our positive Futures Plan
Introduction to our Positive Futures Plan
In 2015, we launched our Positive Futures Plan with full leadership support across our Group. With a focus on financial wellbeing and responsible investment, we believe we can contribute to positive futures for our customers and others by addressing issues relevant to the sustainability of our business and the markets in which we operate.
"We recognise the role that corporates have as agents of transformation, and are conscious that our long-term success depends on operating in sustainable societies. We have previously expressed our support for the Sustainable Development Goals (a UN initiative) and have signed the World Economic Forum Compact for Responsive and Responsible Leadership. I am focused on ensuring that, during and after the managed separation, our commitment to operating as a responsible business remains strong." This year, our Positive Futures Plan requires our four businesses to embed programmes dealing with stakeholders and to position themselves as responsible business leaders in their regions. I am proud of the progress we have made to date and we will update you as we complete managed separation." - Patrick O'Sullivan, Chairman.
To deliver our Plan we need to have strong foundations in place on which to build. As an international business we continue to take our core responsibilities related to our people, our communities and the environment seriously.
Bruce Hemphill Group Chief Executive
The world in which we operate
On a global and national scale, there are many social, environmental and economic challenges and opportunities that will face us as a business over the next 10 to 20 years. By addressing these challenges, and turning them into opportunities, we will create mutual benefit for the societies in which we operate and our business in the long-term.Some of these large-scale pressures and interconnected trends include:
- Large scale unemployment, particularly amongst youth. This is particularly pertinent across Africa where 40% of the world's youth will be seeking jobs and a means of making a living and where approximately 50% of the population are financially excluded.
- Climate change and extreme weather patterns. These are disrupting agricultural systems, resulting in food scarcity, a rise in food prices and pushing people into poverty.
- An ageing and increasing urban population. This is putting pressure on natural resources, education systems, housing and infrastructure. More investment is needed to provide for an ageing population, particularly in health and financial management.
- Transformation to digitised economies which will open up opportunities for many in sharing information and accessing services. However, could also exacerbate income differences when populations do not quickly adapt and benefit from technology driven growth.
Our Plan aims to contribute to the solutions to some of these challenges while also aligning to international and national plans. In particular, a number of our programmes align to the United Nations Sustainable Development Goals (SDGs) and we support the South African Government's National Development Plan (NDP). We are also pleased to have signed the World Economic Forum Compact for Responsive and Responsible Leadership. These frameworks help us as we develop cross-sector partnerships to address common issues. As we progress with our Plan, we will be able to demonstrate how our activities positively contribute to national and global issues.
As part of the managed separation we've asked each business to articulate the way in which it will continue its commitment to operating responsibly and we hope that the Plan will act as a useful guide.
Nedbank and Old Mutual Asset Management, who are listed, have well established and articulated responses to responsible business which are part of their existing customer and employee offerings.
For Old Mutual Emerging Markets and Old Mutual Wealth this is their opportunity to redefine their responsible business strategy and identify their role in adding value to society.
We are pleased with the progress that the businesses have made in identifying their focus areas and look forward to seeing them deliver on their plans going forward.