• Introduction
    • OVERVIEW
    • THE STANDARD BANK GROUP
    • OUR REPORTING SUITE
    • OUR SEE JOURNEY
    • ASSURANCE STATEMENT
     
     
     
     
     
  • SEE impact areas
    • OVERVIEW
    • 1.
      FINANCIAL INCLUSION
    • 2.
      JOB CREATION AND ENTERPRISE GROWTH
    • 3.
      INFRASTRUCTURE
    • 4.
      AFRICA TRADE AND INVESTMENT
    • 5.
      Climate change and sustainable finance
    • 6.
      EDUCATION
    • 7.
      HEALTH
     
  • ESG
    • OVERVIEW
    • OUR REPORTING SUITE
    • MESSAGE FROM SIM TSHABALALA
    • ESG GOVERNANCE
    • MATERIAL ISSUES DURING THE REPORTING PERIOD
    • ENGAGING OUR STAKEHOLDERS
    • HOW WE DO BUSINESS
    • MANAGING OUR ENVIRONMENTAL AND SOCIAL RISKS
    • SUSTAINABLE FINANCE
    • OUR PEOPLE
    • CORPORATE SOCIAL INVESTMENT
    • ESG METRICS,  POLICIES AND REPORTS
     
     
     
     
     
     
     
     
     
     
     
     
  • Transformation
    • OVERVIEW
    • INTRODUCTION
    • A MESSAGE FROM LUNGISA FUZILE
    • THE ROLE OF A BANK IN GROWING THE ECONOMY
    • STANDARD BANK’S BEE SCORECARD 2019
    • WHERE TO FIND MORE INFORMATION
    • B-BBEE CERTIFICATE
     
     
     
     
     
     
     
  • Downloads
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Our reporting suite

Standard Bank Group’s (the group or Standard Bank) ESG (environmental, social and governance) report provides an overview of the processes and governance structures the group has in place to support our commitment to doing the right business, the right way.

Report suite icon

It includes information about how we ensure that a strong ethical culture and appropriate conduct is embedded across the group – reflected in the way in which we treat our clients, suppliers and partners, how we support and develop our people, and how we impact on the societies in which we operate.

This report includes an overview of:

  • The governance structure overseeing ESG across the Standard Bank Group
  • Our material issues
  • How we engage with our stakeholders, and the policies and frameworks guiding this engagement
  • How we ensure appropriate business conduct, including through adherence to:
  • - Our values and code of ethics
    - United Nations Principles for Responsible Banking
    - Our human rights statement
    - Mechanisms for raising concerns/ whistleblowing
    - Transparency regarding tax matters
    and responsible procurement
  • How we manage risk, including regulatory and compliance risk, conduct risk, conflicts of interest and market abuse controls
  • Our policies and processes to combat financial crime, including anti-money laundering (AML) and combating the financing of terrorism (CFT), anti-bribery and corruption (ABC), prevention of facilitation of tax evasion, and measures to combat fraud
  • How we protect data privacy and security, cybersecurity and system availability
  • How we manage social and environmental risk, including climate-related risk
  • How we promote sustainable finance, through ESG-linked lending, our sustainable bond framework, sustainable trade finance, and investment in renewable energy
  • Measures we’re taking to reduce our direct environmental impacts and our progress against targets
  • How we invest in the development and training of our people, and attract and retain talent
  • What we do to promote diversity and inclusion across the group
  • How we promote employee wellbeing and appropriate working conditions
  • Our corporate social investment initiatives

