Extending its leadership role in sustainability, Nedbank Capital has introduced a new set of awards that recognise contributions towards sustainable business practices in Africa. Called the Nedbank Capital Sustainable Business Awards, Terence Sibiya (head of Coverage & Origination at Nedbank Capital) explains ‘the purpose of the awards is to honour African businesses and business leaders who have made a significant effort to promote sustainable business on the continent. There is a growing need for companies to perform financially while at the same time creating value for society and the environment.’ Closing date for entries is 30 September 2012, with the awards ceremony on 13 March 2013.
‘Sustainable business redefines the traditional paradigm of ‘business as usual’ with its focus on creating value for society and the environment without trade-offs for shareholders, suppliers and customers,’ comments Sibiya. ‘It recognises and demonstrates that business is one of the most important levers for solving the numerous social and environmental challenges facing humanity. It also knows that there are immense opportunities for generating shareholder wealth through solving societal problems,’
Encouragingly, the introduction of the Nedbank Capital Sustainable Business Awards has been welcomed by industry leaders, including Simon Susman, chairman of Woolworths Holdings Limited. ‘We have limited resources – both human and environmental – in our world and country. Business therefore needs increasingly to conduct itself to enrich and protect those resources. Doing this ensures deep sustainability for all our stakeholders. The launch of the Nedbank Capital Sustainable Business Awards will greatly advance this aspiration.’
Companies with a minimum annual turnover of R200 million and at least 500 employees are eligible to enter the awards, with the award process being facilitated independently by sustainability specialists at SRK Consulting. An independent panel of business and sustainability experts will be appointed to adjudicate the awards.
The awards will reward and incentivise leadership and innovation in companies that:
- Create demonstrable value for the company, the economy, the society and the environment
- Embed sustainability into the core business model
- Employ systemic, long-term and multi-stakeholder thinking, process and problem solving
- Consider the sustainability challenges faced by society as opportunities for value creation.