A CSI strategy anchored to the green economy enhances Nedbank’s ability to do good see money differently
One of the biggest challenges for corporate social investment (CSI) in South Africa is the fact that the demand for financial support of worthy causes and upliftment projects continues to outstrip supply. Responding to this challenge demands that organisations find ways to optimise the support they make available and ensure that every rand provided through their CSI initiatives delivers maximum bang for their CSI buck. For Nedbank, responding appropriately to this need means constantly revisiting and adapting its CSI strategy and approach to align with the constantly shifting needs of people and communities. At the end of 2019, this comprehensive self-assessment led the Nedbank Foundation – Nedbank’s primary CSI arm – to identify the green economy as a sustainable and meaningful overarching theme around which the group’s entire CSI strategy and approach could be designed going forward. According to Poovi Pillay, Executive Head of the Nedbank Foundation, the decision to anchor Nedbank’s CSI efforts in the green economy was based on the recognition of the green economy as much more than just an environmental issue, but rather a key enabler of South Africa’s economic growth, social upliftment and inclusion, and the protection of the country’s natural ecosystem.
Green economy strategic lever 1: Agriculture The agriculture strategic lever focuses on supporting innovative supply chains, beneficiation, diversification in the sector, appropriate land use, regenerative agriculture and building climate-change resilience. Just one example of a project that is achieving these outcomes through Nedbank’s partnership and support is the Buhle Farmers Adacemy. The programme is working to address specific constraints that developing farmers face and support them by providing training, skills transfer coaching, mentoring and start-up funding assistance. To date, the Nedbank Foundation has provided close to R5 million in support, which has enabled the 10 participating farmers to enhance the business performance of their farms, deliver employment opportunities, maximise their involvement in the food value chain and contribute to local economic development and food security in their communities.
‘Building the green economy is the only truly viable pathway to a resource-efficient, low-carbon, pro-employment future for our country,’ he explains. ‘Our commitment to the green economy as our CSI anchor strategy is one of the key ways in which we intend contributing to its realisation and sustainable effectiveness. Our green economy anchor theme enables us to deliver on our purpose (to do good) in a way that maximises our social impact while creating shared value for all our stakeholders and our own business.’ While the official implementation of the Green Economy CSI strategy had to be put on hold in 2020 due to Covid-19, the Nedbank Foundation has gradually been realigning its key support focus areas to the four main themes underpinning the strategy, namely agriculture, energy, water and waste. The strategy has been implemented at the start of 2021 and since then, its potential to maximise Nedbank’s CSI commitment has been made patently clear through the outcomes delivered by the projects receiving support.
12 | Public Sector Leaders | December • January 2022
Green economy strategic lever 2: Energy The energy strategic lever involves targeted support of the circular economy, access to energy by rural communities, innovation, generation
