AfrAsia Bank Limited will increase its focus in future years on the People, Planet, Profit aspects. The Bank will dedicate its sustainability structure to Corporate Governance reporting, helping the economy through responsible products and practices, invest its CSR fund in children education, development and environment.
The Bank has and will continue to work in collaboration with the Fondation Joseph Lagesse and support a small number of dedicated projects that have a positive impact on local communities and the environment. The Bank will also develop new programmes for employees to put them at the top of its sustainability agenda. The Bank is developing an international CSR perspective that fits in the corporate culture of the company. With the wine auction already a success in South Africa, the Bank will be introducing fundraising events to help towards alleviation of poverty in the local communities where it is present.
One of the key aspects of good CSR practices involves effective and transparent communication channels with internal and external stakeholders. This process is a key to identifying issues of concerns that the company should address, and to inform all stakeholders about the outcomes for each programme.
As from the next financial year, AfrAsia Bank Limited will embark on international sustainability reporting that reflects the Bank’s values and governance model, and demonstrates the link between its strategy and its commitment to a sustainable global economy.
Sustainability reporting will help AfrAsia Bank Limited measure, understand and communicate its economic, environmental, and social and governance performance.
The Bank wants to align its sustainability reporting with two reporting tools that are most pertaining to the Bank’s context and the global context: the Global Reporting Initiatives and the UN Global Compact.