Our purpose is to drive Africa’s growth. We are committed to being more than a provider of financial products and services – we are a catalyst for economic change in our countries of operation and we make life better for our fellow Africans by doing the right business the right way. On this page you will find an overview of Standard Bank and why we believe in ‘reporting to society’.
SEE moreAn account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
Africa is our home, we drive her growth. We aim to make life better for our fellow Africans by doing the right business, the right way, contributing to the financial wellbeing of our clients, and supporting sustainable and job-creating growth of the economies in which we operate.
On this page:An account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
Our reporting to society platform aims to communicate with a broad group of stakeholders about how we approach Environmental, Social and Governance (ESG) processes, and how we impact on the societies, economies and environments in which we operate.
SEE moreAn account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
SEE requires us to take a long-term view, and to assess the positive and negative impacts of every business decision not just for the group, but for the communities in which we operate.
On this page:An account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
We have a series of internal policies, procedures and controls in place to ensure that accurate data is provided. Our group social and ethics committee provided oversight of this report. PricewaterhouseCoopers provided limited external assurance on selected performance data in this report, indicated by a (tick), in accordance with the International Standard on Assurance Engagements (ISAE 3000). The scope of the assurance engagement and the statement of assurance are provided in this section.
Download PDFAn account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
We’ve identified seven areas in which we believe we can best achieve our purpose, to drive Africa’s growth, while making a substantial positive impact on society, the economy and the environment.
SEE moreAn account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
Financial inclusion supports economic and human development and reduces inequality. Achieving financial inclusion requires that individuals and businesses have access to useful and affordable financial products and services that meet their needs, delivered in a responsible and sustainable way. This includes payments, savings, credit and insurance.
Summary Digital solutions to improve access and affordability Consumer education Providing solutions to encourage people to save and plan for their future financial security Enabling home ownership Insurance Remittance servicesAn account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
Standard Bank adopted health an additional SEE impact area in 2019, in line with SDG 3, to ensure healthy lives and promote well-being for all at all ages, and in recognition that attainment of several other SDGs, including ending poverty and reducing inequalities, depends on improving the health of Africa’s people.
Summary Affordable health and life insurance solutions Provision of medical equipment and infrastructure Corporate social investmentAn account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
Job creation and enterprise growth drives economic development and alleviates poverty. Standard Bank works with our clients to understand their challenges and priorities, provide them with appropriate financial solutions to support their growth and expansion into new markets, and deliver digital solutions to meet their unique needs. We also provide targeted support to our SME clients, to help them develop their businesses, grow their skills, manage cash flow and access new business opportunities.
Summary Partnering with Africa’s fintech entrepreneurs Standard Bank incubators and enterprise development services Innovative credit solutions Technological solutions for small-scale farmers to improve productivity and access to finance Partnership with UN Women to improve women farmers’ productivity through climate smart agriculture Services tailored for small enterprisesAn account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
Improvements to energy, water, transport and telecommunications infrastructure facilitate economic growth and create opportunities for job creation and human development. Crucial public infrastructure, like schools and housing, helps people improve their standards of living and future prospects. Standard Bank works with governments, development finance institutions and other commercial banks to structure and provide appropriate financial solutions to address Africa’s infrastructure gaps.
Summary Energy infrastructure Transport infrastructure Telecommunications infrastructure Sustainable housing School infrastructureAn account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
Africa’s growth depends on her people having access to quality education, and the promotion of skills training and lifelong learning opportunities in the context of the fourth industrial revolution. Standard Bank supports this in various ways. We work with partners in the education and corporate sectors to address the challenge of affordable and accessible student finance.
Summary Corporate social investment Access to student finance Employee developmentAn account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
African economic growth depends on the ability of African governments and businesses to access international investment and value chains. Standard Bank helps facilitate investment and trade flows between African countries, and between African countries and global markets, drawing on our presence in major international markets, our ability to access international pools of capital, our strong client relationships with global multi-nationals, and our strategic partnership with ICBC.
Summary Facilitating investment in Africa Helping African governments and businesses access capital Connecting China and Africa Taking the friction out of trade financeAn account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
Africa is extremely vulnerable to climate change, with major implications for agricultural production, food security, access to water, health and livelihoods. Many parts of the continent are already experiencing increased water stress as a result of prolonged drought, while yields from rain-fed agriculture are declining in many areas.
Summary Managing climate-related risk Sustainable finance Working with businesses and households to implement smallscale green energy solutions Sustainable bond framework Sustainable trade finance UN Principles for Responsible BankingAn account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
Standard Bank recognises that our core business activities must contribute to the prosperity and wellbeing of the societies and environment in which we operate. This understanding defines our purpose: Africa is our home. We drive her growth, and is supported by sound environmental, social and governance (ESG) management.
