining companies are striving towards a more sustainable future for their mines and those communities affected by them. This year was the first year that an African mining company took the honours in the Limited Resources category. The 2008 winners of the third annual Nedbank Capital Green Mining Awards were as follows:

Environmental category	Lonmin plc for its rehabilitation of Vlakfontein Mine
Limited Resources category	Golden Star Resources for its Oil Palm Project
Socioeconomic category	Lonmin plc for its Lonmin International Finance Corporation Local Supplier Development Programme
Sustainability category	Xstrata Alloys for its Sustainability Programme

Nedbank Capital is encouraged that the Green Mining Awards are providing a platform to broaden the debate on environmental and sustainability issues within the mining industry.

Celebrating their success at the Nedbank Capital Green Mining awards, from l to r: Daniel Owiredu (Golden Star Resources); Tracey Peterson (De Beers); Alex Burger (IFC); Steve Pihiri (Merafe Resources); Deon Dreyer (Xstrata Alloys); Nikki Lindsay (De Beers); Marinda van der Merwe; Natalie Kincaid-Smith; Elize Swart and Jeffery Ngobeni (all Lonmin Plc).

ADB PROVIDES US$100 MILLION TO NEDBANK TO SUPPORT SUSTAINABLE ECONOMIC GROWTH ON THE AFRICAN CONTINENT

As a result of a shared vision to support capital formation and infrastructure development in Africa, African Development Bank (ADB) has again aligned with Nedbank in making a new facility available.  ADB, through its Private Sector, Infrastructure and Regional Integration Department, and Nedbank have signed a US$100 million line of credit, in terms of which it will lend long-term dollars to Nedbank. The loan facility will be used by Nedbank Capital, the investment banking business of Nedbank Group for qualifying projects, thereby supporting its strategy of funding projects on the African continent.