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FAQS

 

Is there an Old Mutual Corporate Responsibility Policy?

We have developed a Group Responsible Business Policy, which outlines the required minimum standards expected of each business unit as a member of the Old Mutual Group in terms of their relationship with employees, customers, suppliers, society and the environment. The Policy sits alongside Our Code of Business Conduct and Ethics which is also applicable across the Group and covers employee wellbeing and human rights. Each business unit is required to take the high level policy and implement a local level programme focused on their specific issues and appropriate actions they can take. Oversight for the policy is carried out by the Responsible Business Committee.

What is Old Mutual's governance process for Corporate Responsibility?

As part of our commitment to continue to raise our governance standards related to Corporate Responsibility issues, in 2009, we established a Responsible Business Committee. This committee has the aim of providing a Group focus on social and environmental impact areas that are material to our business and helping ensure the Responsible Business Policy is adhered to across the Group. As part of the Committee there are representatives from across the business including Risk, Investor Relations, Corporate Responsibility, Human Resources, and Marketing. The Committee is chaired by Don Schneider (Head of Group HR) providing a direct link back to the Old Mutual Executive Committee.
As part of the Responsible Business Committee's responsibilities, both the Board and the Group Executive Committee receive regular updates on specific issues that affect the Group and updates on actions that are being taken to address them. The Corporate Responsibility function is managed by the Head of Corporate Responsibility, Helen Wilson, who reports to the Don Schneider, Group Human Resources Director. 

How does the Group measure its Corporate Responsibility performance and is it externally verified?

The Old Mutual Group is listed on the FTSE4Good Index and the JSE SRI Index. These are the two main external measures used to track performance and highlight areas for development. In addition, internal measures on various aspects of Corporate Responsibility are set through the Group strategy and planning cycles; these include both Group and business unit objectives.

Does Old Mutual produce a Corporate Responsibility report?

At a Group level we produce a Corporate Responsibility report within the Old Mutual plc Annual Report and Accounts. The Corporate Responsibility pages on our website also hold information about Group activities as well as some business unit information. Old Mutual South Africa and Nedbank both produce individual reports on their Corporate Responsibility activities.

What percentage of employees is covered by the Responsible Business Policy?

The Responsible Business Policy is adopted by all businesses across our Group and therefore all employees in the Group are required to adhere to the Policy.

Is Old Mutual tracking and reducing its carbon footprint?

We are committed to monitoring and managing our carbon footprint.  We have processes in place to track buildings energy use and emissions and make sophisticated videoconferencing facilities available to our employees to reduce business travel. We communicate and work across the Group to raise awareness with employees and to gain their support for the many initiatives that are underway. We have been a signatory to the carbon disclosure project (CDP) since 2006 and 2008 saw our most detailed submission so far. It was also the first year that the submission has been publicly available from the CDP website. In addition 2009 Old Mutual plc was listed in the CDP
FTSE 350 Carbon Disclosure Leadership Index and in October 2009 Nedbank Group came top of the South African Carbon Disclosure Project Report 2009 Leadership Index.

How does Old Mutual ensure that, wherever it operates, the human rights of employees are respected?

We are committed to observing proper practices in the area of human rights and became a signatory to the UNGC (United Nations Global Compact) during 2007. The UNGC is a framework of ten universally accepted principles in the areas of human rights, labour, the environment and the prevention of corruption. We support these principles and endeavour to implement them throughout all our business activities.

Our governance standards apply across the Group, no matter what country our employees are in.  We meet all legislative requirements placed upon us and work with employees across the Group to set up systems and processes that address any local issues. A formal process has been formulated by which employees can raise any concerns they might have and, should they not want to make use of this process, an anonymous external route is also available to them.

We recognise that we work in some countries that may be considered risk areas, for example Zimbabwe and Colombia. These businesses have been operational for many years and have well-established processes. We have many customers and employees in these countries and continue to support them.

Has Old Mutual built social, ethical and environmental (SEE) requirements and measurements into its procurement processes?

The Code of Business Conduct and Ethics includes statements regarding procurement and interaction with suppliers. Although procurement is not a centralised process within the Old Mutual Group and as such each business unit has their own specific procurement policies, we do have specific procurement requirements included as part of the Responsible Business Policy. In addition to this many business units have built SEE issues into their processes and we are working with those who have not yet done so to develop their existing policies. In South Africa, black economic empowerment and the Financial Sector Charter requirements are built into the procurement process.

How much do you spend on community investment?

During 2008 we supported a wide range of community projects across the world. Through these we invested in education, health and welfare, local economic development, the environment and the arts. In total we invested £7.7million in the local communities in which we operate.

Who do I approach with a sponsorship request?

Sponsorship from the Old Mutual Group is managed on a business unit basis. Please approach your local Old Mutual office with the proposal and they will be able to respond as to whether the opportunity fits our guidelines. Old Mutual plc requests should be directed to Helen Casey.

Who do I approach with a request for charity support?

Across the Old Mutual Group, charitable giving is managed on a local level. There are five Foundations that were set up on demutualisation and these manage the giving process in South Africa, Malawi, Namibia, Zimbabwe and the UK. Other business units donate from their individual budgets and all give to locally run projects.  Please address your opportunities for support to your local business and they will consider the proposal and decide whether it is in line with Foundation or business guidelines. Requests for funding which relate to the UK only should be directed to Helen Wilson.

Who do I contact if I have a question related to the social and environmental performance of Old Mutual?

All questions and further information requests should be directed to our Head of Corporate Responsibility, Helen Wilson.