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RESPONSIBLE ENVIRONMENTAL MANAGEMENT IN PRACTICE

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Overview

Like other businesses, we have a duty to do what we can to minimise the risks created by the direct environmental impacts of our operations. Our focus on putting the right systems in place and building a coherent approach across the Group means we are now better positioned than in the past to manage these impacts appropriately.

Our approach

Creating the right framework

As part of improving the way we manage our direct environmental impacts we have developed a Group Climate Change Strategy. This aims to improve the completeness and accuracy of our emissions data, set a Group target for carbon reductions and create initiatives to engage all our stakeholders.   Each business has an Environment Taskforces responsible for co-ordinating activity and employee engagement.

Measuring progress

Understanding our current environmental impacts is fundamental to measuring our progress.  We have implemented a group-wide reporting system for our environmental and social key performance indicators and have worked with contacts in each business to ensure the data they report is robust and accurate.   We will continue to work across the group to further improve the quality, quantity and timeliness of the data we report.

Reducing our buildings' environmental footprint

Our biggest direct environmental impact is through the buildings that we own or lease. We therefore work hard to improve their environmental performance by refitting existing units and building or leasing more environmentally friendly new ones.

Electricity consumption

We have seen a recent increase in our electricity consumption due to improved data collection from our South African property portfolio. This represents a significant proportion of the total Group electricity use and outweighed reductions made elsewhere in the business. However, we see improving data accuracy as a key step in improving our understanding of where our resource consumption is generated in order to reduce consumption in the long-term.

Water consumption

We are working to reduce the water used in the properties that we manage. Examples of how we do this include air-conditioner and rain water harvesting, using treated effluent for irrigation and upgrading toilet facilities with low-flow taps and where appropriate, automation. Nedbank voluntarily participated in the Water CDP in 2010. This was an important benchmarking exercise that helped to identify vulnerability in its supply chain and client base.

Waste production

We have programmes for reducing waste and the use of raw materials across the Group by encouraging employees to recycle. Recent examples of actions taken include:

• New colour-coded recycling bins installed in all Mutualpark, South Africa parking so employees can bring their waste to work for recycling
• Worm farms introduced at a number of Nedbank headoffice sites and Old Mutual properties in South Africa to reduce food waste
• E-filing system for Personal Financial Advisers introduced to reduce paper usage and office space.

Engaging our employees

In parallel to investing in the facilities and technology to reduce the environmental impact of our operations, we are working with our employees to ensure they are fully engaged in this group-wide effort.  At a local level, employees are communicated with through workshops, training sessions, issue campaigns, incentive programmes and through the work of our environmental champions.

Recent highlights

• In 2011, reduced Old Mutual's carbon dioxide emissions by 8%
•  Established 12 Environment Taskforces to implement our strategy and achieve our carbon emissions reduction targets
• Kotak Mahindra Old Mutual Life Insurance completed the first full year of its 'One World. Handle With Care' environment programme, providing education and tools for employees
• We became a signatory of The 2°C Challenge Communiqué - an international coalition of business leaders calling on governments to take action at a national level to ensure a successful transition to a climate-resilient economy
• Mutual & Federal and Nedbank sponsored and facilitated a number of events at the 17th UN Conference of the Parties (COP17) in Durban to help find solutions for global climate change
• Old Mutual appeared in the Carbon Disclosure Leadership Index for the third consecutive year, increasing our score and being ranked seventh for the Financial Services sector
•  In our investment properties, we decreased our carbon emissions by 10% to 0.21 tonnes of CO2e per metre squared (2010: 0.23tonnes CO2e/m2). This success is largely due to continued efforts made by the Old Mutual Property team in South Africa to improve the way properties are managed and developed
• In our employee occupied properties, we decreased our emissions by 6% to 2.33 tonnes of CO2e per employee (2010: 2.47 tonnes CO2e/full time employee) through a wide range of structural and behavioural initiatives