Message From The Chief Executive Officer
Dear Valued Partners,
At AfrAsia, we believe in the Sustainable Development Goals (SDGs). Our Sustainability Strategy, instituted in 2017, has laid a strong foundation of our agenda for the coming years, enabling our desire to be impactful in that space.
The Bank pioneered in 2018 the AfrAsia Bank Sustainability Summit (ABSS) in line with SDG 17 - Partnership for Goals. ABSS is a platform to map the opportunities, challenges and practical steps to shape a sustainable future. Partnerships with global organisations to address environmental, social and economic issues is in the forefront. We expect to be a forerunner in leading change on the sustainability front locally. Another milestone in our journey has been the establishment of the Global Compact Network (Mauritius) Foundation as founder member and Chairperson.
These actions reflect our engagement to promote multi-sectoral dialogues on responsible and sustainable practices across industries. Our aim is to regroup all sustainability professionals in Mauritius to take a unified pledge to work towards a sustainable future.
At the bank, we have established a Sustainability Committee comprising of a designated Sustainability Champions in every department. Their responsibility is to drive a sustainability mindset within his/her department by prompting participation in initiatives. We continually educate our people through awareness programs. We have launched our first sustainability report last year as our first Green Financial Product as part of a transformational journey.
Chief Executive Officer
Message From The Head Of Corporate Sustainability & CSR
The COVID-19 pandemic and the ecological disaster brought about by the MV Wakashio oil spill has surprisingly provided us with an opportunity to reset the way we cope with climate change and the way financial systems work. This is an opportunity for Sustainability Practitioners to push for investment in responsible companies, who have, according to researchers shown better resilience and less vulnerability in these tiring times. Every company has started thinking on the ‘What next’ and hopefully started to understand that profit goes hand in hand with people and planet. Adaptation to climate change means a rethinking of our everyday tasks as well as a rethinking of longer-term strategies. We are the generation of change for a better tomorrow and the UN’s Sustainable Development Goals can be the template to review how we can imagine and devise the world of tomorrow.
Head of Corporate Sustainability & CSR
About This Report
AfrAsia Bank Limited (the “Bank” or “AfrAsia Bank” or “AfrAsia” or “ABL”) Sustainability Report 2020 is a report that gives an overview of our non-financial performance for the Financial Year 2019-2020.
All stakeholders of the Bank
We have based our report on the Global Reporting Initiative (GRI) standards. This report also gives an overview of our sustainability strategy and initiatives in the long run.
This report includes information on AfrAsia Bank and its subsidiaries. Unless explicitly mentioned, all Key Performance Indicators (KPIs) pertains to ABL in Port-Louis (our headoffice) and Ebene (Branch).
Forward looking statements in the sustainability report may change in the future in line with the Corporate Strategy and vision.
For any additional information or feedback, please contact:
Our Sustainability Agenda – The Future outlook
Our sustainability strategy was devised in 2017 and is based on the 4 pillars of sustainability namely: Workplace Responsibility, Marketplace Responsibility, Social Responsibility and Environmental Responsibility. Throughout the years, we have focused on these 4 pillars to lead the integration of the Sustainable Development Goals within the Bank. The core focus was the development of our Social Responsibility Pillar, through the AfrAsia Foundation. We worked on changing the mindset of our staff and instill a culture of Corporate Social Responsibility and Sustainability. Several projects under the different pillars are currently in progress namely:
Collaboration with Human Resources on Sustainable HR project
Development of Sustainable Product Portfolio
Reviewing of our waste management at the Bank
Pillar 1 Workforce Reponsibility
Sustainable HR is a core focus of the Sustainability department this year. We will continue to report and work on various aspects of Human Capital.
Figure 4: Main Strategy for development of Workplace Responsibility Pillar (Main projects only)
Pillar 2 Market place responsibility
Our marketplace responsibility pillar demonstrates how we, at AfrAsia Bank, manages our relationship with our customers, business partners and suppliers.
Providing a portfolio of sustainable products to our customers
In line with our commitment to provide our customers with the opportunity to invest in climate solutions, we have started to work on the creation of a green products portfolio. The focus of the Corporate Sustainability and CSR department for marketplace responsibility is as follows:
Pillar 3 Environmental Responsibility
Figure 19: Strategy for development of Environmental Responsibility Pillar
As a Responsible Bank, ABL commits to continue reporting on its environmental strategy and associated Key Performance Indicators (KPIs). This is in line with our plan to reduce our carbon footprint in the long term.
Pillar 4 Social Responsibility
Figure 23: Strategy for the development of Social Responsibility Pillar (Main projects only)
Our Social Responsibility pillar is catered by the AfrAsia Foundation (the “Foundation”). Established in May 2016, the Foundation funds sustainable projects through its three main pillars: Education, Health and Environment with the aim to help build thriving communities in which we operate. All projects under the Foundation are underpinned by the Sustainable Development Goals (SDGs). In 2019, the Governance body consisted of 7 council members who meet on a quarterly basis. All decisions (including allocation of funds) are taken through a majority of voting by the council members.