FIRST NATIONAL BANK | FNB
Sustainability Report
Making sense of sustainability
www.firstnationalbank.co.za
Companies across the globe are increasingly being called upon by a range of stakeholders to behave more responsibly within a social, environmental and economic context. More than merely complying with rules and legislation, a company is expected to make a positive contribution within its area of influence. The perception is that such influence is limited to corporate social responsibility (CSR) investment only, that it refers to pure environmental concerns or the attainment of sustainable business profits.
The term "triple bottom line" has been coined to describe sustainability as a means to encourage the inclusion of social and environmental considerations alongside financial objectives. A governance aspect is included in this equation to ensure compliance across a number of dimensions. At the heart of sustainability is the need to find the right balance between economic, social and environmental goals, integrating ethical considerations into decision-making and managing on the basis of personal integrity.
But what does this mean exactly?
- For starters, we need to make the connection between our individual actions and how these relate with social, ecological and political factors within the broader context of our economic lives. Everything we do affects the whole system. We have to consider the multiple impacts of our individual and corporate actions in an integrated way. The current energy challenges and the impact on the economy, business and our domestic environments is a case in point.
- While the triple bottom line may be a great way to describe sustainability issues, it is important to understand the significance of the biophysical environment. After all, can enough money really de-pollute the last breath of air, and un-poison the last drop of drinking water? And maybe more importantly, can businesses operate when the last breath of air and the last drop of water are toxic? It is important for us to realise that if we destroy the integrity of the environment, the other triple bottom-line components are not viable.
The benefits of engaging in sustainability initiatives are immense. These can enable us to do 'good-business' while focusing on improving the bottom line. Taking full advantage of sustainability opportunities can also translate into an enhanced reputation, retaining and attracting quality employees and generating operating efficiencies.
At First National Bank ( FNB ) , we are focused on developing our business from good to Great underpinned by the 3 pillars of people, efficiencies and innovation. We are responding to this challenge by building enduring and rewarding relationships with our stakeholders. As a responsible business, we are in the influential position to make a positive impact by becoming active partners in helping to create a better world that is socially and environmentally viable in the long term. As we work towards meeting our financial and service targets, we remain mindful of the business relationship with the external environment - business and profit are worth nothing if the non monetized life-support systems that sustain society and business are eliminated. Like financial choices, the environmental, social, and governance decisions that we make now, will be reflected on our balance sheets in the future, notwithstanding the impacts.
We invite you to view our progress towards integrating business goals and the realisation of sustainable business practices as contained in our 2009 Sustainability Report on www.firstrandsustain.co.za. We also welcome your comments, views and suggestions by emailing us on firstrand.sustain@fnb.co.za.
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