Posted on December 4th, 2011 by
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South African retail and institutional investors will now be able to invest based on their green convictions through the launch of the Nedbank BGreen ETF that has been approved by the Financial Services Board and which will be listed on the JSE with effect from 01 December 2011.
Judging by early feedback from investors, this exciting and innovative new investment instrument is likely to carve out a special niche for itself in a market increasingly interested in investing in products that reflect high levels of environmental sustainability in their make-up and ongoing performance.
The Nedbank BGreen ETF is based on the Nedbank Green Index which was launched in July as a benchmark for environmentally-conscious investors and a means of measuring the performance of companies with environmentally sustainable business practices.
More than 30 – the current number is 33, but this can fluctuate – companies that form part of the Top 100 companies listed on the JSE constitute the underlying constituents of the Nedbank BGreen ETF which can be traded in the same way as any other ETF.
Importantly, apart from having sufficient green credentials, the companies that populate the ETF also have to have sufficient levels of liquidity to enable Nedbank to make a market and stimulate the buying and selling of units.
The Nedbank Green Index is a rules-based index that is based on the local data set of the Carbon Disclosure Project (CDP) and the United Nations’ register of Clean Development Mechanism (CDM) projects in South Africa. Holding the largest database of corporate climate change commitment and action in the world and with more than 550 institutional investors representing over $US71 trillion in assets supporting the initiative the CDP is a credible data source. The CDP goes through regular selection and evaluation processes that can result in changes and re-balancing of constituent members of the Index.
Explaining the target market of this new green-focused ETF, Nedbank Capital senior transactor, Jacoleen Simpson, said it is aimed at a wide-ranging market; from parents wanting to save money for their children’s future, to pension fund trustees wanting an alternative benchmark to invest in, to retail and institutional investors wanting an investment tool designed around high levels of sustainability and responsibility.
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Posted on May 5th, 2011 by
rivalblogger
The South Africa Market Watch, one of Alexander Forbes’ signature insurance industry publications, recorded the views of CEOs from several leading South African insurers on climate change.
Ian Kirk of Santam identified climate change as one of the greatest threats to the planet in general and to developing countries in particular since climate variation threatened the sustainability of communities the world over. Given these challenges “the global insurance industry was well placed to use its collective expertise to assist in mitigating climate change if all role-players in the industry worked together” said Kirk.
Guy Munnoch, CEO of Zurich, identified water, flooding and drought as the most immediate impact of climate change on South Africa and that the country’s underinvestment in dams and reservoirs “was a threat to our ability to manage climate change successfully” said Munnoch.
As with power generation, “channels may have to be opened up for private interests to participate in the water infrastructure segment if the country’s future supply was to be ensured” added Munnoch. Nic Kohler of Hollard argued that climate change meant that the insurance industry needed to act as a collective to promote sustainable development – by investing in skills development, risk management, financial education and transformation. “The insurance industry’s potential to grow our economy is vast as insurers are involved in every sector of our economy – none excluded” said Kohler. Even though South Africa was not subject to natural disasters like those in Chile, New Zealand and Japan, Reinhard Franke, CEO of Chartis, believed that “these events should remind South African companies that their foreign assets can still suffer catastrophic exposures from natural disaster or climate change”. Certainly Chile, where Chartis and Alexander Forbes were called upon to pay a large claim, illustrated the importance of having an effective global insurance programme in place in an age of climate change. Chris Brits, Executive Leader, Alexander Forbes Risk Engineering added that the ongoing power and impending water crisis in South Africa demonstrated the dire need for sound business continuity planning and emergency preparedness even in normal times.
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Posted on March 29th, 2011 by
rivalblogger
Nedbank has established Africa’s first partially wind-powered bank branch in the area of Du Noon in the Western Cape. As Africa’s first carbon neutral financial institution, Nedbank is furthering this vision by applying wind powered technology in banking. This is one of the many green initiatives that the bank has implemented in its continuous efforts to create a sustainable model for doing business.
Powered by a Kestrel e300i 1kW wind turbine which converts wind energy into electricity, renewable clean energy is supplied to the branch and reduces the consumption of electricity from the national grid. In addition, clean energy is stored to supply the branch during any power failures, ensuring business continuity.
“As an organisation that is totally committed to championing green issues and promoting sustainability throughout our operations, we are excited about the potential for wind energy power to become a significant source of renewable energy, especially in the Western Cape where there is an obvious abundance of wind,” says Ciko Thomas, Managing Executive for Consumer Banking.
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Posted on March 29th, 2011 by
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Nedbank once again helped to drive climate change awareness by supporting Earth Hour on the 26th March 2011 in solidarity with millions of people across the world. As a leader in green initiatives Nedbank will be supporting Earth Hour through various activities including switching off the lights at all campus sites and various regional offices and branches, running a competition for staff and clients, and co-hosting the Earth Hour 2011 celebrations in Soweto with WWF-South Africa.
This year’s celebration took the form of a concert that took place in Orlando West, Soweto on Saturday, March 26 from 20h30 with a few local artists that dazzled the crowd including the Bala brothers , Marcus & Viccus Visser and Soweto Gospel Choir.
“As a carbon neutral bank we are cognisant of our usage of natural resources and so continue to actively try and reduce electricity usage throughout the year and encourage our customers and suppliers to do the same. This initiative further dovetails into our other initiatives that we are currently doing in going green. We further strive to ensure that most lights at sites are switched off at night with only minimum lighting being utilised for essential requirements.” says Maseda Ratshikuni, Head of Cause Marketing at the Nedbank Group.
