Climate and nature

Climate action
Protecting and restoring nature
Nature and conservation partnerships
Our operational footprint

Nedbank’s Climate Change Position Statement guides our response to climate risk and opportunity. Grounded in scientific consensus and South Africa’s Just Transition context, it considers the impact of our financing on the environment and the financial risks climate change creates for the group and our clients.

We have committed to achieving net-zero emissions across our lending and investment portfolio by 2050. This is backed by sector-specific glidepaths, financing exclusions and a structured client engagement programme.

Our climate journey

Nedbank's climate journey spans more than 3 decades – from becoming the first South African bank to join the UN Environment Programme Finance Initiative in the 1990s, to our commitment to supporting a net-zero carbon economy by 2050 through 100% lending and investing.

1990s

First SA bank to join UNEP FI

2010

First bank in Africa to have its own carbon neutral own operations

2019

First SA bank to list Renewable Energy Bond on the JSE green segment

2020

Climate change resolutions passed with 100% shareholder approval

2025

No new project financing for thermal coal mines

2035

Thermal coal financed emissions declined by 47%; oil and gas by 26%

2030

No new finance for oil production

2045

Zero fossil-fuel exposure

2050

100% of lending and investing supporting net-zero carbon econom

Managing risk and opportunity

Through our climate risk materiality assessment, we identify and assess climate-related risks across high-risk sectors and geographical concentrations. Aligned with IFRS S2, we classify risks as physical or transitional and use these insights to inform client engagement, portfolio management and capital allocation decisions. Responsible capital allocation is central to this work – we increasingly direct resources towards initiatives aligned with our climate commitments and the Just Transition.

Read our full climate strategy, glidepaths and sector analysis in our 2025 Climate Report.

Nature and climate are closely connected. Healthy ecosystems support economic stability, water security and the livelihoods of the communities we serve. Nedbank’s Nature Position Statement builds on our Climate Change Position Statement and guides our path towards nature-positive banking.

Our Nature Position Statement commits us to the following:

Developing internal capacity to assess and disclose nature-related dependencies, impacts, risks and opportunities – with annual progress disclosure.
Advancing our risk-screening processes to integrate nature-related considerations into lending decisions.
Monitoring nature-related policy developments and working with our conservation partners and industry experts to apply emerging practice to our business.

Progress in 2025

Nedbank progressed to phase 2 of its Nature Risk Assessment (NRA), which deepened sector-level insight into nature-related financial risks in our lending book, aligned with the Taskforce on Nature-related Disclosures's Locate, Evaluate, Assess and Prepare framework and using ENCORE and the WWF water risk filter. By prioritising water risk we completed a sector exposure scan, and illustrative case studies across higher-risk sectors to test how water availability and quality risks could translate into financial impacts. This work strengthens the foundation for integration into lending and risk processes.

Looking internally, over 58% of the bank's employees have completed our Nature 101 training, which builds understanding of the links between nature and finance across the organisation. Our target is to increase this number to 80% by the end of 2026.

Nedbank's Chief Executive serves on the Governing Council of the African Natural Capital Alliance, established by FSD Africa, which contributes to knowledge sharing and peer learning across the financial sector on nature-related financial risk.

What we won't finance

Nedbank prohibits financing for any activities that degrade or destroy protected conservation areas, critical habitats or threatened species, regardless of technology or geography. This applies to activities prohibited by national legislation and international biodiversity conventions, and is embedded in our SEMS screening process for all relevant transactions.

Read our full Nature Position Statement and NRA progress in our 2025 Climate Report.

Nedbank’s conservation and climate work is strengthened through long-standing partnerships with organisations that share our commitment to protecting natural systems, building resilience and driving meaningful change across South Africa and the continent.

WWF Nedbank Green Trust

Established in 1990, the WWF Nedbank Green Trust is one of South Africa's premier conservation funds. Since its inception Nedbank has invested over R300m across 153 projects, conserving 230 000 hectares of grassland biome and directly supporting 19 protected areas. The Trust's work spans freshwater management, biodiversity protection and sustainable livelihoods – funding conservation efforts for key species including the black rhino, ground hornbill, oribi antelope and blue crane.

In action

Eastern Cape strategic water source area

The WWF Nedbank partnership is expanding landscape conservation in the Eastern Cape's strategic water source area – convening the Umzimvubu Catchment Partnership, deploying 16 full-time Ecochamps in youth conservation roles, and improving rangeland management across priority catchments. The WWF Nedbank partnership investment totals R1.9m for this phase, building on R2.3m invested between 2018 and 2023.

Community conservation areas

In support of the global 30x30 target, this project strengthens community-owned conservation areas and integrates them into formal national frameworks – expanding protected areas managed by rural communities and enhancing social and ecological resilience. Supported by a R2.4m Green Trust investment, the project has completed a national assessment of community conservation areas and is progressing protected area declarations in KwaZulu-Natal and the Eastern Cape.

Human-wildlife coexistence in Hluhluwe−Imfolozi Park

This 3-year initiative reduces human-wildlife conflict, fosters community cooperation and improves livelihoods in and around Hluhluwe−Imfolozi Park. So far 4 community conservation monitors have been deployed, supporting 40-45 informal businesses with 87% women and 35% youth participation. The R3m Green Trust investment runs to May 2027.

WWF Nedbank transformational partnership

Building on the Green Trust, Nedbank and WWF established a broader transformational partnership in 2007 to drive large-scale conservation and sustainability initiatives. Now in its fourth phase (2024-2029), the partnership focuses on nature-based solutions and landscape conservation, green jobs through SMME financing, catalysing funding for environmental initiatives, and policy advocacy, including structured engagements on transition minerals, electric vehicles and carbon tax during South Africa's G20 presidency.

In 2025 the partnership launched the IAP and TOPS Digital Resource Hub – a practical online tool to help landowners, farmers and conservation practitioners identify and manage invasive alien plants and threatened species across SA.

Nedbank has maintained carbon-neutral operations since 2010 – achieved by voluntarily offsetting its residual emissions while systematically reducing its operational carbon footprint year on year. We lead by example, recognising that our credibility as a partner in clients' net-zero transitions depends on demonstrable progress in our own operations.

2025 performance against targets

Target	Result
Reduce electricity consumption by 30% vs 2019	Exceeded – 58% reduction achieved
40% reduction in scope 1 and 2 GHG emissions vs 2019	Exceeded – 62% reduction achieved
30% reduction in total GHG inventory vs 2019	Exceeded – 45% reduction achieved
30% renewable energy as a share of total electricity	Not achieved – 17% reached; limited by renewable energy supply availability in the market

We met 3 of our 4 2025 targets and exceeded them ahead of schedule. Renewable energy reached 17%, below the 30% target, due to supply availability and wheeling constraints. We are exploring solutions to close this gap. Emissions reduction goals are also integrated into employee performance contracts, embedding accountability into how we work.

Looking ahead: 2030 targets

Aligned with IFRS S1 and S2, Nedbank has set new time-bound 2030 operational targets covering electricity consumption, GHG emissions across scopes 1-3, water use, waste to landfill, and recycling. Our 2030 electricity target is > 50% renewable. Our scope 1 and 2 emissions target is ≤2.8 ktCO2e – a further significant reduction from our already materially reduced 2025 position.

Carbon offset projects

To maintain our carbon-neutral status while we continue to decarbonise, Nedbank supports verified carbon offset projects with demonstrable social and environmental co-benefits, including the Makira forest protected area in Madagascar and the Gyapa Improved Cook-Stoves project in Ghana.

Full operational emissions data, methodology and 2030 targets are available in our 2025 Climate Report.