|Adoption Date:||10 November 2005|
|Country of Headquarters:||South Africa|
|Region of Headquarters:||Africa|
|Institutional Reporting Hyperlink:||https://www.nedbank.co.za/content/dam/nedbank/site-assets/AboutUs/Sustainability/Supporting%20Documents/Nedbank_SR%202016.pdf|
|Current EPFI Reporting Year/Period:||2016|
|EPFI Reporting in Compliance:||Yes|
Reporting – Nedbank Limited (2016)
Please read the important notes and disclaimer for further information on ‘EPFI Reporting’, compliance and publication on the Equator Principles Association website.
Further information on this EPFI may be obtained through the Institutional Reporting Hyperlink above.
PROJECT FINANCE ADVISORY SERVICES
Total number mandated in the reporting period: 0
PROJECT FINANCE TRANSACTIONS
Total number that reached financial close in the reporting period: 4
Totals 1 3 0
Totals 1 3 0
Sector Category A Category B Category C
Mining Infrastructure Oil & Gas Power 1 3 Others Region Category A Category B Category C
Americas Europe, Middle East & Africa 1 3 Asia Pacific Country Designation Category A Category B Category C
Designated 1 Non-Designated 1 3 Independent Review Category A Category B Category C
Yes 1 3 No
1Designated Countries are those countries deemed to have robust environmental and social governance, legislation systems and institutional capacity designed to protect their people and the natural environment. For the list of Designated Countries, go to: https://www.equator-principles.com/index.php/ep3/designated-countries
PROJECT NAME REPORTING FOR PROJECT FINANCE TRANSACTIONS
No. Project Name Sector Host Country Name/ Project Location Year of Financial Close
1 Kathu Solar CSP Power South Africa 2016
2 Amandi Power Power Ghana 2016
3 Longyuan Deaar 1 Power South Africa 2016
4 Longyuan Deaar 2 Power South Africa 2016
PROJECT-RELATED CORPORATE LOANS
Total number that reached financial close in the reporting period: 0
IMPLEMENTATION OF THE EQUATOR PRINCIPLES
The EP implementation within Nedbank falls within Nedbank Corporate Investment Banking cluster/BU. The EP procedure falls within an overall procedure for environmental and social (“E&S”) review of transactions (hereafter referred to as “SEMS Procedure”). The SEMS process does not include only Project finance styled deals but specific products. Environmental & Social assessments are initiated during the course of credit application and review cycle. By extension the EP implementation occurs via this process. Monitoring also occurs via the credit review cycle and in consideration for specific EP covenants placed within the facility /Common terms agreement.
In terms of the Equator Principles reviewers, 3 staff currently implement SEMS procedure and by extension EP implementation. Staff have MSC in environmental sciences and BSC honours qualification in Environmental Sciences.
The Head of Social and Environmental Risk (who reports directly to the CIB: Head of Enterprise Wide Risk) has responsibilities that include awareness training and development of two staff, on-going support to business and Legal teams from an environmental advisory perspective; control of budget and expenditure for environmental team; provide support to CIB marketing on negative reputational risks to the Nedbank brand; environmental enterprise wide risk management.
The first specialist monitors and reviews PF deals within Nedbank and provides training to Credit Risk and Property Finance teams within CIB, and the second specialist focuses on both the EP and client coverage deals, and provides EP and risk training within CIB Credit Risk.
In addition, a specialist in environmental, social and human rights law from Group Sustainability provides support to the various Nedbank business clusters, including awareness training on regulatory and internal policy obligations, on an annual basis.
As part of the Nedbank Sustainability Assurance Engagement FY2016, an external auditor undertook a benchmarking exercise between Nedbank’s current internal process and EP guidance.
Further information on Nedbank’s implementation of the Equator Principles can be found in their Sustainability Review.