Full annual report - African Bank - Investoreports

To the management and stakeholders of African Bank:
Enlightened Energy (EE) was engaged by African Bank
Investment Limited (hereafter ABIL) to provide independent
verification services of the Greenhouse Gas (GHG) Emissions
Assessment (carbon footprint), covering the period
1 October 2010 to 30 September 2011. The carbon footprint
included emission sources from scope 1, 2 and 3 from African
Bank and Ellerines. The engagement was a desktop
verification comprising an expert team led by EE’s principal
carbon management emissions practitioner, Kimberly van
Niekerk, with 10 years’ experience in GHG emissions profile
analysis, carbon management, Carbon Disclosure Project
(CDP) advisory and emission reduction strategy development
with numerous top-tier customers in various countries.
GHG Protocol Guidelines and ISO Standard
To the best of our ability, this verification engagement has
been managed in accordance with the GHG Protocol’s
Corporate Accounting and Reporting Guidelines and the
ISO 14064-3 Standard, where the methodology of the
engagement was structured to meet the ISO Standard’s
requirements.
Independence
EE was not responsible for the preparation of any part of the
carbon footprint and has not undertaken any project work for
ABIL in the reporting period concerning reporting or footprint
data collection. EE’s responsibility in performing its verification
activities is to the management of ABIL alone and in
accordance with the terms of reference agreed with it.
Carbon footprint verification objectives
A carbon footprint measures total amount of GHG emissions
produced by an organisation over a specified time period
and assists management in understanding its GHG risks and
identifying emission reduction opportunities. The objective
of the verification is to provide ABIL stakeholders with an
independent opinion of whether the carbon footprint was
178
Independent
verification
statement
To the management and stakeholders of African Bank 178
GHG Protocol Guidelines and ISO Standard 178
Independence 178
Carbon footprint verification objectives 178
Scope of work performed 178
Findings 178
Recommendations 179
Conclusions 179
carried out in accordance with the GHG Protocol and ISO
14064 Standards. ABIL intends to use the verified GHG
emissions data in its 2012 submission to the CDP.
Scope of work performed
GHG Protocol Compliance
The process used in arriving at this verification statement is
based on the guidance and reporting principles contained in
the GHG Protocol and in the ISO 14064-3 Standard, as well as
other best practices in GHG emissions reporting.
Our approach to verification included the following:
■ A review of carbon footprint data gathering, collation,
calculation and reporting methodology at ABIL’s head office
to assess compliance with the GHG Protocol principles of
relevance, completeness, consistency, transparency and
accuracy;
■ A review of the final report and sample calculations for
errors and/or anomalies; and
■ Interviews, if/where necessary, with the individual(s)
responsible for preparing the carbon footprint to clarify any
issues and ensure that compliant processes were used to
determine the footprint.
Findings
It was determined that, in general, improvements are needed
in the company’s GHG emissions accounting and reporting
processes in certain areas. It is noted that:
GHG Protocol and ISO 14064
■ Relevance – ABIL has included the three footprint scopes (1,
2 and 3) broken down correctly for the reporting period.
This serves the decision making needs of the company.
■ Completeness – improvement is needed to ensure that all
required emission sources are included in the calculation
of the footprint. Emissions from CH4 and N 0 (these two,
2
together with CO , are to be included at a minimum as
2