Nedbank Ridgeside
Berkeley: Nedbank has long recognised the importance of sustainability and is at the forefront of the ‘green’ revolution. As a group, the bank has a highly integrated approach that includes social, environmental, cultural and economic sustainability. We not only are significantly involved in financing and occupying a number of developments that speak to this interconnected mindset, but are constantly driving this approach to facilitate products and services such as the Green Savings Bond, the Renewable Energy Independent Power Producer Programme and a number of collaborations which are aimed at reducing South Africa’s reliance on coal-based power and energy generation, while lowering the national carbon footprint. What sustainability aspects guide your investment decisions? Nedbank’s extensive involvement in the area of green building in South Africa has afforded us a keen insight into the economic benefits that can be unlocked by incorporating energy efficiency and other environmentally beneficial elements into any building. While a like-for-like comparison of a green and non-green building of similar proportions shows that incorporating effective environmental considerations could raise the overall cost by around 10%, our experience is that this cost does not take long to recoup, particularly given the rapidly increasing cost of utilities in this country.
Therefore, any investment decisions that need to be made are inclusive of some of the above as well as issues of value and profitability, while always adhering to strict credit criteria applied across all of our funding transactions. How has Green Star SA certification had a positive impact on the Nedbank brand? Nedbank is privileged to be associated with the Green Building Council of South Africa. Across the globe, property owners and developers face the challenge of ‘future-proofing’ their buildings against rising utility prices and costly retrofits. Going green is now widely regarded as the smart choice, encompassing sustainability, accountability, aesthetics and crucial profitability. The Green Star SA certification has ensured that Nedbank is not only at the leading edge of enhancing value, profitability and sustainability through green building practices in our own buildings, but has meant that we are also ensuring that our clients, and the local property industry as a whole, have access to the latest trends, information and technology through our overall association with the GBCSA and our sponsorship of the annual Green Building Convention and Exhibition, allowing them to harness fully the business benefits of green building.
What lessons has Nedbank learned about environmental sustainability in the corporate banking environment? Nedbank is proud to be the only financial services organisation in Africa to achieve carbon neutrality for the 5th consecutive year. Managing our own impact has been key to this achievement, and it is through efforts that include the development of Green Star-rated buildings. Since unveiling the Nedbank Sandton Phase II building, the bank will soon occupy its fourth Green Star-rated building, an achievement that can be attributed to the learnings that we experienced along the way and were able to apply with each development. An example of the applied learnings is the 5 Star As Built rating that Nedbank achieved for the Nedbank Menlyn Maine campus site in Tshwane which had an initial 4 Star-rating baseline. This is a significant achievement considering the high standards set for such buildings. Due credit also goes to the professionals who continue to innovate the engineering of the buildings. What does the future bank look like? The introduction of the Green Star SA Existing Building Performance rating tool will unlock opportunities for existing buildings to integrate and apply sustainability principles, thus being a catalyst for growth within the green building space. The opportunities for future growth lie in the convergence rate from Design-rated buildings into As Built-rated buildings, and that stakeholders have a meaningful role to play in the transition of the industry.
50 CERTIFICATIONS: INSPIRING BETTER BUILDINGS
What does this mean for Nedbank, the Green Building Council South Africa asked him.
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