This report provides an overview of the groups ESG policies, processes and governance structures in place to support our commitment to doing the right business the right way.
SEE moreThis report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
Our report highlights 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.
SEE moreThis report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
“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.”
SEE moreThis report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
The Standard Bank Group board is responsible for ensuring the Standard Bank Group conducts itself as a responsible, ethical corporate citizen
On this page:This report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
Standard Bank’s material issues are those that matter most to our key stakeholders and providers of capital, and impact on our ability to create value in the short, medium and long term. Our material issues are informed by the expectations of our stakeholders, and the economic, social and environmental context in which we operate.
On this page:This report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
Stakeholder engagement is part of our everyday business. We depend on constructive relationships with our diverse stakeholders to achieve our purpose of driving Africa’s growth, understand stakeholder expectations, and help us identify the material issues impacting our business.
On this page:This report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
Achieving our group purpose and strategy depends on our reputation as a trusted partner across Africa. The group's code of ethics, organisational culture and values determine how we do business and with whom we do business.
How we do business Ethics and values Managing our risks Whistleblowing UN Principles for Responsible Banking Respecting human rights Our approach to tax matters Our approach to procurement Personal Conduct and managing conflicts of interest Market conduct and treating our customers fairly Market abuse controlThis report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
Standard Bank’s ESG risk assessment process is based on international best practice. The group adopted an environmental and social risk governance standard and policy in 2018, which set out the principles under which we identify, measure, manage and report on environmental and social (E&S) risk.
Managing our environmental and social risks Managing E&S risk in lending Managing climate risk Reducing our direct environmental footprintThis report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
There is an increase in opportunities to deliver sustainable and impactful investment expertise to our clients and stakeholders across a broad range of growth themes.
Sustainable finance Sustainable Bond Framework Sustainable trade finance Investment in renewable energy Working with businesses and households to implement smallscale green energy solutionsThis report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
How our people think and feel about their work correlates directly with how satisfied our clients are, and how successful we are in delivering our strategy and performance aspirations. We strive to create a work environment in which our people feel deeply connected to our purpose, their colleagues and our clients.
Our people Leadership development Employee development Talent attraction and retention Diversity and inclusion Employee wellbeingThis report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
Standard Bank aims to create shared value through our corporate social investment (CSI) initiatives, addressing social needs in a sustainable manner. Our CSI programme aims to deliver benefits for the communities in which we operate, while enhancing our visibility and reputation, improving our employee experience, and demonstrating our local relevance
SEE moreThis report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
We understand that the responsible management of environment, health, safety and social responsibility issues is important to our growth, profitability and long-term success. This section provides a selection of our ESG performance data from 2017 – 2019 and a view of our governance policies.
On this page:
This report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
Our 2019 B-BBEE certificate.
Download PDFThis section of our reporting suite looks at how The Standard Bank of South Africa (SBSA) is enabling the transformation of South Africa’s economy through our broad-based black economic empowerment programmes.
Standard Bank South Africa’s (SBSA) Transformation report provides an overview of the activities that we perform to support economic inclusion and transformation in South Africa. The report is structured according to the elements of the Financial Sector Code (FSC) and covers the initiatives, projects, and strategies we’ve put in place to drive transformation within the bank and the economy.
SEE moreThis section of our reporting suite looks at how The Standard Bank of South Africa (SBSA) is enabling the transformation of South Africa’s economy through our broad-based black economic empowerment programmes.
The transformation of South Africa’s economy is a multifaceted and long-term undertaking. We are committed to playing our role in supporting this transformation.
SEE moreThis section of our reporting suite looks at how The Standard Bank of South Africa (SBSA) is enabling the transformation of South Africa’s economy through our broad-based black economic empowerment programmes.
“We reflect our commitment to improving societies in our SEE value driver, which drives our strategy and is one of the measures against which we assess our performance.”
SEE moreThis section of our reporting suite looks at how The Standard Bank of South Africa (SBSA) is enabling the transformation of South Africa’s economy through our broad-based black economic empowerment programmes.
In 2019 we maintained our Level 1 rating and also improved our score from 111.45 in 2018 to 117.33 in 2019.
The report is structured according to the elements of the Financial Sector Code and covers the initiatives, projects, and strategies that are in place to drive transformation. Our B-BBEE scorecard highlights our performance in 2019.
