Full annual report - African Bank - Investoreports

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GRI EC1, EC8
Environmental impact
The gravity of the global environmental challenge has required international
cooperation in the form of the United Nations Framework Convention on climate
change and the ratification of the Kyoto Protocol, to which South Africa has been a
signatory. The protocol has aimed to ensure a reduction of emissions by developed
countries and for its part, South Africa has committed to reducing domestic emissions
by 34% by the year 2020, and 42% by the year 2025. Similarly, South Africa has
committed to contributing towards the achievement of the International Millennium
Development Goals, which includes “Ensuring Environmental Sustainability”.
ABIL is committed to implementing the principles of sustainable development, and
fully endorses the national and international agenda on environmental
sustainability. The group’s green journey began in 2011 and although ABIL is
classified as a low to medium emitter of greenhouse gases, we believe in earnest
that efforts to reduce our environmental impact should be undertaken with the
same vigour as is expected of major emitting entities.
Environmental strategy
ABIL’s approach to environmental sustainability focuses on reducing its negative
impact through identifying and measuring outputs, setting targets and forming
appropriate structures, developing a phased action plan which includes
implementing plans throughout the organisation, education and awareness of
employees and stakeholders, obtaining buy-in and active commitment from
management and all employees.
During 2012, ABIL finalised its environmental policy which governs environmental
sustainability within the group. This policy is aligned to the international and
national agenda on the environmental issues, the King III Reporting principles
and corporate governance standards.
A formal structure has been established to guide and review the group’s
environmental initiatives. Both the Banking and Retail units have established green
sustainability committees. The Retail unit committee has made great progress in
2012, launching the green journey and implementing a number of emissions
reducing activities. The Retail unit’s green committee has galvanised environmental
transformation progress within the unit. The Banking unit’s committee, which was
established in 2011, lost traction in 2012 which resulted in the committee being
restructured bringing in senior employees to ensure that the green agenda is more
effectively communicated throughout the group.
We have realised that the greening journey is still in its infancy and it has
encountered many obstacles along the way. The group is committed to making
the necessary changes, but also wants to be genuine and transparent about the
difficulties that have been experienced along this complicated and intricate
journey towards sustainability.
Reduction targets
ABIL has set reduction targets to help drive environmental sustainability within the
group and manage the reduction of its carbon footprint. Reductions will be monitored