This report is complemented by reports in Standard Bank’s reporting suite.
The annual integrated report provides a holistic assessment of our ability to create sustainable value in the short, medium and long term.
The governance and remuneration report discusses the group’s governance and remuneration priorities, as well as the group’s remuneration and implementation report.
For more information regarding Standard Bank’s social, economic and environmental (SEE) impacts, please see ourr reporting to society platform.
The risk and capital management report sets out the group’s approach to risk management, including current and emerging risks.
For information about how Standard Bank applies the principles of the King IV™ Report on Corporate Governance for South Africa, please visit the group’s governance and remuneration report.
* Also known as the King Code and King IV™. Copyright and trademarks are owned by the Institute of Directors in Southern Africa NPC and all of its rights are reserved.
Our annual financial statements set out the group’s full audited annual financial statements, including the report to the audit committee.
Quarterly disclosures in accordance with the Basel Committee on Banking Supervision’s revised pillar 3 disclosure requirements, the South African Reserve Bank (SARB) Directives 11/2015 and 1/2018 issued in terms of section 6(6) of the Banks Act No. 94 of 1990 and Regulation 43 of the regulations relating to banks can be found here
Message from Sim Tshabalala
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Sim Tshabalala
STANDARD BANK GROUP CHIEF EXECUTIVE

Around the world, investors, regulators and standard setting bodies are demanding greater transparency about how businesses are managing non-financial risks, particularly those created by climate change. Social expectations about the role and responsibilities of business in general also continue to change. Our business depends on us being a trusted partner to a broad range of stakeholders, including our clients, our regulators, our business partners and the communities in which we operate.

ESG governance

The Standard Bank Group board is responsible for ensuring the group conducts itself as a responsible, ethical corporate citizen.

Dedicated board and management committees are responsible for the oversight of ethics, conduct, culture, stakeholder engagement and ESG risk management, to ensure our values and standards are reflected in all our day-to-day activities. In 2019, the group adopted a new ESG governance framework, which recognises ESG as a separate risk type within non-financial risk and assigns clear accountability for management of this risk area.

GROUP EXECUTIVE COMMITTEE
monitors adherence to group policies and standards, including values and code of ethics
ensures appropriate governance structures, policies,
procedures, practices are in place to identify risks, resolve issues and strengthen risk culture
drives business alignment with conduct and ESG strategies, ensuring clear
business ownership and accountability
oversees conduct dashboards prepared by business units and corporate functions
SBG BOARD
GROUP RISK AND CAPITAL MANAGEMENT COMMITTEE (GRCMC)
oversees ESG risk, sets ESG risk appetite, approves group ESG risk standard and policy, considers risk associated with allocation of capital
GROUP SOCIAL AND ETHICS BOARD COMMITTEE
defines strategy, approves codes of conduct and relevant guidelines and policies,
including human rights statement and code of ethics governs and oversees group activities relating to conduct, ethical standards and stakeholder engagement
ensures material stakeholder issues receive attention from board and management
GROUP RISK AND CAPITAL MANAGEMENT COMMITTEE (GRCMC)
reports to the GRCMC, oversees all risk types, approves relevant risk governance policies, promotes risk management culture in the group, ensures effective ESG risk management, oversees processes implemented by business unit risk committees and mandated forums, including client and transaction screening and due diligence to assess potential human rights and environmental impacts
GROUP OPERATIONAL RISK COMMITTEE
reviews non-financial risk as defined by the group nonfinancial risk governance framework
includes all heads of operational risk: technology, cyber, information, fraud, ESG and tax risk
PORTFOLIO RISK MANAGEMENT COMMITTEE
subcommittee of Corporate & Investment Banking (CIB) credit governance committee, sets concentration limits or thresholds of portfolios and risk appetite indicator guidelines for the group
SOCIAL AND ETHICS MANAGEMENT COMMITTEE
reviews matters related to ethics, market conduct, personal conduct and societal conduct before these are submitted to the group social and ethics committee
CLIENT RISK COMMITTEES
assess issues related to ethics and conduct in relation to onboarding new clients, new client mandates, and existing client relationships, including conflicts of interest, anticompetitive behaviour and financial crime
assess new and existing clients in relation to risk level and proposed activities with a focus on sanctions, terrorist financing, bribery and corruption, money laundering and fraud
SUPPLIER RISK COMMITTEE
reviews issues related to ethics and conduct in relation to suppliers and third parties, including conflicts of interest, anticompetitive behaviour, human rights and conduct
BUSINESS UNIT AND CORPORATE FUNCTION HEADS
prepare conduct dashboards for quarterly reporting

For further information about Standard Bank’s board structure, management structure and related policies, please refer to the Standard Bank Group’s Annual Integrated Report and our Governance and Remuneration Report.