As a member of the Banking Association of South Africa (BASA), we have adopted a Code of Conduct for Managing Environmental and Social Risk which codifies the role of financial institutions in protecting, promoting and fulfilling social, economic and environmental rights in South Africa. The code covers our operations, procurement, lending practices, products and services and sets a benchmark for effective management of these risks.

As a member of the United Nations Environmental Programme Finance Initiative (UNEP FI) we are committed to raising awareness and understanding about how the financial sector impacts society, and how a shift in priorities and ways of working is crucial for the sector to remain relevant and legitimate in the future. Standard Bank is the Deputy Chair of the UNEP FI Banking Committee and one of the 28 founding member banks of the Principles for Responsible Banking.

We are updating and aligning our systems and processes to be consistent with relevant International Finance Corporation (IFC) Performance Standards.

We are signatories of the Equator Principles (EP), a global standard for screening social and environmental risk. The EP provides a minimum standard for due diligence and monitoring to support responsible risk decisionmaking. This requires us to ensure that, when we lend or provide advisory services to clients, actions are taken to evaluate and actively avoid and mitigate any negative social or environmental impacts. Standard Bank is the longest serving Chair of the Equator Principles Association and the first African bank to be elected to this position. Currently 92 Equator Principles Financial Institutions (EPFIs) in 37 countries have adopted the EPs.

We undertake independent external assurance of our approach and outcomes for our projects financed (both advisory and project related lending).

Human rights are the basic and universal rights that underpin each person’s inherent freedom, dignity, and equality as outlined in the United Nations Universal Declaration of Human Rights and the International Labour Organisation Declaration on Fundamental Principles and Rights at Work. We have used these universal benchmarks as our starting point for defining human rights and have based our human rights statement on the UN Universal Declaration of Human Rights.

Standard Bank was recently certified as a Level 1 BEE Company, under the newly revised Financial Sector Code. Standard bank realises the need for transformation and continual development of a company culture that accommodates diversity and inclusion. This includes transparent engagement within the Group, from Board members to general staff, on issues that impact on our ability to accelerate transformation; Ensuring that our core business makes a substantial contribution to enabling economic activity and driving economic transformation; and Partnering with third parties to develop black-owned businesses as suppliers to Standard Bank.