Standard Bank launches Sustainability Report
Standard Bank Namibia launched their 2015 Sustainability Report earlier this week, at the Hilton Hotel. The Report concentrates on the economic, environmental and social impacts caused by Standard Bank’s everyday activities.
Vetumbuavi Mugunda, Chief Executive of Standard Bank Namibia said the decision taken by the Bank to publish a sustainability report for stakeholders is based on the belief that their own going sustainability is directly linked to their being a valuable member of the communities and of broader society, now and in the future.
“The purpose of reporting, is to create greater transparency and accountability and to allow for better informed and more robust decision-making in a context where financial and non-financial challenges are becoming still more interdependent,” explained Mugunda.
Mugunda mentioned that the Report is intended primarily for those stakeholders with whom they have direct relationships and regularly communicate, including their shareholders, customers and clients, employees, government and regulatory authorities, industry bodies and service providers.
Mugunda reiterated that their success and growth over the long term is build on making a difference in the communities in which they operate. “We are commercially and morally bound to serve Namibia and her people, in return for the long-term profitable growth we envisage as a leading financial services group in the country,” he said.
Advocate Sigrid Tjijorokisa, Board Company Secretary of Standard Bank said that they take seriously the managing of risks that environmental and social pressures place on their ability to create sustainable value for their stakeholders and they aim to respond to strategically.
“Therefore the introduction of our inaugural 2015 Sustainability Report indicates our commitment to understand and effectively respond to the national, regional and global pressure influencing our customers, our communities, our business development and ultimately shareholder value,” she emphasized.
Standard Banks key priorities include their eight material focus areas which are to manage the risks and opportunities of their strategy, to deliver sustainable long term financial performance, to keep abreast of the pace volume and scale of regulatory change, to put the client at the centre of everything they do, to establish and maintain IT system stability, to recruit, retain and motivate their employees, to advance their reputation and to embrace innovation.