Standard Bank’s BEE Scorecard 2019 Ownership Management control Skills development Preferential procurement Socioeconomic development and consumer education Empowerment financing and enterprise and supplier development Access to financial servicesThis section of our reporting suite looks at how The Standard Bank of South Africa (SBSA) is enabling the transformation of South Africa’s economy through our broad-based black economic empowerment programmes.
More information about the ways in which Standard Bank is impacting on the economies and societies in which we operate.
SEE moreThis section of our reporting suite looks at how The Standard Bank of South Africa (SBSA) is enabling the transformation of South Africa’s economy through our broad-based black economic empowerment programmes.
The transformation of South Africa’s economy is a multifaceted and long-term undertaking. We are committed to playing our role in supporting this transformation. We recognise that broad-based black economic empowerment (BBBEE) is a moral, legal and commercial imperative, crucial to securing a more sustainable growth path for South Africa.
SEE moreThis section of our reporting suite looks at how The Standard Bank of South Africa (SBSA) is enabling the transformation of South Africa’s economy through our broad-based black economic empowerment programmes.
Effective financial inclusion requires relevant products and services for diverse customer needs, and engagement and communication with customers to ensure they are well-informed about options available to them and able to make choices that best suit their requirements. Consumer education covers a broad range of activities, from helping individuals identify and access cheaper and more convenient transaction channels, to helping entrepreneurs and small business owners manage their cash flows and grow their businesses. More broadly, SBSA supports education and skills development through our corporate social investment programme, and through the provision of financial products that enable students to access finance. We also provide CSI funding for sports development, arts and culture, and health-related and agricultural support programmes. We scored 6 .09 out of 8 for socioeconomic development and consumer education (inclusive of 3 bonus points).
This element measures the annual value of the bank’s qualifying socioeconomic development contributions as a percentage of net profit after tax (NPAT), together with the annual value of all qualifying consumer education contributions as a percentage of NPAT of our retail business (PBB SA).
The FSC requires that we spend 0.6% of NPAT on socioeconomic development, and 0.4% of retail (Personal and Business Banking) NPAT on consumer education. In 2019, SBSA's total spend on socioeconomic development of R122.7 million constituted 0.77% of 2018 NPAT and spend on consumer education was 0.42% of 2018 retail NPAT.
We focus our socioeconomic development investment on education, with the objective of contributing to social and economic transformation in South Africa through supporting the development of future-fit children who are ready for a new world of work.
The particular focus of our strategy is on early childhood development and foundation phase education. In 2019, we spent R83.6 million on education initiatives, about 72% of our total CSI budget of R113.6 million.
In 2019, we invested CSI funding of R83.6 million in educational programmes.
This included:
In addition, we continue to support the Feenix Trust NPO, launched by Standard Bank in June 2017 to make tertiary education more accessible for economically disadvantaged students. Over the past three years, 2017 – 2019, Feenix has raised over R35 million, providing support for over 1 000 students. Standard Bank has extended our sponsorship of Feenix beyond the three years to which we originally committed.
The platform enables university students in need of funding for current or historic debt to create profiles and request donations toward their education journey. As a crowd-funding platform, Feenix enables individuals and businesses to take meaningful action to solve social problems. Funding in the pool is divided to ensure at least 75% goes toward black, coloured and Indian students, 50% goes toward female students and preference is given to students who are actively engaged on the platform.
To qualify, students need to be registered at a South African public university, and have an annual household income of below R600 000. To register, they must upload a copy of their ID and an up-to-date fee statement. Academic achievement is not a criterion for registration.
SBSA has been a long-term sponsor of South Africa’s national men’s cricket team, the Proteas. As part of our sponsorship philosophy, we have invested in youth development in the sport.
We have sponsored 12 Standard Bank Regional Performance Centre (RPC) development programmes, which we have run in partnership with Cricket South Africa nationally. The RPC programme identifies talented young players from ages 11 to 18 years, from townships and rural communities where there are no cricket playing schools. The youngsters become part of a highperformance environment within their own community. They are provided with the necessary support structure to help them along on their journey from #budtobloom. In 2019, our investment in the centres totalled R6.67 million. In December 2019, we announced that we would not renew our sponsorship of the South African national men’s cricket team when the current contract expires in April 2020, owing to concerns regarding governance at Cricket SA.
SBSA supports a wide range of initiatives to nurture young talent and showcase the rich diversity of Africa’s creative arts. Our commitment to investing in the arts represents a 40-year legacy and we are proud to provide ongoing support for a variety of projects which have become highlights on Africa’s cultural calendar.