Nedbank also encouraged members of the public to participate in the initiative by running competitions that invite them to observe Earth Hour and pledge to fulfil various energy-saving activities. The competition was aimed at encouraging all stakeholders, both individuals and businesses, to turn off their lights during Earth Hour between 20h30 and 21h30 on Saturday 26th March 2010 and make an ongoing change beyond Earth Hour.
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Posted on December 13th, 2010 by
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Following the introduction of the CO2 emissions tax this year, South Africa’s leading short-term insurer Santam has announced it will make special concession for insured vehicles bought prior to 1 September 2010. In cases where a vehicle qualifies for total replacement, the insured will not be penalised for any shortfall on insured value due to the introduction of the CO2 tax component.
Emissions tax is aimed at encouraging vehicle owners to purchase more fuel efficient cars to lower CO2 emissions. The tax is calculated at R75 per g/km of CO2 emissions for every g/km above 120g/km. The tax translates roughly to between R5 000 and R10 000 increase on the overall price of a new vehicle. While the manufacturer is responsible for paying the tax to SARS the consumer ultimately carries the burden of the tax as it’s included in the cost of the vehicle.
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Posted on November 24th, 2010 by
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Good news for Mutual & Federal policyholders is that the short-term insurer is to include the new CO2 Emissions Tax (carbon tax) in the settlement of total loss claims on new motor vehicles – provided consumers have insured their vehicles for the appropriate value.
The move means drivers won’t have to dig deep for additional funds to cover the tax – which could be upwards of R20 000 for large cars – if their vehicles are written off or stolen.
Several Mutual & Federal products, either automatically or by extension, provide for full replacement value of passenger and light commercial vehicles if they are less than a year old and have fewer than 30 000km on the clock.
“In view of the above, if their vehicles are less than 12 months old, it’s up to policyholders to ensure that the value of the tax is included in the value specified for insurance purposes,” says Wayne Richards, Group Manager: Underwriting and Product Solutions at Mutual & Federal.
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Posted on November 24th, 2010 by
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A groundbreaking partnership between Nedbank Capital and EECOFuels has resulted in the unveiling of the first carbon neutral power station in Africa.
The renewable waste to energy gasification plant, located in Honeydew, Johannesburg, is the result of many years of research and development by renewable energy company, EECOFuels, and presents organisations in both the public and private sectors with a robust, economical and safe way of generating electricity from renewable resources, including solid waste.
Speaking at the unveiling of the new gasification plant, EECOFuels managing director, Marcel Steinberg pointed to the vital role the EECOFuels gasification plants had to play, not only in reducing the burden from government of meeting fast-growing South African energy demands, but also as an effective, low-carbon means of disposing of waste.
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Posted on November 10th, 2010 by
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The World Wide Fund for Nature (WWF South Africa) and Nedbank have officially crossed the R100 million threshold in funds donated towards environmental sustainability through The Green Trust. The contributions have largely been raised through Nedbank’s Green Affinity programme, where clients contribute through the use of Green Affinity current, savings and credit accounts, investment products and eco-insurance options.
“In the 1990s, conservation and environmental concerns were seen as very separate from community development. The Green Trust’s mission was to bring these two isolated concepts together in order to promote the ideals of people and the environment living and working in harmony. Twenty years later, The Green Trust has funded numerous community-based projects and has proven that a strong people focus is imperative to achieve environmental sustainability and the protection of wildlife,” says Green Trust Manager, Thérèse Brinkcate.
The Green Trust is a 50/50 partnership between Nedbank and WWF which is aimed at supporting sustainable environmental projects. The projects funded by the Trust have made significant contributions to the growth of the conservation and the environmental sector.
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Posted on November 9th, 2010 by
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The issue of energy efficiency is taking hold in South Africa as companies view it in a new light and recognize the tangible benefits of cost savings as well as reducing carbon footprints and impacts on the environment.
This is the view of Kevin Whitfield, Head of Carbon Finance at Nedbank Capital, who says that partly as a function of the state of the economy, big users of energy are paying serious attention to reducing their cost bases.
“Companies that have high energy costs as part of their overall costs are increasingly doing what they can to diminish these costs. The savings they generate go straight through to the bottom line,” he said after the African Bankers’ Carbon Finance and Investment Forum that was held in Midrand last week. Sanctioned by the United Nations Environmental Programme Finance Initiative (UNEP FI), this event was held in the run-up to the World Climate Summit scheduled to take place in Cancun, Mexico, on December 4th and 5th.
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Posted on November 7th, 2010 by
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Standard Bank has taken another major step towards becoming even more energy efficient and reducing its carbon footprint with the introduction of one of Gauteng’s largest solar hybrid energy efficient water-heating systems at its head office in Johannesburg.
The new system will be used to heat 48 000 litres (20 000 litres via solar and 28 000 litres with energy efficient heat pumps) of water a day saving up to 5% of current building energy consumption. The savings in energy could be used to generate power for 7 households for a year.
Standard Bank has installed 100 solar power panels, covering more than 200 square metres on the roof of 6 Simmonds Street, one of its head office buildings in downtown Johannesburg. A back-up and top-up system consisting of two heat pumps will support the solar installation for days when the sunshine is not optimal. The new R2.3m system will save nearly a million Rand a year in energy costs. The system should pay for itself in just over three years.
This investment forms a small part of Standard Bank’s long-term commitment to and introduction of cleaner energy solutions across the group.
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