Our Human Rights Statement

Old Mutual has created a statement detailing our approach to human rights, supporting our Positive Futures Plan. The statement includes our principles, scope and governance regarding human rights, and is supported by all wholly owned business across the Group, aiming to enable a positive future for all our stakeholders.

Human Rights Principles

Human rights are basic rights that form the foundation for freedom, justice and peace. We will not be complicit, either directly or indirectly in condoning human rights violations.

We take responsibility for the commitments we make, the actions we perform and the problems that arise:

  • We will seek to understand and manage appropriately the impacts that our business may have on the communities with which we interact, including human rights impacts

  • Wherever we operate we will seek to reflect human rights in our employment policies and practices

  • Wherever we operate we will operate a culture of anti-corruption

  • We will consider material human rights issues in our investment management practises as part of our environmental, social and governance screening in a manner that is consistent with client mandates, local business requirements and applicable regulations

  • For all substantial loans to finance public or private sector projects, we will review corporations or governments for potential human rights impacts as part of the assessment/sanctioning process

  • We will consider the business practices of significant partners (including suppliers and customers) with regard to human rights standards and integrate these standards into our contractual relationships with them

  • We will work with human rights groups and other organisations to share information on human rights issues (within legal constraints) and monitor/implement best practice management procedures

  • We will work with clients and suppliers to implement human rights best practice

  • Where we discover, or are made aware, that we have been associated with human rights violations we shall take steps to remedy the situation, taking account of the interests of those whose rights are being violated.

Scope

  • These principles apply to all wholly owned businesses across our Group and includes contractors and other temporary employees

  • This statement covers our relationships with customers, employees, suppliers, local communities, the environment, and our role as a financial service organisation

  • Individual Business Units within the Group may adopt additional principles and processes to deal with specific human rights issues that affect them

  • Where local legislation is more stringent, local requirements will apply in addition to this Statement

  • Where local legislation may conflict with the Old Mutual's policies and practices contained in this Statement, we will comply with the law but seek, within our spheres of influence, to raise awareness of human rights and provide an example of good practice through our own business conduct

  • We will consider the human rights risks when undertaking any due diligence

Governance and monitoring of human rights

Maintaining the highest ethical standards and protecting human rights is the responsibility of every employee. We have a network of people across the Group who manage and monitor our performance as a responsible business, including human rights issues as well as other social and environmental issues. Each business unit also has named a senior level executive with overall responsibility for these issues. This is overseen by the Head of Responsible Business and our Responsible Business Committee, which co-ordinates our management approach and information flow for social and environmental risks. The Responsible Business Committee is chaired by the Group's Customer Director and Responsible Business Lead.

Our Group Chief Executive holds overall responsibility for Old Mutual operating in a responsible manner that respects and protects human rights. The management and governance of these issues follows the Group's wider governance process managed through the Group Operating Model. For more information about governance at Old Mutual, please view our governance section or our Risk and Capital Management section and the Annual Report.

See our approach to responsible business for specific policies we have put in place to minimise the risks related to our social and environmental impact and how we monitor and evaluate our progress.

Contacting us on Human Rights

If you have any questions on our approach to human rights please contact us at responsiblebusiness@omg.co.uk

Supporting documents

Our commitment is formalised through various policies including:

  • Anti-Bribery and Anti-Corruption policy

  • Code of Conduct

  • Code of Ethics (Nedbank)

  • Core Values of the Group

  • Group Conflicts of Interest Policy

  • Group Financial Crime Prevention Policy

  • Group Human Resources Risk Management Policy

  • Group Operating Manual

  • Nedbank Corporate Responsibility Policy

  • Nedbank Group Human Rights Statement

  • Responsible Business Policy

  • Responsible Investment Standard

Statement is guided by

The following legislation and industry codes:

  • United Nations Guiding Principles on business and human rights

  • International Bill of Human Rights

  • United Nations Universal Declaration on Human Rights

  • United Nations Global Compact

  • Organisations for Economic Co-operation and Development Guidelines for Multinational Enterprises

  • International Labour Organisation (ILO) Core Conventions

  • United Nations Principles for Responsible Investment (UNPRI)

  • The Code of Responsible Investing in South Africa (CRISA)

  • Regulation 28 of the Pension Funds Act

  • The Financial Sector Charter (FSC)

  • King III Code of Corporate Governance

  • Equator Principles

  • SEMS

  • International Finance Corporation (IFC)

  • Global Reporting Initiative (GRI)

  • UK Companies Act 2013

  • Frank Dodd Act 2010

  • Supply Chain Transparency Act 2010

  • The Constitution of South Africa

  • Bill of Rights

  • Johannesburg Stock Exchange Socially Responsible Investment Index (JSE SRI)

  • Modern Slavery Act 2015