In 2019, we invested over R11.4 million in arts projects and programmes, including:
The Standard Bank National Youth Jazz Festival
Standard Bank Young Artist Awards
Standard Bank Gallery outreach programmes
The Children’s Arts Festival
In 2019, SBSA celebrated 21 years of sponsoring the Standard Bank Joy of Jazz in South Africa. An important component of the festival is Geleza Kleva & Learn workshops, a free two-day workshop for young people hoping to make a career in the music and entertainment industry. The workshop, which took place in Johannesburg, saw about 200 young people gather for information-sharing sessions led by jazz musicians and other industry professionals. Topics covered included entertainment law, scoring for films, marketing and communications, event production and event management, and finance for young entrepreneurs.
The Standard Bank Gallery, located in central Johannesburg, serves as an educational tool and research resource. Many primary school children have never been exposed to art as a subject or an interest and have never visited an art gallery. SBSA actively engages with schools to encourage visits to the gallery and provides an educational supplement to support educators to ensure children derive maximum benefit from their visit. This includes the option of booking guided tours with our education officer, and workshops and walkabouts by guest curators. We also provide material and information that may not be readily available to educators and learners in the prescribed curriculum, for each of our exhibits. While the content is targeted at learners at primary school and secondary school levels, it can also be useful for tertiary students enrolled in arts programmes.
As part of our commitment to supporting the arts, we encourage university departments to engage with our arts collections to encourage research output. Our collections comprise the Standard Bank Corporate Art Collection, and the Standard Bank African Art Collection which is co-owned with Wits University. The Standard Bank Corporate Art Collection consists of almost 1 200 artworks by over 250 contemporary artists. The African Art Collection consists of approximately 6 000 objects comprising classical, indigenous and contemporary African art pieces.
The Standard Bank Gallery collaborates with various post-graduate studies programmes from institutions across the country. We encourage the use of the Standard Bank African Art Collection as a resource for research output for exhibitions, publications and other projects. We have a close partnership with the Wits History of Art and Heritage Management unit, which offers a post-graduate programme focused on curatorial studies. This programme includes an annual exhibition proposed by post-graduate students.
Standard Bank launched a new partnership with UN Women in 2019, a programme to empower women by enhancing agricultural productivity and income, through climate smart agriculture – farming methods and commodities that are resilient to climate change. Standard Bank has pledged USD3 million over two years. The programme is running in Malawi, Nigeria, South Africa and Uganda. It includes a focus on improved weather forecasting, early warning systems, financial literacy training and insurance to help farmers reduce risk.
The programme is run in partnership with local farmer associations and cooperatives, relevant UN agencies and international aid agencies, national and local governments, local private sector partners and NGOs. In South Africa, our focus is on bean and vegetable farmers in Limpopo province and Free State province. Standard Bank will train participants in financial literacy, while Vodacom will assist with digital literacy skill training. The Standard Bank Group contributed R21.8 million to the programme in 2019, R8.7 million of which was allocated to the South African component of the programme.
2019 saw the final year of the bank’s multi-year partnership with the UN Global Fund to fight Malaria, Aids and TB in Africa. In South Africa, Standard Bank donated R5.1 million to the fund in 2019.
We encourage employee engagement in CSI activities, including volunteering in meaningful, sustainable volunteer work in the communities in which we operate.
We see a positive effect on employee engagement and team cohesion, and consequently on productivity, when we encourage, enable and support employee community involvement through volunteering. We work with the NGOs to structure appropriate volunteering opportunities for our employees.
Our staff matching scheme means that, when our employees donate to a registered charitable organisation, we match the donation using our CSI funds, doubling the funds received by the beneficiary organisation. In 2019, the bank matched almost R2.4 million in employee donations and donated R8.9 million for employee-volunteering initiatives, which included library and ECD centre makeovers and a house-building project.
Standard Bank’s WalletWise programme aims to help people use financial services effectively and affordably by providing information about financial products and services and raising awareness of digital platforms and how to use them.
The programme targets those with a household income of less than R15 000 per month, and includes content tailored for young people, small enterprises and people without formal bank accounts, with a focus on rural and non-metro areas. WalletWise raises awareness through edutainment, using print and digital media, social media, radio and television, community outreach, and in-branch training in selected communities. Content is provided in nine of South Africa’s official languages.
We reached 8 500 people through classroom training, including in rural areas
Over 6 000 young people through activations at high schools and tertiary institutions; 500 000 people through community activations, including at taxi ranks
About 30 million people through television campaigns
25 million people through radio campaigns
200 000 unique visits to the website
Reached a further 35 000 people through engagement on social media