DEVELOPMENT AND CSR GOVERNANCE
ENVIRONMENTAL, SOCIAL AND SOCIETAL RESPONSIBILITY
Environmental, Social and Sustainability (ESS) Committee established
As far as governance was concerned, an Environmental, Social and Sustainability Committee was established in 2019, chaired by the Group Executive Managing Director.
A Group-wide charter to ensure consistency of action
After concerting with each of its stakeholders, BANK OF AFRICA formalised its commitments in the form of a Social Responsibility Charter. Introduced in March 2018, this Charter, which aims to meet ethical, environmental and social challenges, is part of a reflective process at Group level. The Charter provides a framework enabling each subsidiary to make an effective contribution to six major undertakings in the following areas:
- Business ethics and responsible customer relations
- Sustainable finance and social entrepreneurship
- Responsible employer
- Governance and risk management
- Community interest and dialogue with stakeholders
Complying with the highest international standards
BANK OF AFRICA adheres to the main international benchmarks used to achieve sustainable development goals – the United Nations’ Principles for Positive Impact Finance, the Global Compact, the Equator Principles based on the IFC’s sustainability policy and Environmental and Social Management System, the Climate Action in Financial Institutions Initiative and the Green Investment Principles for the Belt and Road, among others. By adopting these international undertakings, BANK OF AFRICA has established a framework enabling it to incorporate environmental aspects into its operations.
SUSTAINABLE DEVELOPMENT STAKEHOLDERS AND CHALLENGES
Fostering closer ties with stakeholders
No CSR approach can be truly effective without listening attentively to one’s stakeholders. BANK OF AFRICA maintains an ongoing dialogue with the different entities that make up its internal and external ecosystem.